Lithium Exploration Group to license its energy storage technology to Solaris Power Cells

Written By: Stratton Report
March 20, 2017

On March 20, Lithium Exploration Group Inc. announced that a non-binding MOU with Solaris Power Cells Inc. to license and develop Lithium Exploration’s energy storage technology. The goal, per the firm, is to finalize the agreements on or before May 1, 2017.

Lithium Exploration Group also intends to expand its engagement of Eric Dix and Innovation Associates to develop a strategy to further the development of this technology.

CEO Alex Walsh of Lithium noted:

This technology provides a truly differentiated way of collecting and storing energy that can be very useful for the Sonic Cavitation Ltd. Ultrasonic Generator’s water application. We intend to use it to capture the energy from the steam released from the generator and reuse that energy to run the unit, potentially generating enough power to run the entire system without outside energy needs. We plan to expand the development of this technology and file patents around the industry applications and core invention so that it can be widely distributed across all industries. The deal we are working on with the team at SPCL will be beneficial to both companies because once patented, SPCL will receive additional compensation and an ongoing royalty in perpetuity. SPCL has taken the technology as far as it can and we are going to take the baton and continue running to ensure it reaches its full potential. 

Lithium Exploration Group describes itself as an acquirer and developer of lithium brines and other metals. Currently the company is focused testing its SonCav Technology and the acquisition of oil and gas related assets in Western Canada