Carbon Chemist

Tag: The Innovation Platform Issue 19

  • Innovative floating wind technology to transform the renewable energy landscape

    Innovative floating wind technology to transform the renewable energy landscape

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    EnerOcean’s W2Power floating wind platform is advancing on proven mature offshore technologies to deliver a cost-effective and efficient deep-water offshore wind solution.

    Driven by the pressing need to reduce carbon emissions and reach net zero goals, the focus on renewable energy technologies is greater than ever at present.

    Wind energy is a highly promising renewable power source, offering cost-effective clean energy with low-maintenance requirements and high efficiency. In particular, floating wind power is gaining attention as it extends the benefits of offshore wind to countries with limited shallow waters, breaking down geographic barriers to renewable energy adoption.

    Floating wind power paves the way for a higher proportion of offshore wind energy to contribute to the global energy supply, offering greater flexibility to align with stringent environmental regulations – a pivotal factor in specific markets.

    Overview of W2Power

    Based in Spain, marine energy engineering company EnerOcean is dedicated to transforming the renewable energy sector with its development of the W2Power floating wind platform.

    The main objective driving the evolution of the W2Power technology is to be the most cost-effective floating offshore wind solution, reducing the global cost of energy, and also enabling other benefits like multi-use (aquaculture, energy storage, wave energy, etc.).

    floating wind

    W2Power in its current design allows up to 20 MW power on a single floating foundation, using two commercially used offshore wind turbines currently on the market. Since 2019, W2Power has been the first floating offshore wind platform in Spanish waters and the first twin-turbine floating solution to reach open-sea testing in the world, achieving TRL6.

    Broadening the opportunity for offshore wind power

    Floating wind has been identified as a way to obtain the benefits of offshore wind for countries that lack shallow waters. Even for countries that also have shallow waters, floating wind will allow less congestion in their seas. Floating wind also has fewer permitting problems. Worldwide, floating wind will allow a higher percentage of offshore wind into the energy supply. Having more options will make it easier for offshore wind developments to become compatible with environmental limitations.

    Cost-effectiveness

    One of the major challenges with floating offshore wind is the associated costs. Compared to bottom-fixed offshore wind, the industry as a whole has much less experience in the development of floating offshore wind farms. There is also the pressure to compete with other renewables. Whilst floating offshore wind does not need to be the cheapest solution, it must provide a higher value, e.g. by delivering more full-load hours (higher capacity factor) than other sources.

    The W2Power platform offers a cost-effective floating wind solution that has the maturity level to be included in planning complete projects. EnerOcean has completed a deep certification process to prove the level of maturity needed. W2Power’s highly considered design, that will have the industry’s lowest CapEx costs, promises to be pivotal in helping floating wind make a real impact on the energy system.

    There are several elements helping to reduce the cost of production for the W2Power platform.

    Firstly, the lightweight structure of the platform enables EnerOcean to optimise the amount of steel per megawatt of power.

    Another innovative element is using a smaller draft, allowing for the use of existing ports rather than going to specific ones further from the installation point. It also removes the need to reinforce or modify the harbours and ports.

    The system also uses smaller turbines at a lower height than other offshore wind offerings. Smaller turbines are lighter and result in a cheaper assembly and the lower height means that loads on the platform at sea are less, so it can use less steel than a platform for one huge turbine. In turn, the components used are also smaller and easier to mobilise (despite producing the same amount of power), reducing OpEx further.

    The system is self-orienting, meaning that the pair of turbines always stay facing the wind and facilitating the use of closely-spaced turbines. There is also no need for a yawing system for the turbines, which is one of the more unreliable components as it can take a long time to repair if there is a breakage.

    Multi-use solutions

    Bringing further value to the W2Power system, Enerocean has, in its R&D portfolio, been actively working for many years on several potential multi-use combinations for the platform.

    One of the more interesting combinations is the mix of offshore wind and fish farming. EnerOcean has worked closely with fish farming experts and, through collaborative discussions, has identified significant synergies between the two uses.

    Enerocean has, over the years, won numerous prizes and awards. Here the company’s third co-founder,
    Ana Isabel Mayorga, is holding the EU Atlantic Award for ‘Best Marine Renewable Energy project’. Ana has
    an MBA in construction-industry management and postgraduate degrees in Wind Power Engineering and
    Health & Safety and currently serves as Enerocean’s CFO

    Currently still pre-commercial, multi-use will need to be developed without complicating the permitting process. It also needs to be proven that the benefits from combining the two uses outweigh the added complexity. When the governments and investors understand that multi-use will ensure that sea space is used more efficiently, and there are also less environmental interactions, it will emerge as a clear option for
    many markets.

    Proven at-sea testing and continuous development

    Using an at-sea prototype has allowed EnerOcean to see its innovation proven at sea and is an important step in validating a technology solution. The real-life testing experience was a big step towards the validation of the floating unit, enabling the company to test the reliability, stability, installation, behaviour, and alignment in real time. During the testing period, the company did not need to perform any maintenance. It was able to check and install, and temporarily remove, the prototype using simple methods at sea. In recent R&D projects, Enerocean has validated the use of new and innovative materials.

    EnerOcean is also considering the use of new or alternative materials in some R&D projects. The company has been studying the use of concrete, flat panels, and composite for some of the components.
    This will enable the company to consider different options for different markets so it can adapt to the needs of potential clients all around the world.

    About the authors

    Eng. Pedro Mayorga, Co-Founder and the Chief Executive Officer
    Pedro holds an Industrial Engineering degree from Malaga University and worked in General Motors as a Manufacturing and Maintenance Engineer, and as a Technological Area Manager in the Electrical Technology Institute (Valencia). Since 2001, he was involved in or co-ordinated 50 R&D projects, public and private, national and European, most of which in offshore renewables. From 2007, he was CTO of EnerOcean, responsible for projects funded by national, regional and European bodies, before being promoted to the company’s CEO in 2022.

    Eng. Pedro Mayorga, Co-Founder and the Chief Executive Officer
    Dr Jan Erik Hanssen,
    Co-Founder

     

     

     

     

     

     

     

     

     

    Pedro served on Spanish and international Technology Platforms for H2 & Fuel cells and Electricity Networks ‘Smartgrids’, the latter on its advisory council. He is the author of numerous technical publications and inventor of several patents. As EnerOcean CTO, he has participated in FP7 projects Tidalsense, Tidalsense Demo, TROPOS, Eurostars Q-SAIL, H2020 RealTide and Reshealience as main researcher, and in national projects e.g. WAVEPORT, SEAMAR, ORPHEO, and in multiple MARINET testing rounds. He coordinated a project in the ERA-NET DemoWind where the W2Power floating platform was successfully demonstrated at sea. Pedro is also active in regional and national Industry Clusters and serves on the Board of APPA, Spain’s Association of Independent Power Producers, currently President of APPA’s Marine Energy section.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • The critical importance of boron supply in North America

    The critical importance of boron supply in North America

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    5E Advanced Materials is the newest producer in ‘The Boron Triangle’ of California, determined to bring more of this critical resource to the market.

    Boron is a versatile element you most likely have not heard of before. However, it has a range of industrial applications that play a pivotal role in shaping North America’s technological and economic landscapes. From aerospace advancements to agricultural innovations, its strategic significance spans multiple critical sectors.

    boron supply

    Boron applications

    Permanent magnets are materials that can maintain a magnetic field without an external power source. This unique characteristic results from the material’s atomic structure, which aligns the magnetic moments within the material in a specific direction. This alignment creates a persistent magnetic field, allowing permanent magnets to be utilised in a wide range of applications across industries.

    Aerospace and defence

    In the aerospace industry, boron compounds are integral to the development of lightweight composites and high-strength materials. These materials enhance fuel efficiency and bolster the structural integrity of aircraft, crucial for both commercial and defence applications. Boron’s role extends to defence technology, where it supports the production of advanced materials essential for national security.

    Nuclear power

    Boron’s neutron-absorbing properties make it indispensable in the operation of nuclear reactors. Used in control rods, boron helps regulate nuclear fission reactions, ensuring safe and efficient energy generation.

    Consumer electronics

    The electronics industry relies on boron compounds for manufacturing semiconductors and electronic components. These materials are fundamental to the production of smartphones, computers, and other advanced devices.

