Issue 75, February 16th February 28th

Size: px

Start display at page:

Download "Issue 75, February 16th February 28th"

Lawrence Hopkins
5 years ago
Views:

1 Issue 75, February 16th February 28th

CONTENT 1Introduction Batteries and Vehicles Electrovaya signed MoU with major Asian conglomerate Hyundai prepares to roll-out massproduced fuel cell vehicles Hydro-Quebec expands its electric

2 CONTENT 1Introduction Batteries and Vehicles Electrovaya signed MoU with major Asian conglomerate Hyundai prepares to roll-out massproduced fuel cell vehicles Hydro-Quebec expands its electric service network signing new agreements Lithium Industry During the last two weeks of February Rockwood Lithium released their financial results for Q where net sales and Adjusted EBITDA for the lithium segment increased 13.9% and 9.2% respectively due to higher volumes and prices. Even though this report covers news for the second half of February, we would like to highlight in this introduction two important news from early March: SQM financial results for 2012 and the demonstration of Posco s new technology for lithium carbonate production in Chile. Regarding SQM s financial results, lithium revenues in 2012 were US$ million, 21.2% more than 2011, with sales volumes that reached a record of 45,700 tons of LCE. Finally, Posco (that has interest in Li3 Energy for the Maricunga project in Chile) in its pilot plant (near Antofagasta, Chile) had demonstrated a new process based on chemical reactions that reduces the production timeframe of lithium carbonate from 12 months (approximately with the traditionally evaporation process) to 8 hours with recovery rates above 80%. The company stated that is actively participating in the new wave of lithium projects of the future. Rockwood reported Q4 and full year 2012 results International Lithium reported drilling program results Orocobre provided update on its Olaroz Lithium Project Talison Lithium updated Tianqi transaction

2 Batteries and Vehicles BRIEF NEWS HIGHLIGHTS Samsung SDI and Xtreme Power will supply energy storage solutions for Tech Center Source: Samsung SDI As part of the American Recovery and Reinvestment

3 2 Batteries and Vehicles BRIEF NEWS HIGHLIGHTS Samsung SDI and Xtreme Power will supply energy storage solutions for Tech Center Source: Samsung SDI As part of the American Recovery and Reinvestment Act, the Center for the commercialization of Electric Technologies chose Samsung SDI and Xtreme Power for the supply of a 1MW/1MWh lithium-ion battery energy storage system for the Reese Technology Center in Texas. Electrovaya signed MoU with major Asian conglomerate Date: February 20th Source: Electrovaya Electrovaya announced that it has signed a Memorandum of Understanding (MoU) with an Asian Conglomerate with interests in the automotive, energy, chemical and other business globally. The MoU includes: 1) Minority equity interest in Electrovaya (up to 10%); 2) Marketing and procurement of Electrovaya s lithium ion batteries in areas such as energy storage for grid, smart city, among others; 3) Develop a joint venture and equity interest in a lithium ion battery manufacturing plant in India; and 4) Procurement of the raw materials and/or facilities necessary for the production of lithium ion batteries. Hyundai prepares to roll-out mass-produced fuel cell vehicles Date: February 26th Source: Hyundai Hyundai commenced the assembly-line production of zeroemissions, hydrogen-powered vehicles. The ix35 Fuel Cell vehicle fitted with a lithium-polymer battery would be used for fleet customers in the Cities of Copenhagen and Skåne, Denmark and Sweden respectively. The company plans to build 1,000 of these vehicles by 2015 for public lease and private fleets.

BRIEF NEWS Cabot launched additive to energy density of lithium-ion batteries Date: February 25th Source: Cabot Hydro-Quebec expands its electric service network signing new agreements Date: February

4 BRIEF NEWS Cabot launched additive to energy density of lithium-ion batteries Date: February 25th Source: Cabot Hydro-Quebec expands its electric service network signing new agreements Date: February 28th Source: Hydro-Quebec Hydro-Quebec and the Electric Circuit announced the signature of a partnership agreement with the Bell Centre and with the Cégep de Saint-Hyacinthe to install public charging stations at their parking lots. The specialty chemicals and performance materials company Cabot Corporation launched the LITXTM G700, a graphene-based additive for high energy density lithium-ion battery applications designed for electric vehicles and high-end consumer electronics. Johnson Controls to power Torqeedo s electric boat motor Date: February 28th Source: Johnson Controls Johnson Controls announced that this spring would start the production of lithium-ion battery packs at its battery plant in Holland for the German-based manufacturer Torqeedo to power its all-electric boat motor branded DEEP BLUE.

