Green Tech Miner Signs LOI with Water Management Firm

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, June 22, 2023

This pure play lithium company has developed proprietary technology to extract lithium from oilfield wastewater, and just signed an LOI with a water management company form a JV that will establish manufacturing facilities in the U.S.

Green technology mining company Sustainable Projects Group Inc. (OTC US: SPGX) is a pure-play lithium company focused on supplying high performance lithium compounds to the fast-growing electric vehicle and broader battery markets. Today the firm announced in a press release the signing of a nonbinding letter of intent with a leading midstream water management company to form a joint venture company. The LOI provides that the JV Parties intend to enter into a definitive joint venture agreement by a target date of July 6, 2023.

Using SPGX’s proprietary technology, the project looks to establish three manufacturing facilities in the United States with an annual combined capacity of 3,800 metric tons of lithium carbonate and 39 million barrels of water for beneficial reuse and plan to become operational in 2024 through 2026.

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