    Automotive innovation

    Boron-containing steel is pivotal in automotive manufacturing as it contributes to the production of high-strength, lightweight components. These materials enhance vehicle safety and fuel efficiency.

    Agricultural

    Boron serves as a vital micronutrient in agriculture, supporting the growth and development of crops essential for food security. Its incorporation into fertilisers ensures optimal crop yields and sustains agricultural productivity across North America.

    Accessing this critical resource

    So, how do you get exposure to this critical element?

    There is only one publicly traded option available that offers direct exposure to the upside of the boron market. 5E Advanced Materials (“5E”; NASDAQ: FEAM; ASX: 5EA) is that opportunity!

    Economic deposits of boron are uncommon globally, but there is an area in California, United States, known as ‘The Boron Triangle.’

    Searles Valley Minerals is a private company that produces anhydrous borax, pentahydrate borax, decahydrate borax, boric acid, sodium carbonate, sodium sulphate, sodium bicarbonate, sodium chloride, and sulphate of potash products.

    Rio Tinto, on the other hand, is a well-diversified major mining conglomerate with its boron mine nearby. Although the company is a significant player in the mining industry, there is no direct investment into Rio’s declining boron operation.

    Why 5E?

    This leads to 5E, a company ramping up its operations at its 5E Boron Americas Complex in the central Mojave desert.

    Commercial discussions with prospective customers have advanced along with the shipment of products for customer testing as the company continues to progress towards Phase 1 commercial operation of 90,000tpa. This key advancement will form the foundation for off-take and supply agreements.

    There is a strong tailwind in favour of US investment into clean energy, and 5E offers the additional advantage of the more environmentally friendly in-situ mining method.

    In conclusion, boron’s strategic importance in North America lies in its diverse applications across key industries. From enhancing aerospace capabilities to supporting nuclear energy, boron plays a foundational role in fostering technological advancement, economic growth, and national security. Maintaining a stable supply of boron and its derivatives is essential for sustaining these critical sectors and ensuring North America’s competitive edge in the global economy.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Bringing research into the community

    Bringing research into the community

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    NSCAD University details its innovative research programmes that work with the community, for the community.

    Art plays a significant role in our society. As an arts and design university, NSCAD University (also known as the Nova Scotia College of Art and Design) is uniquely positioned to adapt and meet the needs of the society it serves.

    What sets NSCAD apart is its deep connection to the community. Our approach is distinct within the cultural education sector in Canada as it reflects how nearly all our research involves partnerships with communities. NSCAD consistently redefines its relationship with the community, extending beyond the university to enhance accessibility and better address the needs of a diverse student body and community partners.

    Community engagement in our research is a critical way to solve larger societal and systemic problems.

    How we engage in social research at an art and design university depends on the artist, designer, or scholar conducting it. Research may be an act of creation work, it might be scholarly research, or, frequently, it is a combination of the two.

    Practice-led research provides a framework for faculty and students to engage in high-quality artistic creation supported by theory and practice. It allows for the development of new knowledge and effective application. The framework is always evolving in terms of how we can conceptualise it, how it applies to our work, what fits within it, and the type of thinking it allows.

    Research creation (a Canadian term that is interchangeable with practice-led research) conceptualises art-making as research with direct implications for the economy, societal wellbeing, and new teaching methodologies that allow for more diverse participation at the secondary and post-secondary levels.

    NSCAD’s participation in research creation and the importance of community involvement in the university’s research environment can be best explained through its innovative projects.

    The Flaxmobile project

    The Flaxmobile project is a three-year research initiative led by Professor Jennifer Green (Craft/Textile) that aims to support farmers and craftspeople across Mi’kma’ki, Nova Scotia. The Flaxmobile is a mobile education and processing facility focused on cultivating flax as an alternative to synthetic and fossil fuel-based fibres.

    Our primary goal is to develop a critical network of farmers, fibre mills, craftspeople, and consumers along a local textile supply chain to address the craft and material security gap in Nova Scotia.

    The project work is deeply rooted in culture and place, working hands-on in the field to cultivate, care for, harvest, and process flax into linen. We are engaging  15 farmers and 15 craftspeople paired together, granting craftspeople a better understanding of the origin and processing of the materials they use. Farmers are relearning how to grow flax, processors are discovering new ways to process it, and people across the supply chain are collaborating and adjusting to utilise these
    new materials.

    This involvement informs the revival of flax culture in the region and influences the materials and products being created by craftspeople in studio-based work.

    Through a practice-led methodology called transition design, the project aims to understand how a lack of local textile production has become systemically entrenched. One of the key principles of transition design is that societal problems manifest in specific ways depending on context and location.

    Our community engagement activities involved more than 80 people and provided valuable insight into how the issues surrounding the global fast fashion industry and the lack of local textile manufacturing are manifesting within the community.

    The project aims to suggest interventions that can help shift our current unsustainable textile production and consumption practices towards more sustainable ones by engaging with communities across the entire textile supply chain.

    The Community Mobile Media Lab

    The Community Mobile Media Lab (CMML) is a mobile media research lab led by Professor Solomon Nagler (Media Arts/Film) that provides infrastructure and supports research projects through partnerships with communities. Our primary research aims to reduce barriers for underrepresented communities that do not typically have access to conventional media arts and film production training and promote the sharing of culture, heritage, and identity.

    Despite numerous calls to diversify the industry, many reports lack practical advice and fail to address the real challenges people face. As such, we are going directly into communities with local partners to develop more professional and industry-specific training,
    creating opportunities for job placement and economic empowerment.

    community research
    © shutterstock/Viktor Gladkov

    Thanks to a substantial grant from Research Nova Scotia to run the lab and another grant from the Canadian Foundation for Innovation to purchase the highest-quality, industry-standard gear, we are able to equip students to transition more easily into the commercial industry.

    In Halifax, Nova Scotia, post-secondary training for certain industries is mainly located in the capital city, creating significant barriers for individuals from other communities who cannot easily travel to study. As a result, we are not only bringing equipment to these communities but also producing film and documentary work with them that we are then able to screen and assist in distributing to festivals around the globe.

    Impressively, important industry players have taken notice of our preliminary work and are providing additional funding for more projects.

    The training programme gained momentum quickly. In our first year, we mainly worked with organisations in Halifax that catered to the African Nova Scotian and Urban Indigenous populations. As our reach expanded, other communities outside of Halifax approached us with interest in the training we offered.

    The main focus going forward is to change the way filmmaking is taught at NSCAD. We are considering creating a certificate programme specifically for individuals from underrepresented communities to make the transition into the job market easier. This programme would be geared towards those who face financial barriers and may not have completed high school, providing culturally appropriate training and learning.

    Our long-term goal is to use this collaborative methodology in an international context, seeking ways to apply filmmaking as a tool for community healing. We are exploring how filmmaking can be utilised to bring communities together and promote storytelling as a means of connecting and finding common ground. This three-year hyperlocal project is really just the beginning.

    Planting the seeds of hope across Turtle Island: Connecting Mi’kmaq and Zapotec youth to Elders, language and culture through Indigenous food production and participatory visual methods

    This project, led by Dr Joshua Schwab-Cartas, (funded by SSHRC Insight Development Grant) focuses on restoring intergenerational relations between Indigenous youth and Elders through a series of workshops in Canada and Mexico based on storytelling using cellphilms (short videos purposefully made on cellphones/tablets) and art making (murals) in relation to traditional Indigenous food production. The project will connect Indigenous youth across both local and international regions to share ideas, develop support systems, and create practices of solidarity.

    It has four objectives:

    1. Connecting youth with elders
    2. Centring Indigenous ancestral practices, such as food production/preparation and Indigenous languages
    3. Encouraging knowledge exchange and solidarity across Turtle Island (North America)
    4. Using available resources to develop sustainable community-based action.

    Four research questions will guide the project:

    1. How can practice-based experiential learning support language acquisition, food security, and wellbeing among youth?
    2. How can digital technologies be incorporated into such a model that is founded upon ancestral modes of experiential learning?
    3. What does it mean to collaboratively explore what traditional food practices of Mi’kmaq and Zapotec youth and Elders can be incorporated into language revitalisation practices?
    4. How has Indigenous language attrition affected traditional food practices and intergenerational knowledge transfer?

    Four interconnected areas of theorisation will inform this project: Two-Eyed Seeing, Communalidad, Critical Food Guidance and Multiliteracies. Bringing together these theories, which are typically seen as separate, will be key to ensuring that the project is grounded in both Mi’kmaq and Zapotec epistemologies and traditional foodways.

