LPO broadcasts conditional dedication for Venture ATLiS (supply: US Division of Power)
Venture ATLiS, which can produce lithium from geothermal brine in California, has obtained conditional dedication from the US DOE for a $1.22 billion mortgage.
California-based EnergySource Minerals (ESM), through subsidiary SPV ESM ATLiS LLC (ATLiS), has secured a conditional dedication from the U.S. Division of Power’s Mortgage Packages Workplace (LPO) for a direct mortgage of as much as $1.36 billion. The funding will go in direction of the development, equipping, and operation of the ATLiS facility in Imperial County, California which goals to provide lithium hydroxide from geothermal brine.
ATLiS submitted its software to LPO in Might 2023. At present’s announcement reinforces the Division of Power’s dedication to strengthening the nation’s manufacturing competitiveness and making certain the nation’s vitality future is constructed by Individuals, for Individuals.
The corporate had beforehand signed a binding lithium provide contract with Ford Motor Firm for sustainably produced lithium hydroxide.
About Venture ATLiS
The power is anticipated to provide as much as 20,000 metric tons of lithium hydroxide yearly, sufficient for about 52 GWh of lithium-ion batteries per yr.
The ATLiS facility will use a know-how referred to as direct lithium extraction (DLE) to get well lithium from Salton Sea geothermal brine. DLE applied sciences are relevant in lots of lithium brine and clay sources throughout the USA, permitting economically aggressive extraction the place impurities or decrease lithium concentrations would in any other case restrict industrial alternatives. DLE additionally requires much less water and land versus standard extraction strategies from brines, corresponding to evaporation ponds.
Venture ATLiS would be the first facility to make the most of the method at industrial scale in the USA. ATLiS will deploy a proprietary DLE know-how referred to as ILiAD™ (developed by ESM ILiAD LLC, one other EnergySource Minerals subsidiary) for lithium restoration, which has been piloted with numerous brine sources throughout the USA and internationally, together with in Utah, Texas, and Nevada, along with onsite in California.
The power shall be sited subsequent to an current geothermal plant, which can provide the lithium-rich brine from the subsurface geothermal subject positioned over one mile underground. After impurities are faraway from the brine, the lithium shall be separated out utilizing the ILiAD™ DLE know-how.
The lithium-depleted brine shall be returned to the geothermal plant for reinjection into the geothermal reservoir, and the lithium shall be additional purified, crystallized, and packaged into battery-grade materials. The brine options further recoverable vital minerals supporting America’s industrial base, together with zinc and manganese, which ATLiS expects to extract and commercialize.
Prior DOE evaluation has estimated that potential lithium manufacturing from the Salton Sea recognized geothermal useful resource space might exceed 4 million metric tons, which may produce over 10,000 GWh of battery capability. This undertaking helps the Administration’s efforts to strengthen provide chains which might be key to nationwide vitality safety, cut back reliance on financial opponents like China, and unlock America’s great home lithium useful resource
Supply: US Division of Power
