- Business
- International Battery Metals Ltd. (TSXV: IBAT) develops and deploys modular direct lithium extraction (DLE) technology for sustainable lithium recovery from brines including solar, geothermal, oilfield produced water, and subsurface aquifers; the company offers proprietary selective absorption media housed in patented extraction columns within transportable skid-mounted platforms that achieve up to 95% lithium recovery rates, recycle up to 98% of process water with zero chemicals used, and enable rapid deployment in 12 to 18 months at low capital and operating costs. Founded in 2010 and headquartered in Vancouver, Canada, with operational bases in Plano, Texas, and Houston, Texas, IBAT targets resource holders, industrial customers, and producers of battery-grade lithium for electric vehicles, energy storage, and electronics across North America, the Middle East, and global brine opportunities. The company, formerly Rheingold Exploration Corp. until its name change in August 2017, operates in the specialty chemicals and industrial metals mining sector with a focus on ethical, low-impact extraction. Recent developments include an agreement with US Magnesium LLC for the world's first modular DLE plant installation at its Utah facility to process lithium-containing waste-magnesium salts into lithium chloride feed for high-purity lithium carbonate; a September 2025 18-month exclusive collaboration with a major Middle East energy services provider to pursue regional DLE opportunities via joint proposals and tenders; a binding term sheet signed in January 2024 for MDLE plant deployment with a western US metals producer targeting initial 4,000 metric tons per annum lithium carbonate equivalent production; and follow-on investments totaling USD 10.2 million from EV Metals affiliates in 2025 under a March 2025 letter of intent, with the latest USD 2.0 million private placement closing around October 30, 2025, to fund modular DLE advancements and general corporate purposes.