ILiAD Technologies, LLC, a subsidiary of EnergySource Minerals (ESM), proudly announces the successful completion of its latest funding round, highlighted by a substantial investment from global technology leader SLB (NYSE: SLB). This strategic investment marks a significant milestone for ILiAD Technologies, further solidifying its role in revolutionizing direct lithium extraction (DLE) technology on a global scale.
With SLB’s investment, ILiAD is poised to expand the deployment of its cutting-edge DLE technology across major lithium production sites worldwide. This investment follows an initial stake by Arcadium Lithium (NYSE: ALTM, ASX: LTM), which acquired a minority share and secured deployment rights for ILiAD’s platform in Argentina. SLB’s commitment will enhance ILiAD’s capabilities to sustainably produce lithium, crucial for the energy transition and electric vehicle (EV) market.
Samuel Moore, CEO of ILiAD Technologies, expressed his enthusiasm, stating, “This investment is a testament to the effectiveness and scalability of our DLE technology. SLB’s backing validates our technology’s potential and amplifies our efforts to deliver cost-effective and environmentally friendly solutions in lithium extraction.”
Nicholas Lugansky, SLB’s head of mining, remarked, “Our continued partnership with ILiAD reinforces our commitment to advancing sustainable lithium production. Their innovative technology aligns with our goal of meeting global energy transition demands through efficient and eco-friendly solutions.”
ILiAD’s unique approach to lithium extraction not only reduces the physical footprint and carbon emissions compared to traditional methods but also demonstrates significant potential for addressing the growing demand for high-quality lithium products. The technology’s integration into SLB’s sustainable solutions underscores its critical role in the electrification of the economy.
As ILiAD Technologies progresses, the company’s groundbreaking advancements in DLE technology are set to play a pivotal role in the future of lithium production, contributing to the broader goals of sustainability and energy innovation.
Editorial Opinion: ILiAD Technologies stands at the forefront of a crucial industry transformation. By leveraging advanced DLE technology, ILiAD addresses two critical global challenges: the sustainable production of lithium essential for green technologies and the environmental impact of traditional extraction methods. The strategic investment from SLB and the previous backing from Arcadium Lithium highlight the confidence and excitement in ILiAD’s potential. The company’s innovative approach not only promises to enhance lithium extraction efficiency but also contributes significantly to global sustainability goals. As the demand for electric vehicles and renewable energy solutions grows, ILiAD’s advancements could be pivotal in meeting these needs while minimizing environmental impact.
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