- The division said it has invested more than $15 million in the direct lithium extraction process and expects the development and operation of the Nevada plant to require similar funding
- The demand for battery-grade lithium is projected to grow exponentially due to growth in the electric vehicle market
As per a report by Reuters, Schlumberger’s New Energy division said on Thursday it would launch a lithium extraction plant in Nevada to leverage the increasing demand for the battery metal from electric vehicle makers and technology companies. The division said it has invested more than $15 million in the direct lithium extraction process and expects the development and operation of the Nevada plant to require similar funding.
Demand for battery-grade lithium is projected to grow exponentially
The report added that Schlumberger New Energy said it would extract lithium from brine, which occurs naturally around its proposed project site at Clayton Valley in Nevada. It will do it in a way that is more efficient than the industry standard of using evaporation ponds. Schlumberger New Energy said the commissioning of its Nevada facility will begin following the receipt of all necessary permits, with NeoLith Energy intending to begin operations before the end of 2021.
The demand for battery-grade lithium is projected to grow exponentially due to growth in the electric vehicle market. Efficient production of the metal has become an important topic for regions, industries, and technology companies