    A participatory methodological framework will inform this study, as participants will have control over the research agenda, process, action, and ownership. In contrast, the latter will be informed by The First Nations principles of ownership, control, access, and possession – more commonly known as OCAP. In addition to following the principles in OCAP, this project will also use the four Rs of doing ethical research with Indigenous communities, which are respect, relevance, reciprocity and responsibility (Kirkness & Barnhardt, 1991).

    Participatory research unites inquiry with tangible action. Everyday citizens are key in identifying issues that affect their communities and what course of
    action needs to be pursued. Furthermore, since this project is grounded in both Comunalidad and Two Eyed-Seeing, which, like participatory action research, are found with the transformative paradigm (Kovach, 2009) that “includes principles of co-learning, experiential methods, shared knowledge practices, respectful relationships, and mutually beneficial results” (Gaudet, 2014, p. 73).

    The project will produce rich qualitative data documented through fieldnotes, recordings of team meetings and visual documents. All materials produced in the project (drawings, photos, videos) will be used as data to create learning resources and community archival material. This project will engage in collective research with our Elders, children and parents, which will document traditional practices – from cooking to sandal crafting and fishing – while exploring the ways language and traditional knowledge are passed on. Together with the community, I will work towards our main deliverables:

    • Create a series of cellphilms in both communities that document both language and ancestral food practices
    • Public screenings of the cellphilms created followed by a public talk and a Q&A
    • Write and publish a report (in collaboration with the communities) and scholarly article(s) that both assess the outcomes of the project and recommendations to foster future language learning among youth
    • A multilingual (L’nui’simk, Diidxazá, Spanish & English) recipe book that documents the recipes learned by youth in both communities, which will also include pictures, drawings and a multilingual language glossary.

    The Storying Transnational Knowledge Project

    Our main goal is to co-create storytelling platforms with young people, focusing on newcomers. By working with them to share their stories through conventional mediums such as picture books, podcasts, and oral histories, as well as through creative expression in areas like fashion and textiles, we aim to convey personal and collective narratives.

    The project originated from previously funded research that generated 35 unique picture books with children who had refugee experience in Halifax and Coventry, UK – known as a city of sanctuary with a history of welcoming refugees. However, this only scratched the surface in terms of exploring narrative creation and the various forms it can take as a means of expression.

    The current project, led by Dr April Mandrona, (funded by a SSHRC Partnership Development Grant) delves deeper into the relationship between art-making and storytelling with newcomer young people. There are two study sites in Canada, Halifax and Montreal, and two in Australia, Darwin and Adelaide. As an art education initiative, the focus is on developing skills and knowledge, maintaining relationships, networking, and community building.

    Multimodal storytelling is based on the everyday knowledge of ordinary people, considering the ways in which stories are told, held, and shared. Through discussion and art-making, we create an ethical framework for telling individual and collective stories to navigate the issues experienced in day-to-day life that are tied to larger social concerns such as stigma, poverty, and isolation.

    This approach can help address issues related to displacement experienced by newcomers, build connections with local communities, and improve attitudes toward non-natives in education and social services. With a federal mandate to accommodate more newcomers, we must consider the conditions into which newcomers are being welcomed. Historically, there has been a tendency to disregard the skills and knowledge they bring. It is essential to seriously consider how damaging this script can be, focus on building better relationships, and examine what it means to be a good host.

    The so-called refugee crisis has implications for Canada, particularly in Halifax as a port city, such as the impact on the public school system, which now has about 80 languages represented due to the influx of newcomers. Australia grapples with similar issues, and both countries have a difficult history of the colonisation of Indigenous peoples – to which our current relationship with newcomers and refugees is tied.

    The intention is not to carry out a comparative study but rather to examine opportunities for collaboration across research sites. The project will develop processes to share stories between these locations, whether through mobile apps, digital technologies, or other avenues that we may not have yet considered. Our goal is to build connections between groups, understand the nature of these connections, and explore how storytelling and art can facilitate and evolve these relationships.

    Fundamentally, we are all stories. The stories we tell ourselves internally shape who we are and interact with the stories we tell others. Exploring this creatively can help us understand each other better.

    Contributors:
    Jana Macalik
    April Mandrona
    Jennifer Green
    Carla Taunton
    Joshua Schwab-Cartas
    Solomon Nagler

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Critical mineral supply chains: What is the outlook?

    Critical mineral supply chains: What is the outlook?

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    Experts from price reporting agency Fastmarkets identify the greatest risks and the impacts to critical raw materials supply chains.

    Critical minerals play a pivotal role in shaping the modern world, particularly in the context of decarbonisation. These minerals, including rare earth elements like neodymium and dysprosium, as well as lithium, cobalt and nickel, are essential components in various high-tech and green technologies. Rare earth magnets are used in wind turbines, while lithium-ion batteries are used to power electric vehicles (EVs). Steel and base metals, such as aluminium and copper, have strategic importance because of their use in infrastructure.

    As demand for these raw materials is expected to soar, they have been deemed ‘critical’ by the U.S. Department of Energy. Here, we look at the risks of supply chain disruption to these raw materials, including political, regulatory and social factors as well as supply and production availability.

    What are the greatest risks to critical minerals supply chains?

    Supply shortages

    Copper is critical to the global energy transition. One major use of copper is in winding wire, used in electric motors, as well as in cabling, used to transmit electricity. Copper consumption growth will be underpinned by rising demand from energy-transition-linked sectors, such as wind power generation, solar arrays and, particularly, EVs and the associated charging infrastructure.

    At the same time, copper is also likely to face supply constraints, due to ore depletion at major mines and recent closures. As a result, the copper market is likely to face periods of tightness, requiring investment in new capacity.

    Nickel is another metal that is being increasingly used in energy transition applications, particularly in EV batteries. The picture here is different to copper: Indonesia’s emergence as a significant producer of mined, refined, and intermediate nickel products – backed by Chinese know-how, capital, and producers – has resulted in an oversupplied market. This has caused a fall in prices that has forced some producers to curtail capacity. As a result, supply is being increasingly concentrated within Indonesia and China.

    However, in the lithium market, there has been a huge increase in lithium production in China. China’s lithium carbonate equivalent (LCE) production from lepidolite increased by 126% year-on-year in April, with spodumene increasing 109%. Inventory accumulation suggests no shortage of supply, with time needed for demand to absorb surplus. In saying this, when developing our lithium long-term forecast, experience tells us that, even though we have allowed for delays and disruption, more issues are likely to affect the delivery of new material into the market, especially considering the current price environment.

    Geopolitical tensions and instability

    In recent years, geopolitical tensions have significantly impacted critical mineral supply chains. The war in Ukraine has led to scrutiny and regulation of Russian exports, impacting the availability of some critical materials sourced from the region. Additionally, global sanctions on Russia have created logistical challenges, further complicating the supply chain for raw materials including copper and aluminium. Russia’s war in Ukraine has also meant a boost in copper demand, due to the millions of copper-containing shells being used.

    Cobalt, a key component in EV batteries, sees around 70% of annual supply sourced from the Democratic Republic of the Congo (DRC). Cobalt is primarily a by-product found during copper and nickel mining. A rise in copper prices throughout 2024 has seen a knock-on effect on the cobalt market with a rapid increase in supply causing cobalt prices to fall. With China owning seven out of the ten largest cobalt mines in the DRC, both the US and EU have stepped up efforts to create a domestic supply chain and reduce reliance on China.

    The strained relationship between the US and China creates instability for commodity markets including graphite and rare earths. China’s dominance in graphite production – used for battery anodes and other industrial applications – means any trade restrictions or tariffs can lead to significant disruptions and increased costs for manufacturers. With 90% of global rare earth production also coming out of China, supply security is also a concern.

    Lack of investment

    In our recent lithium long-term forecast, Fastmarkets’ analysts spoke of how the current lithium price environment will see some projects struggle to access necessary funding to progress development. We’ve already seen the impact of low prices and a bearish outlook causing some closures and delays.

    Changing environmental regulations and policies

    The most significant policy to affect the lithium market in the near term is the US Inflation Reduction Act (IRA). The IRA has earmarked more than $80bn of funding for battery-related investments, including $7.5bn for EV tax credits and $30bn for manufacturing production credit for battery cells. We expect these investments to spur EV adoption and battery manufacturing over the short and longer term, posing an upside to lithium demand.

