Forward Water Technologies Corp (TSX-V:FWTC) has inked a non-binding Letter of Intent (LOI) with Aalborg CSP, a leading developer of solar thermal collectors, to leverage Aalborg CSP's solar thermal solutions for integration into its proprietary Forward Osmosis (FO) technology systems, specifically for Direct Lithium Extraction (DLE) applications.
The LOI signifies a significant step toward creating a mutually beneficial relationship that could lead to the commercialization of Forward Water Technologies' industrial Solar-FO process integrated with Aalborg CSP's solar thermal offerings, the company said in a statement.
Forward Water Technologies brings expertise in FO technology and design, offering comprehensive project support. However, it recognizes the need for a partner with proficiency in sourcing and constructing solar thermal systems.
The company called Aalborg CSP “the ideal candidate,” boasting extensive solar thermal engineering expertise, established supply chains, and fabrication capabilities.
The primary goal of the collaboration is to deliver a robust and unique system and process offering that enhances both companies' portfolios. Notably, this partnership does not involve the licensing of proprietary intellectual property; instead, it represents a cooperative effort to explore DLE client opportunities where the integration of Aalborg CSP's solar thermal solutions can add value.
"We are excited to proposed relationship with Aalborg CSP as the integration of their solar thermal energy offerings into our FO designs establishes a new benchmark in energy requirements for extraction and reuse of water from challenging process streams at less than 10 kWh/m3 of electrical energy,” Grant Thornley, the company’s vice president engineering solutions said.
“FO operations driven by solar thermal enables us to meet and surpass client requirements of reduced CO2 emissions, increased water reuse and sustainable operations as needed by our direct lithium extraction clients in support of their environmental permits and process economics.”
Toronto-based Forward Water Technologies is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology.