President and COO Dr. Andy Robinson Joins Aqualung Board of Administrators
EL DORADO, Ark., Could 12, 2022 (GLOBE NEWSWIRE) — Commonplace Lithium Ltd. (“Commonplace Lithium” or the “Firm”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an modern expertise and lithium mission improvement firm, as we speak introduced an fairness funding of $2.5 million into Aqualung Carbon Seize AS, a frontrunner in carbon seize expertise. Commonplace Lithium’s funding was a part of a $10 million strategic fairness spherical by Aqualung.
Dr. Andy Robinson, President and COO of Commonplace Lithium commented, “we started working with Aqualung in 2021, and are assured in its underlying expertise and the administration group’s technique to commercialize their core carbon seize expertise. This strategic funding spherical offered a perfect alternative for Commonplace Lithium to take a extra built-in method as our Firm strives in direction of a way forward for low-carbon lithium chemical manufacturing. One among our objectives is to each reduce and/or seize our CO2 emissions, and completely sequester that CO2 as a part of our future operations. We look ahead to scaling up our current pilot mission with Aqualung in assist of this ambition. As well as, I’m delighted to affix Aqualung’s board of administrators and actively take part within the firm’s future.”
The carbon seize pilot mission is being developed in collaboration with Aqualung and shall be put in at a pure fuel processing website in southern Arkansas (see news release September 14, 2021). Design and fabrication of the pilot unit is underway, and deployment on the website location is scheduled for Q3 of this yr.
$2.5 Million Fairness Funding Phrases
Commonplace Lithium invested $2.5 million in alternate for 179,175 shares of Aqualung frequent inventory. Coincident with the Firm’s funding, President and COO Dr. Andy Robinson joined Aqualung’s board of administrators.
About Commonplace Lithium Ltd.
Commonplace Lithium is an modern expertise and lithium improvement firm. The Firm’s flagship mission is situated in southern Arkansas, the place it’s engaged within the testing and proving of the industrial viability of lithium extraction from over 150,000 acres of permitted brine operations. The Firm operates its first-of-a-kind industrial-scale Direct Lithium Extraction (DLE) demonstration plant at Lanxess’s south plant facility in southern Arkansas. The demonstration plant makes use of the Firm’s proprietary LiSTR expertise to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is getting used for proof-of-concept and industrial feasibility research. The scalable, environmentally pleasant course of eliminates the usage of evaporation ponds, reduces processing time from months to hours and enormously will increase the efficient restoration of lithium. The Firm can also be pursuing the useful resource improvement of over 30,000 acres of separate brine leases situated in southwest Arkansas, known as the South West Arkansas Lithium Challenge, and roughly 45,000 acres of mineral leases situated within the Mojave Desert in San Bernardino County, California.
Commonplace Lithium is collectively listed on the TSX Enterprise Alternate and the NYSE American beneath the buying and selling image “SLI”; and on the Frankfurt Inventory Alternate beneath the image “S5L”. Please go to the Firm’s web site at https://www.standardlithium.com.
On behalf of the Board of Commonplace Lithium Ltd.
Robert Mintak, CEO & Director
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