Fintech PR

Lithium Based Batteries Offer Higher Energy Density Alongside Lower Emissions

Published

1 year ago

June 27, 2023

FinancialBuzz.com News Commentary

NEW YORK, June 27, 2023 /PRNewswire/ — Lithium has emerged as a critical element in today’s world, revolutionizing the energy sector and driving advancements in technology. One of the key advantages of lithium is its efficiency in storing and releasing electrical energy. Lithium-ion batteries, for example, offer higher energy density, longer lifespan, and faster charging capabilities compared to traditional alternatives. These batteries contribute to reducing greenhouse gas emissions and dependence on fossil fuels, supporting the global shift towards sustainable energy. Such batteries are often used in electric vehicles (EVs), and as the demand for renewable energy and EVs continues to soar, the lithium market has become increasingly important. EVs are promoted as a sustainable transportation choice on account of life-cycle basis, as they emit fewer greenhouse gases (GHG) than conventional vehicles. For instance, Tesla is planning for next-generation EV batteries that would focus on introducing Li-iron phosphate batteries to market. This will cut the vehicle costs, and extend the vehicle range up to 400 miles per charge or more. Sage Potash Corp. (TSX-V: SAGE), American Lithium Corp. (NASDAQ: AMLI), Standard Lithium Ltd. (NYSE: SLI), Sigma Lithium Corporation (NASDAQ: SGML), FREYR Battery (NYSE: FREY)

The EV industry is still in early stages, yet the strong growth in lithium-ion battery production is now driving the entire lithium market. According to S&P Global, lithium prices are likely to see strong support in 2023, with supply expected to remain tight amid bullish demand arising from the accelerating adoption of electric vehicles across the globe. This is despite the slowdown in the Chinese market, which could affect prices as well. Platts, part of S&P Global Commodity Insights, assessed seaborne lithium carbonate and lithium hydroxide at USD 75,000/mt CIF North Asia and USD 81,000/mt CIF North Asia Dec. 20th, up 122% and 156%, respectively, since the start of 2022.

Sage Potash Corp. (TSX-V: SAGE) just announced breaking news regarding the, “formation of a U.S. subsidiary, Sage Lithium Corp. (“Sage Lithium”). Due to multi-commodity brines with high Li-K-Br analyses reported from historic oil and gas wells in the area, the Company is encouraged to explore additional potential revenue sources known to occur within the Paradox Basin. The primary objective of Sage Lithium will be to conduct testing for lithium and other soluble saline minerals within the existing brine hosting strata covered by Sage Potash’s private mineral lease portfolio. Sage Lithium will be operating in conjunction with its parent company, Sage Potash, which is in the process of applying for Class V Authorization by rule to drill two exploration wells that are planned to function as an initial pilot production well and a brine disposal well. Concurrently, Sage Lithium will sample, test, and analyse strata that are amenable to brine extraction for lithium, bromine and other soluble saline minerals.

This strategic decision is grounded in the Company’s assessment of historical records derived from oil, gas and potash wells drilled in the Paradox Formation. The Company believes these records indicate a strong possibility of intersecting super-saturated brines (composed of up to 40% minerals and 60% water) containing a diverse range of valuable minerals, including lithium, bromine and potassium, in the Paradox Formation. Sage Potash holds private mineral leases located in the Paradox Basin that grant the Company exclusive rights to extract potash, lithium, and other saline minerals and resources.

Sage Lithium will operate as a standalone subsidiary exploring the mineral leases for lithium and other soluble saline minerals on 17,277 acres of private mineral and surface leases owned by its parent company, Sage Potash.

The Paradox Formation is host to brine-bearing strata that has been the focus of numerous lithium exploration companies, including Anson Resources (OTC: ANSNF) which has reported on its plans to develop its 530 MT indicated resource grading 123 ppm Li and 3,474 ppm Br, in the northern part of the Paradox Basin.

The Company believes that historic oil and gas wells throughout the Paradox Basin were seldom analysed for lithium, bromine, potassium, and boron, though the few that were sampled returned concentrations ranging from 66ppm to 1,700ppm lithium, 18,800 ppm to 47,000 ppm potassium, and 1,150 ppm to 6,100 ppm bromine.

