Pan American Lithium CEO Predicts Smart Grid Electrical Power Needs Will Drive Demand for Lithium in 2012 and Beyond
November 14 2011 - 9:38AM
At a time when lithium battery technology is mostly associated with
mobile devices and hybrid car batteries, Pan American Lithium Corp.
(TSX-V:PL) (OTCBB:PALTF) (OTCQB:PALTF) anticipates a future that
includes soaring growth in lithium demand to help power the
electrical smart grid, among other applications.
As evidence for the projected demand for lithium, Pan American
CEO Andrew Brodkey cites an article by Tom Larsen of Palladium
Energy in "Hearst Electronics Products". See:
http://www2.electronicproducts.com/Lithium_batteries_Powering_future_smart_grids-article-fapo_Palladium_oct2011-html.aspx
Pan American Lithium, which holds rights in 11 lithium and
potash-bearing brine projects covering over 20,000 hectares in
Chile, aims to profit from the world's increasing need for lithium.
Brodkey noted that overall demand for lithium-carbonate, which is
the form of lithium used for batteries, is expected to be estimated
to be growing approximately 5% per year with battery demand
increasing over 25% annually. Pan American also has noted that
total lithium carbonate demand, which was estimated to be
approximately 85,000 metric tons per year in 2007, is predicted to
increase to over 200,000 metric tons per year by 2015. In addition,
Brodkey points out that Chile's combination of stable government,
established law and regulation, and a business-friendly climate
combine to make Chile the ideal location for lithium
development.
Brodkey also notes that Larsen cites the rising demand for
smart-grid electricity, as a contributor to lithium's future
growth. The smart grid matches energy transmission to peak demand
times. Coupled with advances in lithium battery technology, the
smart grid is expected to lead to a worldwide boom in demand for
lithium. The reason: the need to store energy on a much larger
scale than in the past. Large format, stationary lithium
battery technology is playing a key role in the total energy
picture due to its relatively low cost and high efficiency.
Worldwide growth in renewable energy for solar and wind sources
adds to the need for utility companies to store
electricity. Additional factors driving the growth in demand
for lithium are government incentives and mandates. An example
is the American Recovery and Reinvestment Act, in which the Obama
administration called for $4.5 billion smart grid investment,
including the installation of 40 million smart meters. The fact
that smart meters must have backup battery power represents another
opportunity for lithium technology.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP. /s/ Andrew Brodkey Andrew A. Brodkey
President and CEO (520) 623-3090
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company. There are numerous risks and
uncertainties that could cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking information, including: (i) inability of the
Company to complete its business plan; (ii) a decrease in demand
for and price of lithium or potassium; and (iii) general
uncertainties with respect to mineral exploration in general.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions of management on the dates they are made and are expressly
qualified in their entirety by this notice. Except as required by
law, the Company does not intend to update these forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
CONTACT: George McIntyre
CEOcast, Inc.
Tel: (212) 732-4300
gmcintyre@ceocast.com
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