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NEXT-CHEMX CORP (CHMX) drives innovation in sustainable chemical manufacturing through cutting-edge R&D and strategic industry partnerships. This news hub provides investors and industry professionals with essential updates on financial performance, product developments, and market expansion initiatives.
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On July 10, 2024, NEXT-ChemX provided an update on their joint venture with Clontarf Energy. Clontarf, managing negotiations with the Bolivian State Lithium Company, presented a corporate update on July 9, 2024. They announced advancing to Phase 4 of a 5-phase lithium extraction process, initially placing them in Stream 3 but now potentially promoting them to Stream 2 due to their advancing technology. The joint venture awaits bulk samples from Bolivian salares for production testing in Mumbai, India. Successful results could expedite negotiations and potential contracts for deploying lithium extraction plants. NEXT-ChemX CEO highlighted the milestone but noted remaining challenges and the need for successful pilot testing.
Next-ChemX (OTC: CHMX) and its partner Clontarf Energy have advanced to Phase 3 in the Bolivian State Lithium Company’s (YLB) convocatoria for lithium extraction at seven priority salt pans in Southern Bolivia. This selection follows the successful submission of technical materials on state-of-the-art lithium extraction technologies. Phase 3 will demand financial validation and pilot plant demonstrations of Next-ChemX’s technology. Clontarf has expanded its European partnership to include key financing and high-tech lithium offtake partners, with support from the European Commission. CEO Wilcoxon emphasized the significance of this milestone while acknowledging future challenges and the need for pilot plant testing to verify cost-effectiveness.
NEXT-ChemX Corporation (OTC: CHMX) has entered a Contractual Partnership Agreement with Clontarf Energy plc to form the 'Clontarf NEXT-ChemX JV.' This partnership aims to showcase the feasibility of NEXT-ChemX's ion-Targeting Direct Extraction (iTDE) technology in lithium extraction in Bolivia. Clontarf will pay $500,000 to NEXT-ChemX for this exclusive partnership. The first step involves demonstrating the technology's environmental and commercial benefits to the State Lithium Company (YLB) using a new pilot plant system expected to be ready by Q2 2023. A successful demonstration could lead to the establishment of a commercial pilot plant in Bolivia and further agreements for lithium extraction.
NEXT-ChemX Corporation (OTC: CHMX) has signed a 'Heads of Agreement' with Clontarf Energy plc for a 50-50 joint venture to commercialize NEXT-ChemX's Direct Lithium Extraction technology in Bolivia. Clontarf will pay USD $500,000 for exclusive rights, funding the pilot plant testing and construction slated for Spring 2023, with initial results expected by Summer 2023. This innovative iTDE technology aims to enhance lithium extraction efficiency while minimizing environmental impact. The joint venture will also explore collaboration with Bolivia's state-owned lithium company for priority brine testing.
NEXT-ChemX Corporation (OTC: CHMX) was awarded the ACI Distinguished Paper Award at the AOCS Annual Meeting for its research published on surfactants in the Journal of Surfactants & Detergents. The study, co-authored by Dr. Nikolai Kocherginsky and Dr. Brajendra K. Sharma, demonstrated that ionic surfactants can create transmembrane electrical potentials in biomimetic membranes, suggesting potential applications in screening new detergents. This recognition spotlights NEXT-ChemX's innovation in surfactant technology, enhancing its reputation in the cleaning products industry.
NEXT-ChemX Corporation (OTC: CHMX) recently showcased its patented membrane-based oil and biodiesel purification technology at the 2022 American Oil Chemists’ Society Annual Meeting. The presentation by Chief Scientist Dr. Nikolai Kocherginsky highlighted the technology's energy-efficient, continuous process that eliminates the need for traditional mixing, centrifugation, and water accumulation. This innovation could enhance biodiesel production, which currently stands at 2.63 billion gallons annually in the U.S., with additional plants in development. The company emphasizes its scalable solutions for both biodiesel and lithium extraction.
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