    In an interview last year with Andrea Hotter, Albemarle’s president, Eric Norris, said that the IRA had de-risked the battery supply chain, catalysed investment into the US and provided a key differentiator to Europe.

    “Several years ago, we were often being asked whether we would supply more lithium to the US, but at the time, there was little economic rationale to build a lithium plant here when all the demand was in Asia. What the IRA created was an incentive to build a supply chain here [in the US], generating local demand for lithium and derisking that problem,” Norris told Fastmarkets.

    In Europe, the EU’s Critical Raw Materials Act (CRMA) officially came into effect in May 2024. The policy aims to secure the single market’s critical raw material supply chains, including measures to streamline regulatory hurdles for new projects. The CRMA also proposes a framework by which member states coordinate the establishment of strategic stockpiles.

    A legal and regulatory analyst at the International Energy Agency (IEA) said: “There are still many parts of the law that need to be ironed out. This is something to watch out for, like the Commission needing to establish rules for environmental footprint of critical raw materials, which haven’t come out yet.

    “Besides the CRMA, what’s been really important to different industry groups is the EU Battery Passport.”

    Introduced as part of the new EU regulatory frameworks for eco-design and batteries, the digital product passport (DPP) supports the collection and sharing of product-related data among supply chain actors.

    In line with the European Green Deal’s circularity ambitions, the Batteries Regulation entered into force in August 2023.

    The analyst also pointed to import-export bans as significant regulatory risks in critical mineral supply chains. These have added strain, notably China’s restrictions on graphite, gallium and germanium from 2023 and Indonesia’s recent export ban on bauxite.

    According to European traders, they’re not yet seeing business affected by the CRMA. Fastmarkets has received stronger reactions to the EU’s Carbon Border Adjustment Mechanism (CBAM) –  a system that accounts for the carbon cost of producing imported goods to reduce greenhouse gas emissions in line with net zero goals. The mechanism aims to treat domestic and imported goods equally by applying a charge to carbon emissions – but mainly concerns carbon-intensive industries such as steel, iron, and aluminium.

    A trader commented: “CBAM affects the whole market. It’s a big headache for some companies [in terms of] how to report properly. It’s so expensive to comply with everything. It’s just a mess… so much legislation.”

    How do these risks impact the markets these commodities are traded in, and used for?

    Price volatility from resource scarcity and market unpredictability make it difficult to plan ahead

    Copper prices have reached record highs in recent months, while treatment and refining charges (TC/RCs) have plunged to their lowest levels on record. This leaves smelters facing serious challenges, particularly as copper concentrates are expected to remain in a deficit for the next few years.

    As well as the price volatility we’ve seen in the copper market, in a recent interview for Fast Forward podcast, Freeport-McMoRan’s Kathleen Quirk also noted the impact resource scarcity is having on M&A.

    Quirk said: “If companies could invest, make discoveries, go forward with project development, they would be doing that all over the place. It just shows the scarcity of copper and it’s leading people to say ‘if I do want exposure, I may have to buy it rather than build it’ because building is very long term and uncertain.”

    Lower prices create headwinds for new investment and exploration

    Oversupply in the lithium market has meant prices have fallen dramatically over the past 18 months.

    Prices for rare earths have fallen in recent months in line with continued weak demand from the downstream magnet sector. Fastmarkets’ weekly price assessment for the neodymium-praseodymium oxide 99% ratio (75:25), fob China price fell to $50-52 per kg on 11 July, from $54-56 per kg in late April.

    Neodymium-praseodymium is the largest rare earth component of neodymium iron boron (NdFeB) magnets and makes up around a third of a finished magnet.

    Prices also fell for Fastmarkets’ neodymium-praseodymium metal (Nd 75% Pr 25%), fob China to $62-64 per kg on 11 July, from $67-69 per kg in late April.

    Heavy rare earth elements markets, including dysprosium and terbium, have also fallen due to a lack of demand. Dysprosium and terbium are added in trace amounts to NdFeB magnets to improve performance at higher temperatures.

    Increased operational costs result in higher prices for the end consumer

    In Europe, in particular, EVs are expensive and this limits widespread adoption. Original equipment manufacturers (OEMs) need to offer more affordable models and may follow suit with Tesla by adopting LFP batteries. Our EV sales forecast for Europe shows that we expect LFP/LMFP to have a 34% market share by 2034.

    How can market participants build more resilient supply chains?

    Investment into critical mineral recycling

    It has been a challenging 12 months for battery recyclers, particularly for major Western entrants into the sector who faced financial issues. Despite these short-term challenges, the market looks set for strong growth in the longer term. Robust competition means the stronger companies will ultimately hold an advantage and survive the downturn.

    critical minerals
    © shutterstock/Phawat

    These advantages include things like:

    • Offtake agreements to secure feedstock
    • Competitive technology
    • The know-how to produce downstream products
    • Strategic partnerships
    • Access to financing

    Strengthen strategic partnerships to drive innovation

    At our recent Lithium Supply and Battery Raw Materials event in Las Vegas, Li-Cycle’s Tim Johnston said that recycling companies must “stay close” to customers such as OEMs and iron out technological issues to thrive. In our recent Battery Recycling Outlook, we go into more detail about how strategic partnerships are becoming increasingly important in the emerging recycling markets of Europe and the US.

    Because US and European value chains are made up of a larger number of smaller-sized companies, this makes strategic partnerships increasingly important. They can provide access to funding, access to a new region or market and access to a wider network of the value chain. Small-scale companies are looking to larger companies for investment and to leverage their networks, which helps prevent the smaller companies from being pushed out of the market. In terms of critical mineral recycling, some non-recycling companies are looking for where they should try to enter the recycling value chain and when is best to do so.

    Policy actions to provide financing to develop new supply sources

    One difference seen between the CRMA and the IRA is in access to funding to help projects and stimulate critical mineral supply chain growth and security.

    In the US, the Office for Manufacturing and Energy Supply Chains (MESC) which operates in the Department of Energy (DoE) aims to ‘eliminate vulnerabilities in US clean energy supply chains’. Together with the Bipartisan Infrastructure Law and the IRA, almost $500bn has been catalysed for investment into US energy, according to Ashley Zumwalt-Forbes, US Deputy Director for Batteries and Critical Materials (MESC).

    In the opening address at Fastmarkets’ 16th Lithium Supply and Battery Raw Materials conference in June, Zumwalt-Forbes said: “Our grants figure out how the US can be competitive and where the US can be competitive.”

    The CRMA legislation does not directly provide funding for strategic projects but instead looks to streamline projects by providing ‘efficient permitting and improved access to finance’, whilst advising that funding is available through existing mechanisms. Individual European member states are encouraged to provide public investment into domestic strategic projects to encourage supply chain growth.

    “The guidelines set out by the CRMA are quite strict with not too much time left to get things in place, it will be interesting to see how the supply chain adapts,” a market participant said.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Harnessing Australia’s critical minerals capacity

    Harnessing Australia’s critical minerals capacity

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    The Innovation Platform explores the major steps being taken to transform Australia’s critical minerals sector.

    Critical minerals are essential components to the clean energy transition and, as a result, many countries have turned their attentions to increasing their critical minerals supply. Australia is no exception to this, cementing its commitment with the release of its Critical Minerals Strategy 2023-2030.

    Australia is home to some of the largest recoverable critical minerals deposits on Earth, including high-quality cobalt, lithium, manganese, rare earth elements, tungsten, and vanadium. With Australia’s push to process more of these minerals, the country is developing new industries which in turn creates jobs and benefits for all Australians and strengthens global supply chains. These efforts all contribute to achieving Australia’s goal of reaching decarbonisation by 2050.

    To effectively grow its critical minerals sector, the Australian Government is focusing on:

    • Attracting international investments and building international partnerships;
    • Growing its critical minerals processing and manufacturing capabilities onshore;
    • Getting more value from the country’s natural resources and helping Australia become a renewable energy superpower; and
    • Creating Australian jobs and economic opportunities, including for the First Nations and regional communities.

    Australia’s critical minerals sector is well placed to seize the opportunities of the clean energy transition due to its rich geological reserves, expertise at extracting minerals, and its track record as a reliable producer and exporter of energy and resources.

