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LithiumBank Resources Signs MoU With ZS2 Technologies to Capture and Permanently Sequester CO₂ and Co-Produce Magnesium and Calcium From Boardwalk Brine
CALGARY, Alberta, April 13, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to ann
About this update from Lithiumbank Resources Corp.
[{"type":"text","content":" CALGARY, Alberta, April 13, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce it has signed a Memorandum of Understanding “(MoU”) with ZS2 Technologies Inc. (“ZS2”). The MoU will enable ZS2 to deploy their proprietary and patented CO2 Direct-Air-Capture (“DAC”) technology to capture carbon dioxide emissions from the Boardwalk and Park Place projects in central Alberta, Canada. ZS2 will also further process treated brine to collect magnesium (Mg) and calcium (Ca) for use in their proprietary magnesium cement products. Highlights Potential to capture and permanently sequester 100% of CO2 emissions produced from LithiumBank’s onsite power facility at Boardwalk ZS2 will co-produce magnesium and calcium onsite in a future integrated processing facility from treated brine after the lithium has been removed ZS2 will permanently sequester CO2 emissions in magnesium and calcium carbonates (MgCO3 & CaCO3) that will be used in their proprietary magnesium cement products The ZS2 processing facility will generate acid and base biproducts that can cost effectively be used in the Company’s lithium processing plant at Boardwalk The Mg and Ca stripping will consume treated brine and has the potential to reduce reinjection requirements by at least 10% “In our view, partnering with the extraordinary team at ZS2 is truly a game-changer in the lithium brine industry,” commented Paul Matysek, Executive Chairman, LithiumBank. “The potential to be a carbon neutral lithium producer in Alberta has been a goal of the Company from the outset and we now have a line of sight to achieving our goal. We are very excited to collaborate with ZS2 Technologies and enhance the economic and environmental benefits of our Alberta brine projects. Beyond just the value of carbon capture, we will be able to co-produce other critical minerals like magnesium as well as reducing our brine reinjection requirements. Our agreement will allow ZS2 to produce a high demand, low-carbon cement product among other by-products that can be used in our lithium processing facility further reducing our operating costs. We look forward to expanding and enhancing our partnership as we move towards a carbon neutral combined lithium-magnesium-calcium commercial production facility that will set Lithiu...