MGX Minerals Announces Arrival of First Rapid Lithium Extraction Oil & Gas Wastewater Treatment System
VANCOUVER, BC / ACCESSWIRE / October 18, 2018 / MGXMinerals Inc. (''MGX'' or the ''Company'') (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to report that engineering partner PurLucid Treatment Solutions (''PurLucid'') has delivered the first petrolithium and advanced wastewater treatment system to a centralized treatment and processing facility north of Edmonton and proximate to the Alberta oilsands. The commercial-scale 750 barrel per day (bpd) system is currently in final phase electrical connection and will be in operation shortly. MGX and PurLucid expect to begin processing concentrated evaporator blowdown wastewater under an existing agreement with an oilsands SAGD operator in early November and additional wastewater containing lithium from a second oilsands SAGD operator shortly thereafter.
The system is being installed at a centralized facility and will be able to take delivery of wastewater brine from multiple clients. The brine will be processed for lithium recovery, wastewater purification and disposal of residuals. PurLucid has been awarded a non-repayable contribution totaling up to C$8.2 million in government funding to support the commercialization of a low energy water treatment system for the oil and gas industry (see press release dated November 6,2017). A second 1,500 bpd system is near completion at PurLucid's manufacturing facility in Calgary, Alberta and is expected to be deployed in approximately 60 days with additional wastewater and mineral extraction systems to rapidly follow throughout 2019-2020.
''With the determinedbacking of our shareholders, investment funds, oilsands operators, associatedengineering companies, the Province of Alberta, and the Government of Canada,it has been shown, once again, that a small determined group of scientists andengineers can provide solutions to the most important of global problems. Thecombination of cleaning wastewater and extracting minerals sets the stage for abright future for MGX as we move into the revenue phase of our growth cyclewith this globally applicable, low capital intensive, and most importantly,scalable technology,'' stated Jared Lazerson MGX President and CEO. Adding, ''Weare accustomed to the idea that new technology inherently costs more, bychanging this relationship, and providing lower cost environmental solutions thestage is now set for rapid adoption of our technologies that provide a solutionto the most difficult of global wastewater problems and a revenue stream, asapplicable, from mineral extraction to further offset these costs or as astandalone technology, essentially creating an entirely new industry of recyclingof commodities from wastewater.''
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards held in London in May (see press release dated May 18, 2018). The Company has also been selected as a finalist for the 2018 S&P Global Platts Global Energy Awards- Emerging Technology and Rising Star- to be held in New York City in December. For more information on the event visit https://geaweb.platts.com/Finalists/Finalists2018.
About PurLucid
PurLucid's exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today. Learn more at www.purlucid.com. MGX currently owns 55% of PurLucid and has the right to acquire up to a 100% interest in PurLucid through successive investments.
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy, and water assets. Learn more at www.mgxminerals.com.
Contact Information:
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com
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Forward-Looking Statements
This press releasecontains forward-looking information or forward-looking statements(collectively "forward-looking information") within the meaning ofapplicable securities laws. Forward-looking information is typically identifiedby words such as: "believe", "expect","anticipate", "intend", "estimate","potentially" and similar expressions, or are those, which, by theirnature, refer to future events. The Company cautions investors that any forward-lookinginformation provided by the Company is not a guarantee of future results orperformance, and that actual results may differ materially from those inforward-looking information as a result of various factors. The reader isreferred to the Company's public filings for a more complete discussion of suchrisk factors and their potential effects which may be accessed through theCompany's profile on SEDAR at www.sedar.com.
SOURCE: MGX Minerals Inc.