MGX Minerals Increases Ownership in Cleantech Engineering Partner PurLucid Treatment Solutions
Low Cost Nanofiltration Lithium Extraction System Nearing DeploymentVANCOUVER, Jan. 04, 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.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0010e128-cd3f-434f-a69f-1142298bba93
http://www.globenewswire.com/NewsRoom/AttachmentNg/3db94ae8-0b17-40b6-b5d5-91b1a15aaf41
http://www.globenewswire.com/NewsRoom/AttachmentNg/19ec3cd9-ecbe-45e9-89ff-8e73ed4d963e
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.
