Lithium Korea Signs Lithium Extraction Research Agreement with SDSU, Which Secured 100 Billion KRW from U.S. State Government

[Asia Economy Reporter Jang Hyowon] Lithium Korea announced on the 14th that it signed a Memorandum of Intent (MOI) for cooperation on geothermal and lithium extraction industries and direct lithium extraction research with San Diego State University (SDSU) in the United States on the 9th (local time).

The management of Lithium Korea visited the Brawley campus of San Diego State University and held consultations with school officials and faculty members. Attendees included Professor John McMillan, head of the research initiative, Dr. Bill Tong, a chemistry professor, and Dr. Guillermina Nunez, who oversees the Calexico campus.

Through this agreement, Lithium Korea and San Diego State University plan to collaborate on research and technology related to geothermal and lithium extraction industries and direct lithium extraction being developed in the Salton Sea Known Geothermal Resource Area (SSKGRA) in Imperial County, California.

The main contents of the agreement include ▲ geothermal power generation and mineral extraction and battery manufacturing and utilization using lithium ▲ comprehensive research and technology development covering battery recycling and mineral recovery.

Lithium Korea conducted consultations considering the geothermal heating and cooling system technology of G1 Energy, a KOSDAQ-listed company currently being acquired. The company explained that the agreement recognizes their status as a partner who can contribute to future regional development through talent cultivation and workforce development necessary for technology development.

Faculty and students of San Diego State University plan to analyze and jointly solve issues related to geothermal, lithium extraction, and direct lithium extraction being developed at SSKGRA.

San Diego State University is conducting the most active lithium-related research by leveraging regional characteristics. The Brawley campus has already completed an $80 million investment in California and plans to complete a new building with educational, laboratory, and administrative facilities on a 8,093㎡ site.

In particular, San Diego State University has signed memorandums of intent with global leading companies in the lithium field such as Berkshire Hathaway Energy, Controlled Thermal Resources, and Energy Source Minerals.

A Lithium Korea official said, “This MOI signing is meaningful in that it recognizes the potential of the future business that Lithium Korea aims for,” and added, “We will complete the acquisition of G1 Energy this month and promote direct lithium extraction technology research with San Diego State University, which has strategic relationships with leading global companies.”