Yahoo Finance LiTHOS Joins Elite Group at Alabama Mobility and Power Center
The consortium includes industry leaders Alabama Power and Mercedes-Benz U.S. International
VANCOUVER, BC, June 17, 2024 /PRNewswire/ - LiTHOS Group Ltd. ("LiTHOS" or the "Company") (CBOE CA: LITS), a leader in sustainable lithium production technologies announces its membership in the Alabama Mobility and Power (AMP) Center. This strategic alliance includes esteemed partners such as The University of Alabama, Alabama Power, and Mercedes-Benz U.S. International, positioning LiTHOS among an elite group driving the future of electric vehicle (EV) and mobility innovation.
The AMP Center is a premier research and development hub for EV and battery technologies, dedicated to pioneering solutions across the entire EV ecosystem, from raw material extraction to end-of-life battery recycling. The AMP Center is made up of government, academic, and industry partners committed to working together to develop the state's EV ecosystem further. The objective is to stimulate economic development, train a specialized local workforce, and coordinate research into mobility and power to solidify Alabama's status as a leader in the EV industry.
Scott Taylor, CEO of LiTHOS, remarked, "We are thrilled to collaborate with AMP and our fellow Consortium partners. Alabama has proven to be an excellent location for our testing and R&D lab facilities, thanks to its talented workforce and supportive government. AMP will enable more companies to recognize the potential we've seen here, facilitating connections with industry partners and government agencies, and crucially, fostering the development of the skilled workforce we need as we scale up and expand our operations in the state."
Strategic Partnership for R&D and Economic Growth
LiTHOS's membership in the AMP Center underscores its commitment to cutting-edge research and development. This partnership will enable LiTHOS to leverage the center's extensive network of industry, government, and academic partners to advance its innovative patent-pending AcQUA™ technology. The collaboration aims to tackle critical challenges in lithium extraction and battery technology, contributing to the overall growth and sustainability of the EV sector.
Brad Whisenant, Consortium Development Manager at the AMP Center, stated, "The AMP Center was created to unite the best minds from industry, academia, and government to drive innovation in the EV and battery sectors. We are excited to welcome LiTHOS to our consortium and anticipate groundbreaking projects that will benefit the entire EV ecosystem."
"We at LiTHOS believe it's important to be part of a collaborative approach to solving some of the industry's largest issues, such as the elimination of evaporation ponds and pre-treatment of brines to improve the efficiency of lithium extraction. It is an honor to be part of AMP, and we look forward to contributing to its growth and ultimate success," states Judson Lacapra, Chief Development Officer at LiTHOS.
Key Partners and Alabama's Automotive Leadership
Alabama is a major player in the automotive industry, ranking among the top five states for automobile exports. The AMP Center, housed within the University of Alabama's Alabama Transportation Institute, serves as a hub for research and development, workforce training, and economic development. With major partners like Mercedes-Benz, Alabama Power, and now LiTHOS, the center is well-positioned to lead advancements in EV technology and infrastructure.
About the Alabama Mobility and Power (AMP) Center
The Alabama Mobility and Power (AMP) Center, a pioneering public-private partnership between The University of Alabama, Alabama Power Company, and Mercedes-Benz U.S. International, Inc., is on a mission to drive research and workforce development for the expanding electric vehicle market. As a premier regional research and development hub, the AMP Center focuses on advancing battery technologies, developing charging infrastructure, and managing power delivery to support large-scale electric vehicle growth. Through strategic partnerships and cutting-edge research, the AMP Center is poised to lead the charge in the future of sustainable mobility. For more information, visit AMP Center.
About LiTHOS
Lithos Group Ltd. is a mining technology company focused on selective extraction of aqueous minerals. The Company's AcQUA™ technology allows lithium to be extracted from continental brine reservoirs without the need for additional freshwater or any added chemicals or reagents. Lithium is now among the world's most in-demand metals as the world "electrifies" to reduce CO2 emissions, led by continuing growth in EV sales and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.
The Company's mission is to produce sustainable lithium without evaporation ponds. AcQUA™ is LiTHOS's patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery-grade lithium feedstock. LiTHOS has two processing facilities: a 4,000 sq ft lab in Denver, CO, and a 55,000 sq ft complex in Bessemer, AL.
LiTHOS is working with multiple strategic mineral resource owners, including brines from the largest Salars in Chile and Argentina and the Smackover reservoir in the Southeastern United States. Our wholly-owned subsidiary, Aqueous Resources LLC, is a US Department of Energy grant awardee and a Colorado Advanced Industries grant awardee. For more information, please get in touch with LiTHOS Investor Relations at 1-877-LITHOS1 / 1-877-548-4671 or via email at info@lithostechnology.com.
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ON BEHALF OF THE BOARD
Scott Taylor - CEO
For more information, please contact:
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the Company's market position in the industry of sustainable lithium production and increase in the capacity of the Company's facilities. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company's facilities will be able to handle the increased demand. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include but are not limited to, the failure of the Company's facilities to handle increased demand and the potential that the Company's market position does not increase as expected. Further, the ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. Other factors may also adversely affect the future results or performance of the Company, including those risks and concerns more fully described in the Company's annual and quarterly management discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release, and unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
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SOURCE Lithos Group
