JV Partner Clontarf Issues Bolivia Update At Their Annual Meeting

/EIN News/ -- Las Vegas, Nevada, July 10, 2024 (GLOBE NEWSWIRE) -- NEXT-ChemX Corporation (OTC: CHMX), (“NEXT-ChemX”) is pleased to provide a summary of the Clontarf Energy plc (“Clontarf”) corporate update released on July 9, 2024.

Clontarf is our joint venture partner managing negotiations with the Bolivian State Lithium Company on behalf of our joint venture in the Bolivian convocatoria or ‘call for expressions of interest’ in developing Bolivian lithium brines. Clontarf presented a corporate update at their annual meeting held July 9, 2024, in London, UK stating: “Clontarf is now in Phase 4 of a 5 Phase process, which now focuses on maturity of the offered technologies. Stream 1 covers companies claiming to be already operating Direct Lithium Extraction plants. Stream 2 includes operators with an existing technology and plants being commissioned. Clontarf was initially placed in Stream 3, but now expects to be treated as Stream 2, since the joint venture’s plant now awaits bulk samples for production testing.”
NEXT-ChemX, is currently assembling, and commissioning its iTDE pilot plant that it expects will demonstrate its direct extraction of lithium. The plant is being readied to conduct preliminary testing of synthetic brines based on chemical compositions recorded from the priority Bolivian salares.

The Clontarf release continued stating the joint venture had “applied for bulk samples to be collected on its behalf, by the State Lithium Company under applicable rules, from at least two salares. One of these is expected to be high-grade Lithium, and the other including major Magnesium content, as well as attractive Lithium content. This may confirm the output, purity and operating costs of the likely range of brines to be processed. On receipt, these samples will be sea-freighted to our joint venture’s pilot plant near Mumbai, India.”

Actual production testing will start immediately after arrival at site, as a priority. Bolivian technical experts are invited to attend the production testing, to confirm results.

Clontarf noted: “Reflecting the current maturity of our joint venture’s Direct Lithium Extraction pilot plant, Clontarf expects sample delivery to be expedited and Clontarf to be effectively promoted to Stream 2 of the technology confirmation process. This may immediately follow negotiations with the 3 Chinese and one Italian company who state that they already have DLE operations.”

“Signing of convenios, and possibly contracts, may follow successful testing and negotiations of terms and conditions. We anticipate deploying plants to one or more Bolivian salares thereafter.”

NEXT-ChemX Corporation CEO, Mr. Wilcoxon, commented, “Our Joint Venture Partnership’s acceptance into Phase 4 of the 5-phase process is a significant milestone for our iTDE technology. There are still challenges ahead of us and while there can be no assurances we will receive final approvals; we remain confident in our technology and are waiting upon pilot plant testing of the selected brines to confirm the cost effectiveness of our environmentally friendly solution.”

About NEXT-ChemX Corporation

NEXT-ChemX Corporation is an innovative technology company preparing to introduce its proprietary, patented novel Membrane-Based Ion Extraction Technology, known as iTDE technology (ion Targeting Direct Extraction) that has been proven to extract very low concentrations of certain ions from liquid solutions, while reducing the harmful impact to the environment using current processes. Our system uses a unique hollow fiber technology to extract lithium directly from brines, leach solutions, or recycled battery solutions. The extraction process is continuous, proven and can be used for a range of metal ions and radioactive ions. In addition, the system performs exceptionally well and more economically when purifying bio-oils and biodiesel. Our unique technology is easily scalable, and we are currently developing a modular extraction pilot plant which would allow for the rapid deployment of an extraction facility and its onsite assembly even in remote and difficult environments.

NEXT-ChemX Corporation, is a Nevada company trading on OTC Markets as “CHMX”. Please visit the Company’s website at www.next-chemx.com

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Contact:
J. Michael Johnson,
President, NEXT-ChemX Corporation
Phone: +1 725-867-0789
email: info@next-chemx.com