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LithiumBank Secures Federal Grant for Brine-Driven Carbon Capture Project

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has secured funding from Next Generation Manufacturing Canada (NGen) to acquire and supply brine from its Boardwalk lithium project for use in carbon sequestration cement products. This is part of a $2.76 million commitment by NGen to several companies, aiming to revolutionize the construction industry with sustainable solutions.

LithiumBank’s Innovative Approach

LithiumBank will collaborate with consortium leader ZS2 Technologies Ltd., along with Progressive Planet, Occam’s Technologies Inc., and Falkbuilt Ltd., to develop an advanced manufacturing solution. This solution focuses on affordable, climate-adaptive, and energy-efficient housing by capturing carbon into magnesium cement board and utilizing waste streams.

ZS2 Technologies will apply its CO2 Direct-Air-Capture technology at the Boardwalk project to capture CO2 emissions. Additionally, treated brine will be processed to extract magnesium and calcium for magnesium cement products.

The federal rebate covers up to $185,000 of drilling and sampling costs, marking the first federal funding LithiumBank has received. The company aims to start drilling at Boardwalk by May 2024.

Government Support for Sustainable Housing

The Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry, praised the project for its potential to create sustainable building materials. He emphasized the government’s commitment to making housing more affordable for Canadians.

Rob Shewchuk, CEO of LithiumBank, expressed gratitude towards NGen and the Minister for their support and looks forward to creating building products that reduce carbon emissions and support lithium production.

About NGen

NGen leads Canada’s Global Innovation Cluster for Advanced Manufacturing. It is a non-profit organization dedicated to enriching Canadian lives through digital transformation in advanced manufacturing.

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