6th Wave Innovations Corp. and TriLateral Energy
Form Geolithic Corp., a Geothermal Minerals
Extraction Nanotechnology Joint Venture
BOCA RATON, Fla. and SALT LAKE CITY, Jan. 25, 2017 /PRNewswire/ — 6th Wave Innovations Corp. (a nanotechnology company that develops proprietary molecularly imprinted polymers for minerals extraction in mining applications) has teamed up with TriLateral Energy, LLC, (an independent energy developer with extensive geothermal operations and construction experience) to form Geolithic Corp., a joint venture for the extraction of lithium and other minerals from geothermal brine.
6th Wave has already commenced laboratory testing of the proprietary lithium extraction technology, which could significantly reduce the cost of producing lithium and other minerals compared to traditional mining and other mineral extraction techniques. Such minerals are naturally present in the brine utilized by many existing geothermal power plants in the U.S. and worldwide.
Geolithic Corp. plans to construct a pilot project extraction plant at one or more U.S. geothermal energy facilities, with a design that will seamlessly integrate with the facility’s existing brine handling facilities to extract the lithium and other minerals prior to reinjection of the brine into the geothermal reservoir.
Under the Joint Venture agreement, 6th Wave will retain all rights to its proprietary molecularly imprinted polymer nanotechnology but will provide an exclusive license to Geolithic Corp. for geothermal minerals extraction.
Dr. Jonathan Gluckman, CEO of 6th Wave said, “We are pleased at the opportunity to work closely with Trilateral Energy, which has decades of geothermal power plant construction and operations experience and extensive contacts in the industry. I am confident this joint venture will establish proof of concept with a pilot lithium extraction plant in the United States.”
Don O’Shei, CEO of TriLateral Energy, stated, “I was an early investor in 6th Wave and believe that the application of this groundbreaking extraction technology to geothermal brine has the potential to significantly lower lithium and other mineral production costs. TriLateral will manage the commercial aspects of the joint venture and 6th Wave will manage the technical aspects as we move forward to combine our skill sets to construct the first pilot plant at an existing geothermal facility.”
SOURCE TriLateral Energy, LLC