Thu. Jul 18th, 2024

The move to electric vehicles (EVs) has put pressure on lithium supplies. According to the International Energy Agency (IEA), EV batteries accounted for about 60% of global lithium demand in 2022. The IEA has warned that lithium mining and processing “will need to increase rapidly to support the energy transition, not only for EVs but more broadly to keep up with the pace of demand for clean energy technologies.”

While EVs are designed to tackle environmental concerns, lithium extraction itself poses fresh ones. Mining can cause soil erosion, disturb wildlife habitats and pollute water and air with chemicals and heavy metals. On top of that, traditional extraction processes are both water- and energy-intensive. “We fundamentally will miss the opportunity EVs provide without alternative methods of producing more lithium, faster,” says Adam Le Dain, Vice President of Strategy and Corporate Development at Summit Nanotech.

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