CHANGING THE WAY INDUSTRY HANDLES WASTEWATER
Water that would otherwise be forever lost to be re-introduced into manufacturing operations, creating a strong ROI's and dramatically reducing their environmental impact
Message: VIDEO - Forward Water Technologies $FWTC Forward Osmosis Process Puts It At Helm of Lithium Extraction Industry With 6 Majors Signed To NDAs
The global lithium market size was valued at USD 6.83 billion in 2021 and is expected to expand at a compound annual growth rate of 12.0% from 2022 to 2030.
Electrification of vehicles is projected to attract a significant volume of lithium-ion batteries, thus anticipated to drive the market over the forecast period. The automotive application segment is expected to witness substantial growth over the forecast period, driven by stringent regulations for ICE automakers imposed by government bodies to reduce carbon dioxide emissions from vehicles.
This has shifted the interest of automakers toward producing EVs, which is anticipated to benefit the demand for lithium and related products. Government subsidies for EVs, along with investments in this space, are likely to act as an additional booster to the growth of the market.
HOWEVER - BRINE MINING HAS AN EXPENSIVE AND ESG PROBLEM
Brine mining is the isolation of valuable materials from naturally occurring mineral solutions in aquifers or similar underground deposits. These materials include in-demand rare earth elements and other metals such as lithium. However, these brines often have very low levels of these valuable materials and require significant concentration to enable them to be economically retrieved. Today, this is usually done using solar or forced thermal evaporation, both of which have high energy costs and long processing times. In addition, traditional methods have proven to have detrimental effects on the environment.
ENTER FORWARD WATER TECHNOLOGIES (FWTC: TSXV) - 6 NDAs SIGNED WITH LITHIUM EXTRACTION COMPANIES
$FWTC low energy forward osmosis process can concentrate the valuable materials from these brines with much greater efficiency and at a lower cost. Additionally, the clean water extracted in the process can be also re-used, sent to replenish the aquifer source, or discharged to surface for agricultural purposes. This is a significant advantage compared to incumbent approaches.
Recent studies in FWT’s labs using real world brines have shown that highly effective concentration using the Company’s forward osmosis process can be readily achieved in the lithium sector. In many of the test cases conducted by $FWTC, over 90% of the water has been removed from the brines. The reduction of water in the brines has led to more than a 10 times increase in lithium concentration.
President and CEO, Dr. Honeyman says “laboratory results confirmed that high levels of lithium concentration can be effectively accomplished and will enable new more efficient lithium isolation “.
This is especially important as the demand for material such as lithium is expected to vastly outstrip supply for many years to come. The world’s demand for lithium extraction is growing every day and, especially driven by an increased lithium use in new consumer electronic battery technologies and electric cars, the demand is expected to increase by approximately 800% in the next two decades as well as outpace hard-rock mining.
$FWTC IS ALREADY COMMERCIALIZING IN OTHER VERTICALS
While the markets await to hear the identities and progress with these 6 lithium extraction companies, small cap investors should know that $FWTC is already commercializing its technology in other verticals, a summary of which is as follows:
● LOI - Membracon UK to deliver Forward Water's proprietary forward osmosis processes and solutions within the United Kingdom and Ireland
o developing application within the UK for a landfill wastewater solution
● UK and Europe … multiple ongoing trials pending with
● INDIA, … partner Goldfinch Engineering
o leachate space (municipal wastewater)
o oil and gas support services
o Lithium extraction
▪ recently signed NDAs with 6 major lithium extraction companies
Moreover, the company recently announced a partnership with Aquaporin.
Why is this significant? Aquaporin has invested $70,000,000 in R&D before going public on the Denmark NASDAQ … and has Nobel Peace Prize winning pedigree.
Forward Water will sell Aquaporin's unique biomimetic forward osmosis membranes for applications associated with lithium mining and extraction and water management within the Oil & Gas industry.
The use of Aquaporin's membranes within Forward Water's industrial forward osmosis systems has the potential to deliver a new level of performance; higher water selectivity, cleaner permeate for reuse, higher recovery percentage, and most importantly lower operation costs.
What does Aquaporin CEO Matt Boczkowski have to say?
“I am pleased to have Forward Water as strategic partner. North America, lithium mining, and the Oil & Gas industry are three markets where our forward osmosis technology not only offers a new level of performance but also empowers customers to take responsibility for the Earth we live on, and the water supplies we live off. We are pleased to embark on this journey with Forward Water."
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