    Australia’s Critical Minerals Strategy

    After extensive public consultation to understand the barriers and opportunities facing the Australian industry and community, the Australian government released the Critical Minerals Strategy in June 2023. The Strategy sets out key priorities across six focus areas which outline how the government will seize its critical minerals opportunity by working with communities, industry, investors, the research and innovation sector, states and territories, and international partners.

    The key focus areas are:

    • Developing strategically important projects;
    • Attracting investment and building international partnerships;
    • First Nations engagement and benefit sharing;
    • Promoting Australia as a world leader in environmental, social and governance (ESG) performance;
    • Unlocking investment in enabling infrastructure and services; and
    • Growing a skilled workforce.

    A spokesperson for the Department of Industry, Science and Resources told The Innovation Platform: “The Australian Government’s Critical Minerals Strategy 2023-2030 is a whole government plan that provides the policy framework for Australian Government critical minerals policy. It sets a vision and pathway for Australia to grow our critical minerals sector; create jobs and downstream industries; strengthen and diversify global supply chains; and help Australia to become a renewable energy superpower and contribute to global efforts to achieve net zero.”

    Financing for critical minerals projects

    As part of its drive for growth in the critical minerals sector, the Australian government has implemented a range of financial initiatives to support exploration and development companies in the country. In 2021, the government established the Critical Minerals Facility to provide financing to projects that are aligned with the Critical Minerals Strategy. The Facility has been funded with A$2bn to help projects suffering from gaps in private finance to overcome these gaps and get off the ground. In October 2023, Australia announced a A$2bn expansion in critical minerals financing as part of its effort to move toward clean energy and boost exports, doubling the capacity of the Facility to finance mining and processing projects for materials vital to high-end manufacturing and industry.

    Expansion of the critical minerals list

    The Australian critical minerals sector has already seen significant progress since the launch of the Strategy. This includes the expansion of the critical minerals list to include nickel, opening up billions of dollars in Commonwealth funding to nickel companies. Companies will have access to financing under the $4bn Critical Minerals Facility and critical-minerals-related grant programs such as the International Partnerships in Critical Minerals Program.

    Federal Resources Minister Madeleine King, who made the decision to place nickel on the list, said: “The international nickel price is forecast to stay relatively low through 2024, and likely for several years to come until the surplus of nickel in the market is corrected. In the meantime, this puts further Australian nickel operations at risk. Given impacts to our domestic capacity and noting the broader market developments presently unfolding in the nickel sector, I am fully convinced that we must be proactive in addressing the recent developments, including by adding nickel to the Critical Minerals List.”

    Future Made in Australia

    Australia has also placed significant focus on attracting investment to the country by creating new jobs and opportunities. Earlier this year, the country announced the Future Made in Australia plan to maximise the economic and industrial benefits of the international move to net zero and secure Australia’s place in a changing global economic and strategic landscape. As part of the 2024-2025 Budget, A$22.7bn will be invested in the plan over a decade to help Australia succeed and remain an indispensable part of the global economy as the world transitions towards net zero.

    The Future Made in Australia plan is about attracting and enabling investment, making Australia a renewable energy superpower, value-adding to its resources and strengthening economic security, backing Australian ideas and investing in the people, communities and services that will drive national success.

    The Future Made in Australia agenda will ensure Australia can secure much needed investment in critical minerals projects, current and future jobs and opportunities, and make Australia a renewable energy superpower. A significant move in terms of critical minerals is the plan’s proposed implementation of a Critical Minerals Production Tax Incentive (CMPTI). The CMPTI puts forward a short-term and uncapped production tax offset to support investment in critical minerals processing valued at AU$7bn over ten years. The incentive will allow eligible entities to claim 10% of eligible expenditure for processing and refining of any of the 31 Critical Minerals listed on the Department of Industry, Science and Resources’ (DISR) website.

    In addition, the plan has allocated A$10.2m to work with states and territories to develop pre-feasibility studies of common-use infrastructure, which promotes a competitive and productive critical minerals sector. It has also committed A$14.3m to work with trade partners to strengthen Australia’s global competitiveness and support benchmarks for trade in high-quality critical minerals.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Safe and efficient transportation of liquid hydrogen

    Safe and efficient transportation of liquid hydrogen

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    An overview of the ongoing EU-funded Project ‘LH2CRAFT’, dealing with the safe and efficient marine transportation of liquid hydrogen in large quantities.

    Transport is a cornerstone of both the European Union’s internal cohesion and its global trade, driving economic growth, employment, and social equality. Yet, as the world’s reliance on transportation has deepened, the same has applied to its environmental impact.

    Global transport challenges and opportunities

    The carbon footprint of transport activities has surged to concerning levels. According to the European Investment Bank’s Transport Lending Policy 2022: “The negative climate, environmental, safety and congestion externalities of transport as well as its unequal availability to users have reached unacceptable levels.”

    In response, the European Green Deal Strategy has set a bold target of a 90% reduction in transport emissions, compared to 1990 levels, by 2050, achieved through the adoption of more sustainable, affordable, accessible, healthier, and cleaner alternatives.

    Exacerbating this challenge is the global energy crisis that began long before Russia invaded Ukraine. The conflict has only intensified Europe’s energy woes, with the continent facing the looming winter with dwindling energy reserves and little hope of replenishment. The pandemic temporarily masked these energy security issues, as reduced industrial activity led to lower energy demand. With economic recovery underway, the energy security is becoming increasingly apparent, creating what some describe as a perfect storm.

    However, amidst these challenges lies a significant opportunity. Decarbonisation policies are gaining traction, with both industry and governments recognising the potential for transformative change. Leading companies like Maersk have committed to carbon-neutral operations by 2050, while MSC and France’s CMA CGM are investing heavily in carbon-neutral shipping technologies.

    At the heart of these efforts is liquid hydrogen (H2), a fuel with the highest energy per mass of any fuel. Yet, its low ambient temperature density poses a challenge. It requires advanced storage and transportation solutions to enable its use over long distances – as the liquid hydrogen must be transported from production sites to regions with high demand.

    In this context, the LH2CRAFT project is pioneering a new generation of sustainable, commercially attractive, and safe technologies for the long-term storage and long-distance transportation of liquid hydrogen (LH2) on ships. The project aims to develop innovative storage solutions that can operate at temperatures as low as 20 K (-253oC), with a 180m³ containment system serving as the project’s demonstration model.

    By advancing these technologies, LH2CRAFT not only addresses societal energy needs but also strengthens the EU’s leadership in global maritime innovation. The project is expected to significantly impact Europe’s innovation-driven industry, creating highly skilled jobs, delivering efficient technological solutions, and setting international regulatory standards.

    LH2CRAFT project outline and objectives

    LH2CRAFT is an ongoing Research & Innovation project, being mainly funded by the Clean Hydrogen Joint Undertaking of the EU while also receiving grants from the UK Research & Innovation (UKRI) for the UK-based partners as well as contributions from the private sector. The project was the only proposal that was awarded by the EU within the Call for Proposals (HORIZON-JTI-CLEANH2-2022-02-06: ‘Development of large scale LH2 containment for shipping.’

    transportation of liquid hydrogen

    The project is coordinated by the Greek-based company HYDRUS ENGINEERING SA, a global engineering organisation offering comprehensive and integrated solutions across the maritime, energy and defence sectors.

    The main objectives of the project are summarised as follows:

    • Ensuring the safe, cost-effective, and energy-efficient storage and transportation of large quantities of liquid hydrogen (LH₂) over long distances.
    • Developing a Cargo Containment System (CCS) for LH₂ shipping that surpasses the size limitations of current technological developments in the waterborne sector.
    • Designing a modular and scalable LH₂ storage system with dimensions comparable to those of existing liquefied natural gas (LNG) carriers.
    • Securing Approval in Principle (AiP) and General Approval (GA) for the CCS, as well as AiP for the auxiliary systems, from ABS IACS Classification Society (partner of the consortium).
    • Demonstrating the viability of the CCS through the detailed design, construction, and validation of a reduced-size prototype with a capacity of 180m³.
    • Developing a safe and innovative conceptual integrated ship design, along with a comprehensive cost estimation.
    • Strengthening the European Union’s position as a global maritime leader by fostering the creation of highly skilled jobs, advancing efficient technological solutions, and setting international regulatory standards, thereby contributing to industry and society.

