Lake’s JV Partner Secures A Grade Investors

 

Lake Resources (ASX: LKE) has announced that its clean technology partner Lilac Solutions Ltd (Lilac) will join the Argentinian Kachi project, earning up to 25% at the asset level, subject to performance hurdles. Lilac has some big-name backers – including Breakthrough Energy Ventures, a non-profit venture of Bill Gates (of Microsoft fame) whose investors include billionaires Amazon’s Jeff Bezos and Michael Bloomberg – with the company bringing a patented new untried technology to the lithium brine industry. However, offtakers and some investors perceive new technology risk to be a drag on project timelines. Addressing this, Lilac will take a direct participation in Kachi, which is testament to their belief in their patented ion-exchange technology, which although new to the lithium space has been used extensively in the water and uranium industries.