G1 Energy Signs Joint Development Agreement for Lithium Extraction with San Diego State University, USA

[Asia Economy Reporter Jang Hyowon] GEN1 Energy announced on the 6th that it has signed a direct joint research and development support agreement with San Diego State University (SDSU) in the United States for direct lithium extraction.

This agreement is an additional contract related to the memorandum of understanding signed last December between Lithium Korea, an affiliate of GEN1 Energy, and San Diego State University.

GEN1 Energy will conduct joint research on direct lithium extraction with San Diego State University and will jointly own the intellectual property rights and have usage rights. The main research areas include comprehensive studies and technology development covering geothermal power generation, mineral extraction, battery manufacturing and utilization using lithium, as well as battery recycling and mineral recovery.

GEN1 Energy also expects cooperation with the geothermal power plant owned by Omat Technology, which is currently under acquisition. Since both the geothermal power plant and San Diego State University are located in Brawley, the company explained that synergy can be created in the direct lithium extraction business.

A company official said, "The research team at San Diego State University, specialized in related research and led by Dr. William Tong, will participate," adding, "We will accelerate new business by introducing commercially viable direct lithium extraction technology."

Meanwhile, San Diego State University has signed memorandums of understanding with global leading lithium-related companies such as Berkshire Hathaway Energy, Controlled Thermal Resources, and Energy Source Minerals. The state of California is also supporting lithium-related research by investing $80 million in the Brawley campus.