Solarbio Energy, a leading developer of lithium resources, today announced that it has received US$10 million in research funding from the Chilean Independent Energy Funding Commission (CHIEFC). The funding will be used to support the development of new lithium extraction technologies that will be more efficient and cost-effective than traditional methods.
“We are grateful for the Energy Funding Commission’s support of our work to develop new lithium extraction technologies,” said the CEO of Solarbio Energy. “This funding will allow us to accelerate the development of our DLE process plant and bring it to market sooner.”
The funding from the Energy Funding Commission is a testament to the importance of Solarbio Energy’s work and its potential to impact the global lithium market. The company’s new extraction process has the potential to make lithium more affordable and accessible, which would support the growth of the electric vehicle market and the transition to a clean energy future.
Solarbio Energy plans to use the funding to build a pilot plant to test its DLE process on a larger scale. The pilot plant is expected to be operational in 2024. If the pilot plant is successful, the company plans to build a full-scale lithium production facility in a new designated site in Chile.
The development of new lithium extraction technologies is essential to meeting the growing demand for lithium and supporting the transition to a clean energy future. Solarbio Energy is at the forefront of this effort, and the funding is a significant boost to the company’s work.