Enertopia Corporation (OTCMKTS:ENRT), the Canadian exploration and development company, is in early talks about joint ventures and alliances which will monetize future production at its lithium project in Clayton Valley, Nevada.
The company hasn’t yet signed a deal with Tesla (NASDAQ:TSLA) or similar rivals, but the embrace of electric vehicles the world over is driving demand for lithium-ion batteries. Looking ahead, Enertopia president Robert McAllister thinks the company’s brine solution is set to have a “material impact” on where auto makers and other companies with such needs will source the lithium they require for electric vehicles and other battery needs.
READ: Enertopia Corp shares set to delist from the Canadian Securities Exchange; still mulling options
“We will continue to put news updates out as soon as possible as we move forward to reach our milestones, said Robert McAllister, Enertopia’s president, in a statement.
Indeed, in the period spanning from 2015 to 2018, shipments of lithium-ion batteries have jumped by 24% per year in terms of capacity to hit over 148,000 MWh. In another fruitful sign of expansion, big battery producers plan to invest over US$50 billion in manufacturing capacity over the next five years in China, the US and Europe, which is set to pump up battery capacity production to over 1.2TWh by 2030, according to a report from the commodity research group Roskill, cited by Enertopia.
In other news, Enertopia has signed a number of non-disclosure agreements concerning synthetic brine work completed last year and they are in good standing, according to McAllister. In a release, the company also moved to reassure investors by saying it holds no toxic debt. It also said it hasn’t completed engineering reports with third-party firms, “with respect to potential revenue scenarios at this time.”
Enertopia’s lithium project in Clayton Valley, Nevada is located near Albermarle Corporation’s (NYSE:ALB) Silver Peak lithium brine mine.