EnergySource Minerals | May 04, 2022
EnergySource Minerals today announced a new round of investment led by Schlumberger New Energy and TechMet Ltd. The Schlumberger New Energy investment includes a strategic partnership to accelerate the deployment of the ILiAD lithium extraction platform and integrate it into the front end of the process used by NeoLith Energy, a Schlumberger New Energy venture. The platform has been piloted at demonstration scale for over 6 years on a variety of real-world brines. Schlumberger will scale up testing at NeoLith Energy's pilot plant in Nevada and deploy it at a global scale.
"As the world projects a significant supply shortage of various critical minerals such as lithium, the time is particularly ripe for our Schlumberger and TechMet partnership. Simply put, we have found a way to make battery material production more efficient, economical, and sustainable. We continue to push the envelope to reduce environmental impact, which is really the obligation of the industry."
Eric Spomer, EnergySource Minerals President and CEO
EnergySource Minerals developed the ILiAD technology for its lithium extraction operation at the John L. Featherstone Geothermal Power Plant in the Salton Sea. The platform maximizes lithium extraction from brines in a closed-loop environment, delivering disruptive reduction in time, cost, and environmental impact compared with alternative methods. ILiAD is best-in-class among direct lithium extraction technologies. It is commercially ready to deploy today, dramatically reduces water footprint, does not consume reagents, demonstrates order-of-magnitude longer operating life, and highest lithium recovery rates. It also enables the development of new classes of brine resources for the production of additional minerals, such as manganese and zinc.
"Schlumberger conducted extensive research and due diligence into our operations. Its investment is a validation of our disruptive ILiAD technology and the demand for cleaner, domestically sourced lithium," added Spomer. "As well, we are delighted to add TechMet as a strategic partner. Their expertise across project development, financing, marketing and supply-chain management, together with its global network and position will bring considerable commercial and strategic value to EnergySource Minerals as we look to deploy our ILiAD technology in new markets."
Leveraging strategic alliances and technical collaborations, EnergySource Minerals has already engaged with multiple resource customers to evaluate and deploy the ILiAD technology platform worldwide. As a strategic investor and partner, Schlumberger New Energy is working closely with EnergySource Minerals in the industrialization and deployment of the platform.
"Energy Source Minerals' technology shows great promise as an efficient, economical, and environmentally friendly solution for lithium extraction from brines," said Gavin Rennick, President of Schlumberger New Energy. "We are excited by the opportunities to scale up this solution to support the increased demand for lithium, motivated by the electric vehicle industry's growth ambitions."
As the world transitions to a clean energy economy, lithium demand is increasing dramatically. Currently, lithium mining has a high environmental cost and a dependence on just a few countries worldwide. A technology change is required to leverage a broader, more sustainable resource base to address the requirements of countries committed to a cleaner future.
"We need a monumental ramp-up of lithium production to meet the global demand from EVs and the renewable energy transition," said Brian Menell, TechMet's Chairman and CEO. "EnergySource Minerals' pioneering DLE technology has the potential to scale lithium production globally while minimizing environmental impacts and we are hugely excited to be supporting the development of its first commercial operation on the Salton Sea."
About EnergySource Minerals
EnergySource Minerals is a privately held company leading the development of Project ATLiS—a premier lithium project located in Imperial County, California, United States—as well as the ILiAD technology platform, which is being developed and deployed to lithium operations worldwide.
The EnergySource Minerals team comprises leaders in industrial project development, continuous adsorption and ion exchange processes, and battery materials. A 30-year veteran of ion exchange and adsorption technology, Dr. Charles Marston has led the ILiAD technology project. Dr. David Deak (former CTO of Lithium Americas Corp, ex-Tesla) and EnergySource Minerals CTO John Featherstone provide leadership support for ILiAD and our own project development initiatives.
TechMet is a private company that invests across the Li-ion battery metal supply chain, including production, processing, and recycling. TechMet's major shareholders include the U.S. International Development Finance Corporation and the global energy trader Mercuria, and their advisory board is led by Admiral Mike Mullen, former Chairman of the Joint Chiefs of Staff under Presidents G.W. Bush and Obama.
