Hertz Lithium has exercised an option to obtain a license to a novel lithium extraction technology from Pennsylvania State University (Penn State).
The technology is designed to extract lithium from spodumene, which is currently the main source of high purity lithium. Whereas conventional methods are energy intensive and rely on heat, the Penn State technology uses sodium hydroxide in combination with heat, recovering 90% of the lithium while improving energy efficiency and reducing environmental impact.
The license agreement is expected to include royalty and milestone payments to Penn State based on revenue generated by Hertz from the technology. The two parties are also expected to collaborate on further developing and scaling the technology.
“We are thrilled at the opportunity to work with Penn State University and further develop their innovative technology for an improved technology for extracting lithium from hard rock sources,” says Kal Malhi, CEO of Hertz Lithium.
“As many new hard rock lithium deposits are being discovered to meet the demand for lithium, we aim to work with Penn State University’s patent pending process to develop improved lithium extraction technologies for hard rock resources across the world,” adds Malhi.
Source: The Deep Dive
