Will Direct Lithium Extraction Disrupt the $90B Lithium Market?
Current lithium extraction and refinement methods are outdated, often harmful to the environment, and ultimately inefficient. So much so that by 2030, lithium demand will outstrip supply by a projected 1.42 million metric tons. But there is a solution: Direct lithium extraction (DLE).
For this graphic, we partnered with EnergyX to try to understand how DLE could help meet global lithium demands and change an industry that is critical to the clean energy transition.
The Lithium Problem
Lithium is crucial to many renewable energy technologies because it is this element that allows EV batteries to react. In fact, it’s so important that projections show the lithium industry growing from $22.2B in 2023 to nearly $90B by 2030.
But even with this incredible growth, as you can see from the table, refined lithium production will need to increase 86.5% over and above current projections.
| 2022 (million metric tons) | 2030P (million metric tons) | |
|---|---|---|
| Lithium Carbonate Demand | 0.46 | 1.21 |
| Lithium Hydroxide Demand | 0.18 | 1.54 |
| Lithium Metal Demand | 0 | 0.22 |
| Lithium Mineral Demand | 0.07 | 0.09 |
| Total Demand | 0.71 | 3.06 |
| Total Supply | 0.75 | 1.64 |
The Solution: Direct Lithium Extraction
DLE is a process that uses a combination of solvent extraction, membranes, or adsorbents to extract and then refine lithium directly from its source. LiTASTM, the proprietary DLE technology developed by EnergyX, can recover an incredible 300% more lithium per ton than existing processes, making it the perfect tool to help meet lithium demands.
Additionally, LiTASTM can refine lithium at the lowest cost per unit volume directly from brine, an essential step in meeting tomorrow’s lithium demand and manufacturing next-generation batteries, while significantly reducing the footprint left by lithium mining.
| Hard Rock Mining | Underground Reservoirs | Direct Lithium Extraction | |
|---|---|---|---|
| Direct CO2 Emissions | 15,000 kg | 5,000 kg | 3.5 kg |
| Water Use | 170 m3 | 469 m3 | 34-94 m3 |
| Lithium Recovery Rate | 58% | 30-40% | 90% |
| Land Use | 464 m2 | 3124 m2 | 0.14 m2 |
| Process Time | Variable | 18 months | 1-2 days |
Providing the World with Lithium
DLE promises to disrupt the outdated lithium industry by improving lithium recovery rates and slashing emissions, helping the world meet the energy demands of tomorrow’s electric vehicles.
EnergyX is on a mission to become a worldwide leader in the sustainable energy transition using groundbreaking direct lithium extraction technology. Don’t miss your chance to join companies like GM and invest in EnergyX to transform the future of renewable energy.
