CISION PR NEWSWIRE: EnergySource Minerals Raises Strategic Investment from Schlumberger and TechMet to Scale Lithium Extraction Technology

The new investment partnership accelerates development of the most advanced and viable lithium extraction platform, known as ILiAD, which is already in deployment and operation.

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," noted Eric Spomer, EnergySource Minerals President and CEO. "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."

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