About Schlumberger New Energy
Schlumberger is the world's leading provider of technology to the global energy industry. Schlumberger New Energy explores new avenues of growth by leveraging Schlumberger's intellectual and business capital in emerging new energy markets, with a focus on low-carbon and carbon-neutral energy technologies. Its activities include ventures in the domains of hydrogen, lithium, battery storage, carbon capture and sequestration, geothermal power and geoenergy for heating and cooling buildings.
Plastic Energy and TotalEnergies | January 11, 2022
Plastic Energy and TotalEnergies have announced a new agreement to promote the development of advanced plastic recycling. Under this agreement, Plastic Energy plans to build a second advanced recycling plant in Sevilla, Spain, in addition to their existing operational plant, which will transform end-of-life plastic waste into a recycled feedstock called TACOIL using Plastic Energy’s patented recycling technology. TotalEnergies will convert this raw material into virgin-quality polymers, which can be used for food-grade packaging.
The plant will process and convert 33,000 tons of post-consumer end-of-life plastic waste yearly, that would otherwise be destined for landfill or incineration. The plant is expected to become operational in early 2025, with TACOIL to be used for the manufacturing of high-quality polymers in TotalEnergies’ European-based production units, following a successful processing experimentation in TotalEnergies’ petrochemical platform in Antwerp. With identical properties to virgin ones, the recycled polymers will be suitable for use in food-grade applications, such as flexible and rigid food packaging containers.
Plastic Energy and TotalEnergies are both firmly committed to develop plastics recycling to address the issue of plastic waste, and to build a circular economy in Europe and globally. In line with this commitment, TotalEnergies and Plastic Energy have announced in September 2020 a joint venture to build a plastic waste conversion facility with a capacity of 15,000 tonnes per year at the TotalEnergies Grandpuits zero-crude platform in France. The project is expected to be operational in 2023.
Additionally, Plastic Energy, Freepoint Eco-Systems and TotalEnergies announced a strategic partnership in October 2021 for a similar recycling plant in Texas, U.S.A. This plant, which is a joint venture between Plastic Energy and Freepoint Eco-systems, will have the capacity to recycle 33,000 tonnes of plastic waste per year, and is expected to be operational by mid-2024. Under the agreement, TACOIL will be converted by TotalEnergies in its Texas-based production units.
“I am pleased to announce another new Plastic Energy plant in Spain, and a new collaboration agreement with our partner, TotalEnergies. This new large-scale recycling plant will be an impactful addition to our existing portfolio of operational plants in Spain and will allow for an increase in the amount of end-of-life plastics that we can recycle in Europe.”
Carlos Monreal, founder and CEO of Plastic Energy
“This new project with Plastic Energy in Spain follows two collaboration projects already announced in France and the U.S. Those projects contribute to addressing the challenge of the circular economy and to our ambition of producing 30% recycled and renewable polymers by 2030,” said Valérie Goff, Senior Vice President, Polymers at TotalEnergies.
About Plastic Energy Ltd.
Plastic Energy is a global leader in chemical recycling, offering a sustainable solution to help prevent plastic waste, transforming previously unrecyclable plastic waste into a valuable resource. Our patented and proven chemical recycling technology converts end-of-life plastic waste into an optimal feedstock (TACOIL) for making virgin-quality recycled plastics. Plastic Energy currently has two chemical recycling plants that are in constant operation in Spain and is one of the few companies worldwide that has sold TACOIL from the conversion of end-of-life plastic waste to replace fossil oils in the manufacturing of new plastics. We are leading our field in the transition to a low-carbon circular economy for plastics.
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Summit Carbon Solutions | February 02, 2022
Summit Carbon Solutions announced further progress on its carbon capture and storage project with the filing of its pipeline permit application in the state of Iowa with the Iowa Utilities Board. Summit's project will connect ethanol biorefineries across five states in the upper Midwest – Iowa, Minnesota, Nebraska, North Dakota, and South Dakota – with the largest portion of the project, consisting of 12 ethanol biorefineries and over 680 miles of carbon dioxide pipeline, in Iowa.
