SMM2, June 24: two funds, (Breakthrough Energy Ventures and The Engine), led by Bill Gates and MIT, are investing $20 million in US start-up Lilac Solutions to reduce water consumption and improve sustainability in the exploitation of lithium resources.
'Lithium demand is growing rapidly and the main challenge for these startups is how to scale up, 'said Sharon Mustri, a metals analyst at BloombergNEF.
According to Bloomberg NEF, there may be a shortage of lithium resources in 2023. In addition, demand for lithium will quadruple within a decade.
Now that countries around the world are calling for a reduction in carbon emissions, people are turning more to lithium-ion batteries to power electric vehicles.
At present, there are two main methods for industrial extraction of lithium metal: ore extraction and salt lake brine extraction, in which ore extraction can be divided into spodumene extraction and lithium mica ore extraction.
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