LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) has signed a Memorandum of Understanding (MoU) with ZS2 Technologies Inc. Through the agreement ZS2 will deploy its carbon capture technology at the Boardwalk and Park Place projects in Alberta, Canada. The former consists of 30 contiguous Alberta Metallic and Industrial Mineral permits covering an area of 572,237 acres.
ZS2 will also be tasked with processing brine to extract magnesium and calcium carbonates, which will in turn be utilized in the company’s proprietary magnesium cement products. The company claims that products based on magnesium are safer, healthier, stronger and more resilient compared to conventional building materials, and coatings.
“Partnering with the extraordinary team at ZS2 is truly a game-changer in the lithium brine industry,” commented Paul Matysek, Executive Chairman, LithiumBank. “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 LithiumBank apart from its peers.”
Relevant: Standard Lithium And Aqualung Move Forward With Carbon Capture Pilot Plant
According to the agreement, LithiumBank will supply ~25,000 cubic metres of brine every year to ZS2 and share a part of the carbon credits it generates from its CO2 capture efforts.
“[This project is a] clear demonstration of how we can solve the world’s biggest problems using the talent and resources that are abundant in our province. Working together to combine lithium extraction for green energy along with magnesium and calcium for carbon-neutral cement is a big step forward in diversifying our economy and supplying the materials the world needs,” said Scott Jenkins, CEO and Co-Founder at ZS2 Technologies.
Read more: “Sublime Systems Eliminates Fossil Fuels From Cement Production” – CEO Dr. Leah Ellis