By capturing and permanently storing carbon dioxide emissions from partner ethanol biorefineries, Summit Carbon Solutions will cut the carbon footprint of their ethanol in half, which will ensure the environmental and economic sustainability of these facilities for the long term by opening new markets and improving profitability.
Summit recently began acquiring right-of-way easements for the pipeline component of the project across its five-state footprint. As a company rooted in agriculture, Summit places a heavy emphasis on landowner engagement and is focused on working with landowners who wish to voluntarily participate.
"We're pleased to have begun the permitting process for Summit Carbon Solutions, which keeps us on schedule to be operational in the first half of 2024. This project will be transformational for the ethanol industry and, by extension, the agriculture industry. Farmers and landowners in Iowa understand that ethanol production consumes over 50% of our corn crop every year, which is a big reason why we've had early success signing hundreds of pipeline easements with farmers who have a vested interest in our success."
Bruce Rastetter, CEO of Summit Agricultural Group
Summit will continue its permit application process with other states and jurisdictions in the coming months as it proceeds to develop the first interstate carbon capture and storage project in the United States.
ECOTEC | February 04, 2022
Ecotec International Holdings, LLC (“ECOTEC”), a global leader in methane emissions monitoring, is pleased to announce a strategic investment by funds managed by Intrepid Investment Management, LLC, the investing arm of Intrepid Financial Partners, L.L.C. Intrepid is a leading energy-focused merchant bank with over 50 employees, and expertise in upstream, midstream, downstream, oilfield services and energy transition. ECOTEC provides a comprehensive suite of patented, cutting-edge instrumentation and software solutions to companies, organizations, and municipalities around the world, helping them manage and remediate their environmental footprint by accurately identifying and quantifying their greenhouse gas emissions.
ECOTEC has an over thirty-year history of the design, development and implementation of instrumentation and software for emissions detection and compliance within the natural gas, biogas, carbon credits and air quality industries, with recent expansion into the oil and gas industry.
The company will use the proceeds to accelerate the production and roll-out of its patented instrumentation and emissions data collection software to fulfill strong customer demand in the biogas and oil and gas industries.
“We believe this is a unique opportunity to partner with thought leaders in the oil and gas and energy transition industries, particularly as we continue to grow our oil and gas business. The Intrepid team brings over 200 years of collective experience advising and investing in the energy and energy transition sectors through multiple cycles and against secular changes throughout their history – that experience and their industry relationships are central to our partnership and creating value for our customers and stakeholders.”
Tim Novick, CEO of ECOTEC
Skip McGee, Co-Founder and CEO of Intrepid, says, “We are incredibly excited to be partnering with ECOTEC as they continue to grow their business, and in particular, as they expand into oil and gas. ECOTEC has historically been a leader in emissions solutions to the biogas and utilities industry, and they are well- positioned to leverage their decades-long experience to provide expert solutions for the oil and gas industry. We have known members of the management team for almost two decades, and we look forward to working with them on the very important mission of building a path towards a lower-carbon world.”
ECOTEC specializes in the design and development of specialty equipment and software solutions for the natural gas, biogas, renewable natural gas, carbon credit and oil and gas markets through its ECOTEC, AQMESH, GAS DATA, and GAZOMAT brands. With offices around the globe, ECOTEC's comprehensive solutions have been deployed around the world to help companies, organizations and municipalities identify, quantify, and remediate their environmental footprint, particularly through reductions in methane emissions.
Intrepid is a merchant bank that provides investment banking and investing management services. Intrepid’s leading boutique investment banking business provides independent and best-in-class merger & acquisition, restructuring and capital markets services to the energy and energy transition industries, and has advised on ~$150 billion of transactions since 2015. Intrepid’s investment management business makes principal debt and equity investments through its managed funds. Current strategies include private equity, infrastructure and venture capital across energy and energy transition.