    The aforementioned objectives are complemented by an extended and detailed series of testing activities throughout the project, ranging from material characterisation under cryogenic conditions, subsystem performance validation and small-scale system specimens performance verification.

    LH2CRAFT in numbers

    The LH2CRAFT project, initiated in June 2023, is a 48-month endeavour. It is a joint effort of 14 partners from nine countries, comprising a consortium of engineering consultants, academic institutions and research organisations, IACS classification societies, and industrial partners.

    More specifically, the following partners’ categories are cooperating in a harmonised way to successfully implement the project and achieve its main goals:

    • Major Classification Societies / IACS Members: ABS (American Bureau of Shipping – Greece), RINA (Registro Italiano Navale – Italy) & BV (Bureau Veritas – France)
    • Technical Universities: TUD (Technische Universiteit Dresden – Germany), NTUA (National Technical University of Athens – Greece), UOS (University of Strathclyde – UK), UPAT (University of Patras – Greece)
    • Industry Partners: HYD (Hydrus Engineering SA – Greece), HD KSOE (HD Korea Shipbuilding & Offshore Engineering – Republic of Korea), GBD (Gabadi – Spain), ACT (Actemium – France),
    • Research Organisations & Network Associations: TWI (The Welding Institute – UK), WEGEMT (European Association of Universities in Marine Technology and Related Sciences – the Netherlands), EASN (European Aeronautics Science Network – Belgium).

    LH2CRAFT Project partners

    The overall budget of the project is approximately €7.7m, with the majority being supplied by the Clean Hydrogen JU (€5.6m). The remaining funding derives from the UKRI (€800,000) and self-funding by HD KSOE, one of the largest shipyards in the world from the Republic of Korea, acting as the partner responsible for the CCS design.

    Disclaimer

    UK participation in the LH2CRAFT Project is funded by UK Research & Innovation (UKRI) under the UK Government’s Horizon Europe guarantee (grant numbers 10070575 & 10082044). HE Project Number: 101111972

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Advancing Canada’s lithium industry with continuous DLE technology

    Advancing Canada’s lithium industry with continuous DLE technology

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    Kevin Piepgrass, Chief Operating Officer at LithiumBank Resources, explores the company’s lithium projects in Western Canada and discusses its recent adoption of continuous DLE technology.

    Lithiumbank resources corp. (TSX-V: LBNK) (OTCQX: LBNKF) is a publicly traded lithium brine company focused on developing and de-risking its two flagship projects, Boardwalk and Park Place, in Western Canada. Together, these assets are estimated to have the largest subsurface lithium brine resources in North America. The company is currently conducting large-scale pilot testing of a licensed Direct Lithium Extraction (DLE) technology at its facility in Calgary.

    In January 2024, the company released an updated Preliminary Economic Assessment (PEA) for its Boardwalk project, based on a proposed 34,005 tonnes per annum production of battery-grade lithium hydroxide monohydrate (LHM). The significant difference from the initial PEA released in May 2023 was the incorporation of newly licensed continuous Direct Lithium Extraction (DLE) technology from G2L Greenview Resources Inc. (G2L). The G2L technology has numerous advantages over the DLE process applied in the original PEA, including reducing the operating cost by 34% and increasing the lithium recovery to 98%.

    LithiumBank’s Park Place project consists of 1,404,558 acres of contiguous brine-hosted mineral licenses and is situated approximately 50km south of the company’s Boardwalk lithium brine project.

    In June 2024, LithiumBank announced an initial National Instrument 43-101 – Standards of Disclosure for Mineral Projects lithium-brine inferred mineral resource estimate of 21,697,000 tonnes LCE between two formations contained within the license boundaries with a combined average grade of 80.2 mg/L lithium. The total estimate is the combination of 10,076,000 tonnes of inferred lithium carbonate equivalent (LCE) at a grade of 79.4mg per litre of lithium within the Leduc Formation aquifer and 11,620,000 tonnes of inferred LCE at 80.9mg per litre of lithium within the Swan Hills Formation aquifer underlying Park Place.

    Editor Maddie Hall spoke to Chief Operating Officer Kevin Piepgrass to learn more about the projects and the company’s future plans.

    What are the key aspects of LithiumBank’s two flagship projects?

    LithiumBank’s two flagship projects, Park Place and Boardwalk, are based in Alberta, Canada, which we see as having significant advantages when it comes to developing large-scale resource projects.

    The established infrastructure in Alberta, originally built for oil production, is a valuable asset for our projects, with well pads, paved roads, water and gas facilities already in place. Additionally, the Alberta government has been very supportive of the emerging lithium industry. It has allowed for a streamlined permitting process like that for oil and gas projects due to the similarity of our extraction process and project footprint. This makes the permitting process much quicker compared to open-pit lithium mining.

    LithiumBank’s flagship projects are of a globally significant scale and together rank as the largest known lithium brine resources in North America. They are 100% owned by the company and held on 100% crown mineral licenses. The projects do not overlap with any significant carbon sequestration projects and would not interfere with the important and emerging carbon sequestration industry. These aspects become increasingly important when entering the development stages of a project as it presents fewer challenges.

    The Boardwalk and Park Place present a rare opportunity in the mineral resource industry where an exceptionally large resource can potentially be put into production while maintaining lower water usage, lower CO2 emissions, and a smaller surface footprint than any traditional lithium extraction method used in the world today. LithiumBank has put considerable effort toward keeping water usage and CO2 emissions to a minimum.

    The geology of the projects is the star of the show.

    The Devonian-aged carbonate formations are up to 500m thick in places with excellent permeability and porosity and are considered confined aquifers. A confined aquifer means the brine is trapped and is not mixing with other brine/water from other formations, keeping the overall brine chemistry relatively unchanged over the resource area. This brine consistency and large scale are what allow the project to be such a viable candidate for our direct lithium extraction.

    LithiumBank recently announced the Park Place NI 43-101 resource estimate as the largest in North America. Can you please tell us the significance of this resource?

    In July, we announced the discovery of a substantial lithium resource totalling 21.7 million tonnes of lithium carbonate equivalent, with an average grade of 80.2 mg per litre. This marks the largest reported inferred lithium resource in North America and the highest-grade lithium resource in Alberta.

    The significance of this discovery lies not only in its size but also in its potential for long-term development and production of lithium. Because of its size, ideal location, and favourable geology, it provides multiple options for where to begin, how to progress, and how to scale up.

    We collaborated with Schlumberger (SLB), renowned global subsurface experts and the world’s largest oil and gas service and technology provider, to model the subsurface reservoir. We combined two formations – the Swan Hills and the Leduc- both from the Devonian age and carbonate buildups. Together, they offer over 350m of porous and permeable reservoir rock with consistent brine chemistry and lithium grades over the sampled area of the resource.

    Mineral processing in any industry is challenging, so anytime you can have a consistent feed brine of a significant amount over a long period of time, in the case of the Boardwalk PEA, 20 years, you make the mineral extraction that much easier.

    You announced an updated PEA for the Boardwalk Project earlier this year. What are the most exciting findings from this report?

    The test results from the G2L DLE technology are what triggered the company to do an updated PEA. While keeping the front end, like the wells and pipelines to the proposed plant, the same, the improvements to the DLE technology significantly enhanced the economics of the Boardwalk project.

    Of note was the operational expenditures (OpEx) being reduced by approximately 34% to $4,588 per tonne of lithium hydroxide (LHM). This reduction was largely due to the use of lower-cost reagents used in the DLE process and the overall process itself being more efficient and using fewer reagents and ion exchange media. Not to mention the ability to recovery a large percentage of the reagents in the downstream process.

    The recovery of lithium was also improved by 8.5% by using the G2L DLE technology, bringing the overall recovery to 98%. This enhanced recovery makes a significant impact on the economy as it brings an additional 8.5% LHM to market.

    These improvements had a positive effect on the net present value (NPV), which increased to $3.7bn pre-tax, and the earnings before interest, taxes, depreciation, and amortisation (EBITDA), which reached $750 million.

    Can you elaborate on G2L technology and its advantages over alternate Direct Lithium Extraction processes?

    Beyond just the test work results from G2L, a big part of LithiumBank acquiring the exclusive license (in Alberta and Saskatchewan) to this DLE technology was because this technology is currently being used at a commercial scale for other metals. The G2L system utilises continuous cross-current ion exchange, which offers key benefits in recovery rate and enhanced impurity rejection in the initial stages. It has proven to be successful on a commercial scale.

