VANCOUVER, BC, Dec. 2, 2022 /CNW/ - International Battery Metals Ltd. (the "Company" or "IBAT") (CSE: IBAT) (FSE: 8RE) today announced the appointment of Garry Flowers as Chief Executive Officer. Mr. Flowers succeeds IBAT founder Dr. John Burba, who remains Executive Chairman as well as becoming Director of Global Technology and will focus on the deployment of IBAT's lithium extraction plants as well as the expansion of IBAT's family of patents, and technology development including lithium processing.
Mr. Flowers has served as IBAT's President since June, 2022 and as a member of the Company's advisory board since April, 2021.
IBAT has achieved remarkable progress over the past 10 months, advancing from the assembly of its first-ever modular direct lithium extraction (MDLE) plant in March, 2022, to full systems testing in April and to extracting lithium chloride (LiCl) from brine in mid-May. In September, SLR Consulting, a global leader in environmental and engineering services, completed an independent review and verification of IBAT's technology.
"I have never been more excited for the future of this Company. IBAT has made tremendous strides with its patented and proven technology over the past 12 months, and we're ready to accelerate the business into the operational phase," said Dr. Burba. "We have reached a stage where we require additional executive focus to advance both the Company's strategy and the deployment of our ground-breaking technology. On behalf of the Board, I'm very pleased to announce the appointment of someone with Garry's extraordinary experience and capabilities in engineering, finance and major-project management as CEO, and to turn my full focus to the implementation and expansion of our innovative technology."
Prior to joining IBAT, Mr. Flowers served as Executive Vice President of Operations and oversaw a combined global workforce of 10,000 people for Fluor Corporation, a global leader in engineering, construction and project management. Previously, as President and CEO of Savannah River Nuclear Solutions – a subsidiary of Fluor, Northrup Grumman and Honeywell – Mr. Flowers managed a $3 billion annual contract and a total headcount of 9,000. Mr. Flowers brings proven expertise in engineering design construction, sustainable development, construction technology, field human resources, performance management and cost control.
"It has been a pleasure to work alongside John during these exciting past several months and to help IBAT's first-of-its-kind technology jump from the testing phase to become operational and ready to deploy," Mr. Flowers said. "It's time now to accelerate our strategy towards forming joint ventures or other partnerships with lithium resource owners, with the goal of delivering rapid and sustainable revenue growth from the production of battery-grade lithium. I look forward to working with John on deploying our technology into the field."
As Director of Global Technology, Dr. Burba will be responsible for the deployment of IBAT's commercial-scale modular plants. As currently configured, IBAT's first mobile lithium extraction plant has the potential to produce 5,000 metric tons of commercial-grade lithium chloride per year, on a lithium carbonate equivalent basis. Its economical, modular design allows the technology to be deployed more rapidly and at far lower capex, than traditional lithium processing methods. Further, the modular design allows for IBAT's technology to be scaled up quickly to extract lithium from the world's largest resources.
IBAT is currently in discussions regarding deployment and global expansion with numerous companies and preparing for the fabrication of additional modular direct lithium extraction units.
ON BEHALF OF THE BOARD
"Dr. John Burba"
Dr. John Burba, Executive Chairman Tel: (778) 939-4228
International Battery Metals (IBAT) is the first company in the world to successfully design, build and operate a mobile, Modular Direct Lithium Extraction (MDLE) plant at commercial scale with lithium brine. IBAT's patented extraction technology is proven to recover more lithium from brine than traditional methods, while offering a far superior environmental performance. IBAT's technology can be built, deployed and brought on-line in a fraction of the time, and at a fraction of the cost of traditional lithium mining models.
Forward-looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward – looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward – looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward – looking statements.
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SOURCE International Battery Metals Ltd.
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