Anson Resources Ltd (ASX:ASN) has entered into an updated, non-binding MoU with New York Stock Exchange-listed TETRA Technologies Inc for the collaborative production of bromine from Anson’s Paradox Lithium-Brine Project in Utah.
Under the updated MoU, the expiry date has been extended to July 31, 2022.
The extension was designed to give the companies time to discuss a change of product mix, prompted by TETRA’s increased zinc-bromide commitment from energy storage battery technology manufacturers and the future supply of bromide and sodium-bromide.
Targeting zinc-bromine market
“We are very excited by the growth potential in the zinc-bromine battery market, which will directly support the production of bromine from our Paradox Lithium Project,” Anson Resources executive chair Bruce Richardson said.
“The advantages of the zinc-bromine battery such as faster recharging capability, a longer lifecycle, more discharge hours are propelling growth in the global market.
“The growing investments into renewable energy projects represent a strong positive factor fuelling growth in the zinc-bromine battery market, addressing the intermittent nature of renewable energy sources and maintaining grid reliability.
“We are fortunate to have a strong endowment in both lithium and bromine, allowing Anson to participate in the exponential growth in battery demand for both electric vehicles and energy storage systems.”
TETRA’s patented manufacturing process produces some of the highest purity zinc-bromide (ZnBr) globally.
The company is a global leader in the production of zinc-bromide (ZnBr), calcium-bromide (CaBr) and sodium-bromide (NaBr), which are used in multiple industrial applications including exponentially growing grid energy storage batteries, as well as oil and gas markets.
About Anson Resources
Anson Resources is developing its flagship Paradox Basin Brine Project in southern Utah in the US for the recovery of valuable chemicals from a unique salt brine resource.
Besides the brine project, Anson is also exploring base metal projects in Western Australia with a strong focus on the Bull Project, which is along strike of Chalice Mining’s high-grade nickel-copper-PGE Julimar discovery.