    Test results showed we were able to achieve a high brine concentration of over 3,200 mg per litre of lithium and recovered 98% of the lithium from the DLE. This is an increase in grade of approximately 46 times, resulting in a reduction of approximately 46 times the volume of eluate to further process downstream. We have found that ion exchange, in general, will yield higher recovery and a higher-grade eluate for brines, but using the G2L process of continuous DLE (cDLE) increases the efficiency that much more.

    The company recently sold its Estevan Saskatchewan Project. Can you elaborate on this decision?

    Our mission at LithiumBank is straightforward: We acquire high-quality, large-scale assets, consolidate, develop, and derisk them, and then transfer them to developers. We believe that development companies possess the strongest skillset to elevate these projects to the next level, given their experience and access to capital.

    How has effective management influenced previous achievements and increased shareholder value creation?

    Our entire management team and board of directors are actively involved in the company. With a significant 40% ownership by insiders, friends and family, there is a personal vested interest in its success. Our Executive Chairman, Paul Matysek, boasts hands-on experience, leading the development of assets from exploration to production stages and successfully selling them to major entities.

    Even more impressively, each project he has sold is either in construction or production. As a team, we recognise the value of these de-risked assets and believe in our ability to follow this successful business model to place them in the hands of developers who can expedite their development.

    As LithiumBank’s Alberta projects advance into the next stages of development, what can we hope to expect from the rest of 2024?

    LithiumBank is currently very active, having recently opened our 10,000-litre-per-day DLE pilot plant for use over the next 12-18 months. The pilot plant is a result of the G2L engineering team and their over 30 years of experience in ion exchange. The pilot plant was designed and constructed over a ten-year period and is now operational in our facility in Calgary. Bulk brine samples have been obtained from Park Place and Boardwalk to keep the plant running.

    The company has recently completed drilling the entire Leduc formation at Boardwalk and will be gathering additional information on subsurface data in an effort to increase our confidence in our mineral resource. Simultaneously, we will continue to progress the Park Place asset, gathering additional information, piloting, attempting to acquire additional wells, and collaborating with SLB and Hatch on both projects to bring them up to the level where developing companies can understand and derive value from them.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Co-creating a better world for all

    Co-creating a better world for all

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    Dr Eric Li explains how the UBC Social Innovation Hub is helping to build a better future with agile, sustainable, and multifaceted community-university partnerships.

    The COVID-19 pandemic has profoundly impacted various facets of life in Canada and globally, affecting individual relationships, institutional operations, and international supply chains and collaborations. It has exposed the interconnectedness and vulnerability of complex systems. In response to the challenges of the post-pandemic world, social innovation, social entrepreneurship, social enterprise, social financing, and social business are increasingly recognised as innovative solutions and mechanisms.

    The UBC Social Innovation Hub emphasises the multi-stakeholder model, aiming to design and nurture high-impact social innovations, social enterprises, and social businesses. It is also committed to educating the next generation of social innovators and entrepreneurs while fostering long-term collaborations with key partners and communities both locally and globally.

    The work of the Social Innovation Hub

    The Social Innovation Hub focuses on three main pillars:

    Social Innovation Research Network

    The Hub facilitates a diverse range of research projects and partnerships and establish an international social innovation research network to connect Canadian scholars with global collaborators and partners.

    Social Innovation Learning

    The Hub co-ordinates courses, work-integrated learning (WIL) programmes, and other experiential learning activities to engage educators, learners, and community partners at all levels, promoting a deeper understanding of social innovation.

    Social Innovation Incubator

    The Hub collaborates with key partners to develop a ‘humanitarian-centric’ social innovation incubator. This new programme also supports the development of social businesses, social enterprises, Indigenous social ventures, and other socially-driven enterprises.

    Bridging the community-academia gap

    Community-university engagement is at the core of the Hub’s approach to innovation. By fostering engagement between academia and the broader community, the Hub aims to enhance collaboration, co-creation, knowledge sharing, and expertise.

    Another guiding principle for the Hub’s innovation strategy is inclusivity. By involving stakeholders from multiple sectors and disciplines, the Hub ensures a collaborative, inclusive, sustainable, and participatory approach to solving today’s complex problems. The socio-economic dynamics of current challenges are intricate, necessitating collaboration among the public sector, private sector, academia, industry leaders, community leaders, ecosystem enablers, innovators, and entrepreneurs. The Hub serves as a key integrator, connecting relevant stakeholders across various sectors and disciplines.

    Current themes of the Hub’s work include:

    Health and wellness

    The Social Innovation Hub is dedicated to advancing social innovation research to address diverse health challenges and concerns both within and beyond Canada.

    Food system and food security

    The Hub works with local, regional, national, and international partners to co-develop innovative social ventures that support food production, redistribution, and consumption in local and global food systems.

    Sustainable production and consumption

    In alignment with Sustainable Development Goal (SDG) 12 ‘Responsible Consumption and Production’, the Hub aims to reduce carbon footprints by promoting eco-friendly production systems and responsible consumption, thereby building climate resilience.

    Climate resilience

    The Hub collaborates with partners, educators, and learners to co-develop an ecosystem that supports ‘planet-first’ social innovation.

    Affordable housing

    The Hub is committed to addressing the issue of homelessness by working on affordable housing projects, contributing to the development of sustainable cities and communities and reducing inequality within communities.

    These themes provide direction for team building. Developing a sustainable and resilient platform to support social innovation and the establishment of social ventures is crucial. The Hub also creates an integrated impact measurement mechanism to capture social impact and outcomes.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • Strengthening the EU’s critical and strategic raw materials supply

    Strengthening the EU’s critical and strategic raw materials supply

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    The European Bank for Reconstruction and Development (EBRD) has recently launched a joint facility with the EU for critical and strategic raw materials. The Innovation Platform spoke to EBRD’s Tetiana Dzhumurat to find out more.

    Critical and strategic raw materials are key components needed for the European Union’s (EU) digital and green transition. In a bid to minimise supply chain disruptions and increase Europe’s supply of these materials, the EU has introduced a series of strategies and policies in recent years. These include the Critical Raw Materials Act, which aims to strengthen the EU’s critical raw materials capacities along all stages of the value chain and to increase Europe’s resilience by reducing dependencies. In addition, following Russia’s invasion of Ukraine, the EU launched the REPowerEU Plan to phase out Russian fossil fuel imports.

    Supporting the objectives of both the Critical Raw Materials Act and the REPowerEU plan, the EU and the European Bank for Reconstruction and Development (EBRD) have partnered to launch a joint facility for critical raw materials (CRMs) as part of the InvestEU programme. The facility will provide equity investments for the exploration of critical and strategic raw materials, aiming to mobilise up to €100m in investments. The new joint facility will support the objectives of the EU’s Critical Raw Materials Act and the REPowerEU Plan.

    The EBRD is investing €25m in the facility and this will be matched by the EU’s contribution from the Horizon Europe Programme. The facility aims to mobilise a further €50m.

    The facility will build on the EBRD’s extensive experience in financing mining projects, facilitating early-stage equity investments in operations in EU Member States where the Bank operates, as well as EBRD economies outside the EU that are covered by the Horizon Europe programme. Through this facility, the EBRD expects to invest in 5-10 junior mining companies (small and medium-sized enterprises, medium-sized enterprises or small mid-caps) that undertake critical raw material exploration in eligible countries.

    The exploration activities funded under the facility will have to adhere to strict climate, governance, environmental and social standards. The EBRD’s rigorous Paris Agreement Alignment and Environmental and Social Policy screening will be applied to all projects.

    To find out more about the facility and how it fits with the EBRD’s own values and mission, The Innovation Platform spoke to Tetiana Dzhumurat, Principal Banker, Natural Resources, at EBRD.

    Can you elaborate on what the facility will do?

    The €50m facility will provide equity and quasi-equity financing to early-stage mining companies pursuing exploration (post-resource discovery) of critical and strategic raw materials to enable them to progress various studies and works required to reach feasibility and construction stage. This facility is part of a broader Junior Mining Programme recently approved by EBRD’s Board.

    Why is it important for the EBRD to support early-stage mining companies and projects?

    These companies are under-serviced by the limited depth of equity capital markets and private equity. This is particularly true in the region where this facility will be deployed.