3 Lithium Industry BRIEF NEWS HIGHLIGHTS Galaxy resumed lithium carbonate production at Jiangsu Plant Date: February 26th Source: Galaxy Lithium Galaxy Resources announced that its Jiangsu Lithium

5 3 Lithium Industry BRIEF NEWS HIGHLIGHTS Galaxy resumed lithium carbonate production at Jiangsu Plant Date: February 26th Source: Galaxy Lithium Galaxy Resources announced that its Jiangsu Lithium Carbonate Plant has been fully operational and is producing lithium carbonate battery grade. The Plant was halted due an accident in November The company also announced that it has received the second tranche of its two-tranche financing arrangement with Deutsche Bank, the arrangement was settled on December 17th 2012 for a total of A$ 20 millions. Rockwood reported Q4 and full year 2012 results Source: Rockwood Holdings, Inc. The Q4 net sales and Adjusted EBITDA for the lithium segment increased 13.9% and 9.2% respectively. The increase in net sales was due to higher volumes of lithium carbonate and higher prices, and was partially offset by the negative impact of currency changes. The increase in EBITDA was due to higher net sales, and was partially offset by the negative impact of higher raw material costs. International Lithium reported drilling program results Source: International Lithium Corp. International Lithium Corp. reported results from the drilling program on the Mavis Lake and Fairservice claims near Dryden. The results showed values from 1.23% Li2O to 2.37% Li2O. In addition the company reported a wide alteration halo surrounding and between the pegmatites containing lithium bearing mineral holmquistite. The program s next step will be to test this model.

BRIEF NEWS Penrice Soda Holdings reported FY2013 results Date: February 28th Source: Penrice Soda Holdings Limited Penrice reported a statutory lost after tax of $28.

6 BRIEF NEWS Penrice Soda Holdings reported FY2013 results Date: February 28th Source: Penrice Soda Holdings Limited Penrice reported a statutory lost after tax of $28.1 million for H and a net loss of $8.3 million excluding significant items mainly driven by the negative demand conditions in soda ash and quarry material. The company is not producing soda ash since January, and is forming an import and distribution joint venture with SASS Victoria Australia Pty Ltd. Pure Energy Minerals submitted drilling permit Date: February 25th Source: Pure Energy Minerals Limited Orocobre provided update on its Olaroz Lithium Project Source: Orocobre Limited The Orocobre s Olaroz Lithium Project advances according to schedule. There has been progress in earthworks for the evaporation ponds, road construction, camp and other infrastructure. The company informed that US$65 million (of the US$229 million budget) has been committed to this point where 230 workers are at site. Talison Lithium updated Tianqi transaction Date: February 25th Source: Talison Lithium In order to move toward with Tianqi s acquisition of Talison Lithium, Tianqi had documented the evidence that demonstrates that it has the funding required to complete the transaction. Tianqi had signed loan agreements with Leader Investment Corporation a subsidiary of China Investment Corporation for C$300 million, also with Credit Suisse AG for US$ 200 million, with Industrial and Commercial Bank of China for US$120 million, and with Twenty Two Dragon Ltd. for US$ 50 million. In addition, the company reported that the Securityholder meeting approved the proposed Tianqi Share Scheme and the Option Scheme. Pure Energy Minerals through its operator GeoXplor Corp had presented to the Bureau of Land Management field office in Nevada, a drilling permit application. The permit provides for the drilling of up to 8 drills holes on its Alkali Flats lithium brine property in Esmeralda count, Nevada.

7 Fidel Oteiza 1921 Of Providencia - Santiago - Chile Office: Fax: info@signumbox.com

Issue 97, January 16th January 31st

Issue 97, January 16th January 31st CONTENT Batteries and Vehicles Saft military battery selected for testing in commercial use A new fund to accelerate PEV technology Samsung SDI plans to build a battery