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Despite a crash in lithium prices that has pushed some other firms to delay mining projects, Lilac Solutions has raised 145 million to extract lithium at a new site in the US and scale up in other locations. Lilac uses ion-exchange beads to selectively remove lithium compounds from salty brines. The company says its direct lithium extraction (DLE) technology can extract much more lithium than conventional brine-based processes, which use evaporation ponds to produce a concentrated, lithium-rich liquid. Lilac hopes to set up a new pilot plant on Utah's Great Salt Lake this year, and aims to produce 3, 000 metric tons per year of lithium chemicals by 2026. Lilac CEO David Snydacker says DLE processes will make it possible to produce lithium in places like the Great Salt Lake where the lithium concentration is too low for evaporation ponds. "We will see very few new evaporation ponds built for lithium
Matt Blois (Mon,) studied this question.