    How does this investment fit with the EBRD’s mining sector strategy?

    This facility is fully aligned with the EBRD’s mining sector strategy. In particular, one of the four key priorities of the strategy is “to selectively support the exploration and production of metals and minerals required for the green energy transition and digitalisation.”

    How will you ensure that the exploration activities supported by the facility meet high climate, governance, environmental and social impact standards?

    EBRD’s Mining Sector Strategy stipulates that the EBRD will review mining sector projects on an individual basis and check them against a robust set of requirements, including the Bank’s Environmental and Social Policy (ESP) and Performance Requirements. All projects will be subject to rigorous environmental and social due diligence and monitoring. As specified in the ESP, projects will be required to apply good international practice, such as the Global Industry Standard on Tailings Management.

    In line with EBRD’s commitments, all projects it supports will be aligned with the objectives of the Paris Agreement and the Green Economy Transition Approach. Compliance with the Bank’s Environmental and Social Policy (ESP) and Performance Requirements will be contractually agreed with the companies implementing the projects and subject to monitoring by the Bank’s Environmental & Social specialists and consultants where necessary.

    About the EBRD

    The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies, including some EU countries. The Bank is owned by 73 countries as well as the EU and the EIB. The EBRD’s mandate focuses on fostering the transition towards open market-oriented economies, and its investments are aimed at making the economies in its countries of operation competitive, inclusive, well-governed, green, resilient, and integrated.

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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  • CRIM as a leader in applied and concrete artificial intelligence

    CRIM as a leader in applied and concrete artificial intelligence

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    As AI continues to develop in great strides, CRIM is there to regulate it and is developing methods to ensure AI remains safe and productive.

    CRIM is an applied research centre founded in 1985 by a group of companies and universities who wanted a neutral organisation to accelerate the transfer of new technologies to the marketplace. A not-for-profit organisation, CRIM has played a major role over the past 35 years in achieving many of the milestones that have marked the development of Quebec’s technology sector, particularly in the field of artificial intelligence. CRIM’s main raison d’être is to develop cutting-edge technologies and transfer them to companies, turning them into commercial successes and contributing to the creation of high-tech jobs.

    Since its inception, CRIM has been at the heart of the global transformation of industry by AI. The promises of AI are numerous, but it is difficult to evaluate and operationalise, includes a large share of unknowns and risks, and is difficult to implement. The methodologies around new methods are not yet established, and expertise and experience in these areas are scarce.

    As a bridge between scientific and academic progress and the industry, CRIM presents a critical mass of AI experts, research scientists, data scientists, software developers, and architects, providing a multidisciplinary expertise to process all types of data: audio, speech, images, video, text, sensor signals, geospatial data, time series, and tabular data. CRIM is also a leader in the development and adaptation of generative AI, in all these modalities, for the creation of reliable solutions in all ranges of problems and fields.

    A catalyst for innovation, CRIM has a long track record of delivering concrete solutions using the latest technologies in AI, dedicated first to the needs of the industry and institutions. It offers its customers and partners an advanced know-how in experimental AI development, with a view to delivering concrete solutions. This includes a vast set of methodologies consolidated over hundreds of AI projects, including data-centric approaches, metric development, building evaluation benches, developing and fine-tuning machine learning models in several modalities, MLOps, DevOPs and DataOps, generative methods, trusted AI, etc. CRIM stands out in particular for its ability to apply recent scientific advances in highly constrained application contexts.

    Trustworthy AI: Towards a reliable and responsible AI

    The world of artificial intelligence is exploding, propelled by the development of deep learning and generative AI, offering possibilities never seen before. Despite this, few AI projects find their way into actual products. The gap between the promises of AI and the practice remains immense. The issues are numerous: the solutions present significant biases, they are opaque and difficult to interpret or explain, they lack consistency and robustness, they are vulnerable to various forms of attack, and generative models are plagued by hallucinations. In general, they are difficult to constrain to standards or specifications. The measurement of the models’ confidence is also a challenge. All these factors constitute a major obstacle to the responsible use of these methods. In critical application domains, such as healthcare, transport, finance, etc., they would simply be unacceptable if used as such, as they would represent a threat to security.

    In this context, especially for applications in critical or regulated domains, these approaches need to be framed by a set of methodologies, which we call Trustworthy AI, to deal concretely with all these issues: bias, uncertainty, robustness, compliance, explainability and so on.

    As a leader in applied AI for industry, CRIM is investing heavily in the development of trust-based AI. Its integration into the realisation approach is carried out at all levels, in a ‘trust by design’ manner: from the design of the projects themselves, then in all stages of realisation, in the choice of methods and models, in the processing and governance of data, and in the test benches. Everything is guided by CRIM’s goal to systematically develop and transfer Trustworthy AI, in order to increase the real impact of reliable and responsible AI solutions.

    Trustworthy AI

    Trustworthy AI is a field yet to be built. CRIM is working with industry, in particular through consortia dedicated to this issue, to understand the challenges and use cases, in order to develop and propose solutions.

    Combating visual and multimodal misinformation

    CRIM aims to get involved in the major issues facing society which could benefit from AI, by contributing with its multidisciplinary technological know-how and mastery of AI development.

    Today, misinformation and disinformation constitute a growing threat to society, institutions and individuals alike. The threat is exacerbated by social media, which accelerates the spread of misinformation, and also by the recent rise of generative AI, which enables documents to be produced or modified in a highly realistic way, in all types of media: images, text, audio and video. Technologies are evolving at a breathtaking pace, and at the same time a host of accessible, easy-to-use tools are falling into the hands of the general public. The malicious use of these technologies is likely to have a major impact in all areas and fields of society: in elections and democratic processes, in public health, security, defence, the economy, and so on. These issues are still poorly understood, the mechanisms of disinformation are poorly mastered, and above all, the methods for detecting it are not very advanced, and lag far behind the tools and methods for producing it.

    CRIM has joined forces with the University of Ottawa’s Information Integrity Lab to study this issue from a number of social, legal and technological angles. The aim of this collaboration is firstly to consolidate and disseminate knowledge on the issue, and secondly to develop methods and tools to help individuals and institutions detect misinformation. The monitoring work has resulted in a substantial report, the main points of which are currently being disseminated.

    CRIM already has extensive experience in related topics: Deep fakes detection, voice and multimodal biometrics, user recognition in audio, etc. Several interdisciplinary projects are underway to apply this expertise to the detection of disinformation. CRIM is actively seeking partnerships to extend the scope of this major project.

    Climate data

    Climate change and its impact are a major concern for scientists in many fields. CRIM is contributing to this critical issue by leveraging its expertise in geomatics, Earth observation and satellite imagery processing, as well as its know-how in AI and data architecture. On the one hand, CRIM has realised numerous projects and research activities on these subjects (including a first-place finish in a recent competition on sub-seasonal climate prediction), but it has mainly invested in them through its work on climate data platforms and standards.

    CRIM has played an active role in a number of Open Geospatial Consortium (OGC) initiatives, and has made several contributions to extensions to the SpatioTemporal Asset Catalog (STAC) used to record geospatial metadata. Through its contributions, CRIM has strategically positioned itself within the steering committees of these projects, developing standards, specifications and reference implementations, enabling the communication and traceability of data sources used in open science efforts on climate.

    This opportunity has enabled CRIM to position itself as a Canadian and international leader in climate informatics and geospatial platforms. These projects have led to concrete benefits not only for the scientific community (Marble project developed in collaboration with Ouranos and the University of Toronto), but also for the general public via the ClimateData.ca portal. This portal, developed and maintained by CRIM in the context of a network of scientific and technological partners built by the Canadian Climate Services Centre (CCC), aims to offer quality climate information, and enables all users to visualise, understand and analyse the data available and produced by the very latest scientific advances. This tool is invaluable to scientists and decision-makers alike, helping them to better understand climate risks and their impact.

    “Françoys Labonté, CEO of CRIM said: During its nearly 40 years of existence, CRIM has contributed its state-of-the-art expertise to numerous projects involving international collaborations with European partners. We are thrilled by Canada’s recent agreement to participate in Horizon Europe as an associate country under Pillar 2. This exciting development paves the way for a wealth of new collaborative opportunities, and CRIM is eager to explore and engage in these promising ventures”

    Françoys Labonté

    Please note, this article will also appear in the 19th edition of our quarterly publication.

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