MGX Minerals Increases Ownership in Cleantech Engineering Partner PurLucid Treatment Solutions
January 04 2018 - 8:30AM
InvestorsHub NewsWire
MGX Minerals Increases Ownership in Cleantech Engineering
Partner PurLucid Treatment Solutions; Low Cost Nanofiltration
Lithium Extraction System Nearing Deployment
VANCOUVER, BRITISH COLUMBIA /
January
4,
2018
/
MGX Minerals Inc.
("MGX" or the
"Company") (CSE:
XMG /
OTCQB:
MGXMF /
FKT:
1MG)
is
pleased to report the Company has increased
its ownership in engineering partner PurLucid
Treatment Solutions ("PurLucid")
from 34% to 46% by investment of C$1.45M. The Company maintains the
right to acquire 100% of PurLucid through successive future
investments.
Investment Recap
Since
announcing an acquisition and engineering partnership agreement in
September 2016, MGX and PurLucid have invented new technology and
filed patent application related to brine treatment and selective
lithium recovery. PurLucid's
exclusively
licensed nanoflotation technology, which purifies wastewater brine,
has since been integrated with a newly developed lithium recovery
process. Combined, this Cleantech process reduces the capital cost
of recovery compared with traditional solar evaporation, as it does
not require the investment in very large, multi-phase, lake sized,
lined evaporation ponds, greatly reducing the physical footprint
and enhancing the quality of extraction and recovery across a
complex range of brines previously considered unprocessable
due
to complexity or geographical location outside of solar evaporation
appropriate zones. This includes oil and gas wastewater, natural
brine, and other brine sources such as lithium-rich mine and
industrial plant wastewater.
Nanoflotation and Nanofiltration Technology
PurLucid and
MGX system utilizes a highly charged Replaceable Skin Layer (RSL)
membrane related to the
nanofiltration and High Intensity Froth Flotation
(HiFF)
system, known as nanoflotation, which collectively have
demonstrated performance superiority over other processes typically
used to remove contaminants. The technology allows ultra-high
temperature water treatment (up to 700oC)
at 10-30 times the efficiency of existing ultrafiltration systems
and offers numerous environmental benefits, including contaminant
removal, mineral recovery, reduced energy demand, smaller
footprints and lower capital costs. The technology was a 2017
finalist for the Most Disruptive Technology in the World award by
Katerva (see press
release dated February 21, 2017).
Petrolithium Technology
MGX and
Purlucid are implementing the lithium recovery process,
commissioning of the first 750 barrel per day system is underway,
extending the success achieved with the Petrolithium pilot recovery
system deployed in August 2017 (see press
release dated August 1, 2017). Although
combined system development and deployment are cornerstone to the
engineering partnership,
MGX holds the global rights to the jointly developed lithium
extraction technology while PurLucid retains the rights to the
pre-treatment water purification and core technology.
Government Grants
PurLucid was
recently awarded a non-repayable contribution totaling up to C$8.2
million in government funding to support the commercialization of a
low energy water treatment system for the oil and gas industry
(see press
release dated November 6, 2017). Purlucid
will fabricate and deploy a commercial-scale unit within an
operating steam-assisted gravity drainage (SAGD) facility in
Alberta. The contracted operation will generate up
to
C$2.0 million a year based on a per cubic meter environmental
processing fee that is approximately 50% lower cost than current
disposal costs (deep salt cavern). This project will serve as a
template for additional contracts currently under negotiation with
other oil and gas producers.
Lithium Extraction System Nearing
Deployment
Full
commissioning of the commercial-scale NFLi5 lithium recovery
system, capable of processing 750 barrels (120 cubic meters) of
brine per day, is nearing completion. Deployment of this unit is
expected to take place within the next 60 days
Photo 1. Pre-treatment and Lithium
Extraction System, PurLucid CTO David Bromley and Dr. Preston
McEachern review nanofiltration operations.
Photo 2. Operations and control area within containerized
recovery unit
Photo 3. Nanoflotation system
About PurLucid
PurLucid's
exclusively licensed and patented nanoflotation technology was
designed specifically for oilfield environments. The technology
separates impurities from oil and gas wastewater and produces clean
water as a final product. This allows for the recycling or
controlled release of oilfield wastewater and reduces or eliminates
downhole and associated transportation costs. Water handling costs
are one of the largest operating costs in the oilfield and
oilsands
operations today. Learn more at www.purlucid.com.
About MGX Minerals
MGX Minerals is
a diversified Canadian resource company with interests in advanced
material and energy assets throughout North America. Learn more
at www.mgxminerals.com.
Contact Information
Jared
Lazerson
President and
CEO
Telephone:
1.604.681.7735
Web:
www.mgxminerals.com
Neither the Canadian Securities Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or
forward-looking statements (collectively "forward-looking
information") within the meaning of applicable securities laws.
Forward-looking information is typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate",
"potentially" and similar expressions, or are those, which, by
their nature, refer to future events. The Company cautions
investors that any forward-looking information provided by the
Company is not a guarantee of future results or performance, and
that actual results may differ materially from those in
forward-looking information as a result of
various factors. The reader is referred to the Company's public
filings for a more complete discussion of such risk factors and
their potential effects which may be accessed through the Company's
profile on SEDAR at www.sedar.com.
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