- Business
- Lithium & Boron Technology, Inc. manufactures and sells boric acid and related compounds for industrial and consumer applications; produces lithium carbonate and lithium hydroxide for the electric vehicle battery and energy storage markets through proprietary extraction processes from mineral-rich brine at Dachaidan Salt Lake. The company operates boric acid manufacturing facilities via its subsidiary and pursues expansion into battery-grade lithium products using low-cost sorbent technology. Founded in 1954 and headquartered at 60 East Ren-Min Road, Dachaidanzhen, Qinghai Province, China, it primarily serves markets in the People's Republic of China within the commodity chemicals sector. Formerly known as SmartHeat Inc., the company changed its name to Lithium & Boron Technology, Inc. in October 2019 to reflect its strategic pivot from heat transfer equipment to lithium and boron chemicals. In November 2021, it announced a technological breakthrough in lithium carbonate extraction and formed a joint venture with Xi’an Jinzang Membrane Environmental Protection Technology Co., Ltd. to produce battery-grade lithium hydroxide and carbonate, enabling production costs of approximately $3,125 per tonne. No major acquisitions, funding rounds, or further strategic shifts have been reported in the last 1-2 years amid ongoing operations in China.