CALGARY & AUSTIN, TEXAS, June 14, 2024 – Summit Nanotech (“Summit”) and Zelandez announce the signing of a non-binding letter of intent (LOI) on May 14, 2024, to align on streamlining the process from brine to battery, leveraging Summit’s cutting-edge denaLi^TM Direct Lithium Extraction (DLE) technology and Zelandez's advanced ErLi^TM carbonation technology. The LOI initiates scope of work discussions for an evaluation project using brine from one of Summit’s South American salars to produce battery-grade lithium carbonate.

·       UN Trade & Development (UNCTAD) predicts that lithium demand could increase by over 1,500% by 2050 to meet the global net-zero emission targets

·       Lithium production utilizing DLE technology will reach 526kt by 2030 - BloombergNEF

·       denaLi^TM DLE has demonstrated 96% lithium recovery with South American brines

Many new mining projects must come online globally to produce the critical minerals necessary to support the green electric revolution. Summit and Zelandez will support the development of these critical minerals needed for battery production by demonstrating commercial-scale production of lithium carbonate.

Amanda Hall, CEO of Summit Nanotech, commented, "Zelandez is a company with deep experience and knowledge of the brine reservoirs of South America. We plan to use their brine field services in the exploration and development stage of our assets, and we are even more supportive now that they are developing a modular back-end carbonation process. We can move our joint venture assets into production faster by using incremental phases of drilling, DLE and carbonation on-site.”  

Summit Nanotech and Zelandez intend to significantly reduce the time and environmental footprint associated with lithium production using DLE and lithium carbonation services. They are targeting the world's most economical and high-quality lithium production assets, located in the lithium triangle.

Gene Morgan, CEO of Zelandez, stated, "We’ve often said at Zelandez that it’s the people that make any deal or job worth doing. Working with Amanda Hall and the Summit Nanotech team is a natural fit, as they are a fantastic group of engineers and geoscientists – we both value agility, scientific rigor, reducing environmental impact and respecting local communities. We see this LOI as the first step in a long strategic alignment."

About Summit Nanotech

Summit Nanotech Corporation is a cleantech company transforming how the world accesses lithium for EV batteries and the global energy transition. Their patented and sustainable direct lithium extraction (DLE) technology, denaLi™, extracts high-quality lithium from brine using a sorbent and water recovery solution, making way for a sustainable alternative to the traditional extraction process. denaLi™ DLE will preserve ecosystems and optimize operations for lithium producers globally. Established in 2018 and headquartered in Calgary, Alberta, Summit Nanotech has been awarded as a 2024 Global Cleantech 100 winner, Foresight 50 for most investable cleantech venture, and the Solar Impulse Foundation's Efficient Solutions Label. Learn more at summitnanotech.com.

About Zelandez

Zelandez is the leading brinefield services provider to the lithium-brine industry. The company provides a comprehensive suite of advanced exploration and extraction tools that empower its clients with valuable insights and data-driven decision-making. It also offers complete wrap-around integrated services for lithium mining companies, leveraging advanced geophysical technologies and expert geoscience know-how. Zelandez works with leading lithium mining companies in Argentina, Bolivia, Chile, the United States of America, and Canada.

Contact:

Leslie Newell

Director, Marketing & Communications

media@summitnanotech.com

Clint Van Marrewijk

Director, co-founder

media@zelandez.com

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