Summit Nanotech Closes $1.5M CAD Seed Financing Round and Signs Agreement with Nevada based 3 Proton Lithium (3PL) Operating Inc. to Advance Technology for Green Lithium Extraction in North America
Calgary AB, Canada – August 10, 2020 – Summit Nanotech Corp. (“Summit Nanotech”or the “Company”) is pleased to announce that it has signed a Letter of Intent (LOI) with 3PLOperating Inc., a Nevada Corporation, for the development of their assets in Railroad Valley, Nevada field trialing Summit’s denaLiTM DLE (direct lithium extraction) technology. Summit Nanotech has developed a patent pending rapid extraction process for the sustainable production of lithium from natural brine sources. Its state-of-the-art technology improves yield, uses no fresh water, decreases environmental impact and lowers GHG emissions. This collaboration will stabilize North American’s domestic lithium supply, which is growing more important given the global rise in demand for lithium ion batteries for renewable energy storage and electric vehicles.
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