NEW YORK, May 22, 2018 /PRNewswire/ --

According to data compiled by Allied Market Research, the global lithium ion battery market is expected to reach $46.21 billion by 2022 and at a CAGR of 10.8 percent. The increasing adoption of rechargeable products such as portable devices and electric vehicles are primary drivers for the market. Currently, portable devices control majority of the lithium ion market share, but in the coming years, electric vehicles (EVs) are expected to be the biggest market driver. Electric vehicles are growing more popular due to its environmental impact, which led governments to aggressively encourage developments in the industry and companies to invest in R&D. MGX Minerals Inc. MGXMF, Orocobre Limited OROCF, Wealth Minerals Ltd. WMLLF, Ford Motor Company F, Toyota Motor Corporation TM

These rechargeable batteries are compact, yet the energy density allows for the vehicles to drive a further range than previous battery choices. Gerard Reid, equity researcher and fund manager at Alexa Capital, explained, "Lithium is quite unique as a material in that it is very light with the lowest reduction potential of any chemical element which allows batteries based on lithium to have unbeatable performance. Lithium-ion batteries costs are likely to fall another 50% by 2020 to $100/kWh while at the same time energy density should increase by 20% which will help bring the range of the average electric vehicle (EV) towards 500km."

MGX Minerals Inc. MGXMF also listed on the Canadian Securities Exchange under the Ticker XMG. Last week MGX and its 51% owned engineering partner PurLucid Treatment Solutions Inc. provided, "a progress report related to the deployment of lithium recovery and wastewater treatment systems in Alberta, Canada. To date, MGX and PurLucid have completed commercial-scale trials with multiple oilfield operators and are now preparing to deploy systems.

The first scheduled deployment is with a major oil and gas operator in Alberta to operate an integrated wastewater treatment and lithium recovery system. Sufficient data has been collected to allow for engineering designs specific to the deployment site and PurLucid has completed fabrication of the combined system. Delivery of the system remains on track and is scheduled for commissioning shortly.

The second scheduled deployment represents a contract and agreement between a consortium including government, oil and gas operator, MGX and Purlucid to receive and treat evaporator blowdown wastewater ("EBD"). The contract will include installation of three treatment systems.

The first system is an EBD treatment system (10 m3/hr) which will take highly concentrated evaporator brine and treat it to a level suitable for reinjection on site.

The second system is a high temperature system that will be installed to treat produced water following oil-water separation. The technology provides superior treatment outcomes when compared to conventional technology and can do so without cooling water first. This will result in significantly less energy use for water treatment and also eliminate the single major operational challenge of steam assisted gravity drainage ("SAGD") facility, which is heat exchanger fouling. By eliminating the need for cooling, heat exchangers are also eliminated. The high temperature system will also be used to test the patent-pending combined power generation design. This design will fill the void in electrical capacity as coal is phased out while generating enough steam for a combined heavy oil recovery project. With the high-pressure water treatment and co-gen design facilitated by this treatment approach, heavy oil production will have a lower GHG footprint than conventional oil.

The third system is a larger-scale version (35 m3/h) of the first system and is intended for deployment to treat one-through steam generator ("OTSG") boiler blowdown. This blowdown represents the largest water loss at any SAGD facility.

The goal is to create treated water suitable for reuse, saving the majority of water loss in most SAGD projects. The system will also greatly reduce both the complexity and cost for new and expansion SAGD projects while at the same time demonstrating large-scale treatment capabilities suitable for other thermal and industrial wastewaters. The Projects represent significant cost savings for oilfield operators in water handling and revenue for MGX and Purlucid in wastewater treatment with additional opportunity for lithium and mineral recovery."

Orocobre Limited OROCF is a dynamic global lithium carbonate supplier and an established producer of boron. On April 30, 2018, the company announced quarterly report of operations for the period ended 31 March 2018. The company posted record quarterly sales revenue of US$41.3 million on total sales of 3,052 tonnes of lithium carbonate. Total sales revenue for the year to date is US$105 million. Preparatory works have commenced at Olaroz for the 25,000 tonne per annum (tpa) Phase 2 expansion bringing Olaroz to a total production capacity of 42,500tpa. This has included the clearing of small amounts of low biodiversity vegetation by local contractors where the new ponds are located, construction of roads and drill pads and the first new bore. Upgrades to sewerage facilities and the camp will commence in the June quarter. A final investment decision is still expected mid-year. Negotiations have advanced with the two possible contractors on the construction of the 10,000tpa Naraha Lithium Hydroxide Plant in Japan. Discussions have progressed with Toyota Tsusho Corporation (TTC) regarding the final commercial arrangements between the JV partners. A final investment decision is still expected mid-year.

Wealth Minerals Ltd. WMLLF is a mineral resource company focussed on the acquisition and development of lithium projects in Chile, South America. Earlier this month, the company provided a Trinity Project update. The Company is finalizing a drill contract and expects to begin drilling before the end of May 2018. Drilling will consist of three drill holes to test priority drill targets identified during Transient Electromagnetic surveys. The Company completed TEM surveys on the Trinity Project. TEM surveys identified highly conductive zones, which are interpreted to represent porous media with high-salinity fluids (potentially lithium-bearing brines) at depth. Multiple anomalies are identified within the survey area with several drill targets southwest of the surface brine area. These targets represent the highest priority for exploration as they have the highest tenor conductivity (lower resistivity) suggesting greater saturation and/or higher salinity.

Ford Motor Company F is a global company based in Dearborn, Michigan. On March 22, 2018, the company and Mahindra Group announced that they will jointly develop new SUVs, and a small electric vehicle as part of several initiatives. The two companies signed five new memoranda of understanding (MoU) that further strengthen their strategic alliance and accelerate the development of key products for consumers in India and emerging markets. The MoUs, which are non-binding, mark the progress made by the two companies since announcing their alliance in September 2017. Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to extend Ford's product range.

Toyota Motor Corporation TM in April announced that it plans to introduce to the Chinese market plug-in hybrid electric vehicle (PHEV) versions of its "Corolla" and "Levin" passenger cars in 2019 and a battery electric vehicle (BEV) model based on its "C-HR" / "IZOA" compact SUV in 2020. Including these, Toyota plans to introduce 10 new electrified vehicles in China by the end of 2020. And, by further promoting its local production of electric motors (powertrain components), batteries, inverters, and other electrified-vehicle core technologies, Toyota aims to further accelerate its China-based vehicle electrification efforts. To accelerate its vehicle electrification in China, Toyota is also strengthening its local R&D and production bases. In 2020, it plans to open a new battery testing facility at Toyota Motor Engineering & Manufacturing (China) Co., Ltd. (TMEC), which is Toyota's R&D center in China, for evaluating battery packs for electrified vehicles. And, with its sights set on introducing BEVs in 2020, Toyota is steadily enhancing its local production structures.

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