TORONTO, ON / ACCESSWIRE / March 20, 2024 / Forward Water Technologies Corp. (TSXV:FWTC) (the "Company" or "FWTC") is pleased to announce a collaboration with CleanTech Lithium PLC ("CleanTech Lithium") and Conductive Energy Inc. in the supply of their industrial forward osmosis (iFOTM) system for use in the hyper-concentrating of CleanTech Lithium's eluate and its conversion into battery grade lithium carbonate by use of Conductive Energy's Direct Lithium Extraction ("DLE") conversion process. The large-scale production volume of battery grade lithium carbonate is intended to validate CleanTech Lithium's DLE process design and its commercial scalability. The produced battery grade lithium carbonate is expected to be supplied to battery and automotive manufacturing companies as part of the evaluation process within their long-term offtake agreements. The collaboration between FWTC and CleanTech Lithium signals CleanTech Lithium's progression towards full-scale commercialization as the need for sustainable lithium production supply increases on a global scale due to the transition to electric mobility worldwide.
Grant Thornley, VP Engineering Sales for FWTC says, "Use of iFO™ in the hyper-concentrating of DLE eluate delivers operating simplicity to CleanTech Lithium's DLE process while realizing improved economics in lithium plant yield when compared to processes still using conventional thermal evaporation."
Furthermore, FWTC's CEO C. Howie Honeyman says, "We are proud to be a part of CleanTech Lithium's strategy of providing high quality materials to the market while simultaneously producing the target materials with the best-in-class sustainable methods from the onset of production."
About CleanTech Lithium
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to produce material quantities of battery grade lithium using Direct Lithium Extraction technology, powered by renewable energy. The Company plans to be a leading supplier of 'green' lithium to the EV and battery manufacturing market.
For further information, please visit www.ctlithium.com/
About Forward Water Technologies Corp.
Forward Water Technologies Corp. (TSX.V: FWTC) is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, DLE, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.
For more information, please visit www.forwardwater.com.
Contact Information
For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
(519) 333-5888
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.ca. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.
SOURCE: Forward Water Technologies Corp.
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