Sage Potash CEO, Peter Hogendoorn, commented, “When we included ‘saline mineral rights’ in our initial private mineral leases, we didn’t realize at the time how much lithium interest would develop in the Paradox Basin/Lisbon Valley. Using SQM (Sociedad Quimica y Minera de Chile S.A.) as a model, which can be considered either the world’s lowest cost lithium producer or potash producer, management believes there is a significant opportunity to leverage both the geology and its lease rights to add considerable shareholder value for multiple complementary mineral development streams, or as an eventual company spin-off.”…

Qualified Persons: Patricio Varas, P.Geo., a Qualified Person as defined by NI 43-101, has read and approved all technical and scientific information related to the historical brine data contained in this news release. Mr. Varas is the Chief Operating Officer and Vice President Exploration for Sage Potash. Mr. Varas has reviewed the data disclosed in this press release but has not verified historic assay information.”

American Lithium Corp. (NASDAQ: AMLI) announced recently that it has completed its strategic investment (the “Investment”) in Surge Battery Metals Inc. (“Surge”). The Investment of C$5,360,000 represents the full commitment from American Lithium and is the cornerstone investment in the recently announced Surge private placement. American Lithium now holds approximately 9.7% of the total issued and outstanding shares of Surge. In connection with the Investment, American Lithium has been issued 13,400,000 units (each, a “Unit”) of Surge at a price of $0.40 per Unit with each Unit being comprised of one common share and one share purchase warrant (each, a “Warrant”). Each Warrant is exercisable for a period of three years from the date of issuance at a price of $0.55 per share. The securities comprising the Units and any shares underlying the Warrants may not be sold until October 10, 2023 (being four months and a day from their issuance).

Standard Lithium Ltd. (NYSE: SLI) reported back in May that, as part of the resource definition work at its South West Arkansas Project (see news release dated 20th March 2023) it has sampled, to the best of its knowledge, the highest confirmed lithium grade brine in Arkansas, with a grade of 581 mg/L. These sampling data follow similar high-grade results from the Company’s resources in Texas (see news release dated 28th March 2023). Dr. Andy Robinson, President and COO of Standard Lithium commented, “We continue to be very pleasantly surprised by the lithium grades sampled from our projects in Arkansas and Texas. We previously developed the Preliminary Economic Assessment (PEA) for the SWA Project using a conservative assessment of the lithium brine grades across the project area. Using that conservative resource basis still yielded a PEA with very attractive project economics (after-tax NPV US$1.97 Billion and IRR of 32% at 8% discount rate; see news release dated 12th October 2021). This recent infill drilling work to further define the lithium resource has resulted in a marked upside to the in-situ lithium grade. In our experience, the grade of lithium in brine used for Direct Lithium Extraction (DLE) has a meaningful impact on both capital expenditures and operating costs in connection with the extraction process, so a higher grade typically results in lower overall costs and should have a positive effect on project economics in the forthcoming Preliminary Feasibility Study (PFS). We are delighted that sampling from this recent well has led us to find lithium brine with the highest confirmed grade in Arkansas, and we look forward to incorporating these into the forthcoming PFS.”

Sigma Lithium Corporation (NASDAQ: SGML) announced last year the positive economic results of its study (“Production Expansion Study”) for a potential integrated production increase of Battery Grade Sustainable Lithium Concentrate from 270,000 tpa (36,700 tpa LCE) commencing in 2023 to 768,000 tpa (104,200 tpa LCE) in the second year at the Company’s 100% owned Grota do Cirilo Project (the “Project”), currently in construction in Minas Gerais, Brazil. The Production Expansion Study demonstrated robust Project economics, highlighted by an after-tax NPV8% of US$15.3 billion, incorporating production from Phase 1 (nearing commissioning initiation) combined with Phase 2 and Phase 3.

FREYR Battery (NYSE: FREY) engages in the production and sale of battery cells for energy storage system, electric mobility, marine, and aviation applications in Europe and internationally. The company designs and manufactures lithium-ion based battery cell facilities. Back in March, the Company announced that it has entered into discussions on a potential strategic coalition with Glencore Plc (LN: GLEN), Caterpillar Inc. (NYSE: CAT), Siemens AG (GY: SIE), and Nidec Corporation (TSE: 6594) to pursue the scale up of sustainable battery solutions across Europe, North America, and beyond.

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Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

1 hour ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.

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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html

Fintech PR

China Telecom Gulf Officially Launches in Saudi Arabia for Business

Published

2 hours ago

November 23, 2024

CISION (PR Newswire)

china-telecom-gulf-officially-launches-in-saudi-arabia-for-business

HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company (STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

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View original content:https://www.prnewswire.co.uk/news-releases/china-telecom-gulf-officially-launches-in-saudi-arabia-for-business-302314765.html

Fintech PR

Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

Published

17 hours ago

November 23, 2024

CISION (PR Newswire)

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SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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