Forward Water Technologies Corp (TSX-V:FWTC) told investors it is actively pursuing opportunities to develop direct lithium extraction (DLE) projects.
The company, in a statement, has given a commercial update following enquiries received since its previous update, on March 20.
It said that commercial-scale plants utilizing the company’s process technology could generate approximately US$25 million of revenue per plant.
That’s based on current specifications and information provided by various interested parties.
Revenue from each plant would be recognized over 36 months, though exact amounts and timelines will vary, it detailed.
In addition to the DLE projects, Forward Water said it continues to explore multiple industrial wastewater opportunities in collaboration with its marketing partners.
Preliminary engineering work suggests that these opportunities could each bring in between US$2 million and US$6 million, should they proceed to commercial contracts.