Elektros to Utilize Lithium Supply for Advanced Energy Storage Systems for Critical Infrastructure

Rhea-AI Summary

Elektros (OTC PINK:ELEK) has announced plans to utilize lithium from its Sierra Leone mine to develop advanced backup energy storage systems for the South Florida market. The company will explore joint ventures for manufacturing high-capacity battery systems targeting critical infrastructure, including data centers, emergency services, and residential applications.

Key market insights include UPS systems dominating 52% of the market in 2023, and projections for the data center battery market to reach $3.5 billion by 2033. The company expects to receive its first shipments of raw lithium aggregate from Africa to US by early Q1 2025.

Additionally, Elektros plans to host investor networking events across South Florida, focusing on AI infrastructure, renewable energy solutions, and smart city technologies.

Positive

• Access to raw lithium supply from Sierra Leone mine
• Expansion into high-growth energy storage market
• Strategic focus on critical infrastructure applications
• First lithium shipments expected Q1 2025

Negative

• No current revenue from energy storage systems
• Pending execution of manufacturing partnerships
• Early stage of market entry with unproven track record

SUNNY ISLES BEACH, FL / ACCESSWIRE / December 10, 2024 / Elektros (OTC PINK:ELEK), a leader in electric mobility and lithium mining, announced plans to leverage its Sierra Leone lithium supply to develop advanced backup energy products targeting the South Florida market, positioning the company to capitalize on emerging energy storage opportunities.

Utilizing lithium from its Sierra Leone mine, Elektros will explore joint ventures for manufacturing high-capacity battery systems for critical infrastructure, including data centers, emergency services, and residential applications. This strategic initiative aligns with key market trends:

• Uninterruptible Power Supply (UPS) systems dominated 52% of the market in 2023

• Data center battery market projected to reach $3.5 billion by 2033

• Lithium-ion batteries offer high energy density (200-300 Wh/kg) and extended lifespan (300-500 charge cycles)

The expansion represents a significant opportunity for Elektros to diversify its battery technology portfolio and establish a strong presence in the rapidly growing South Florida energy storage market.

The Company anticipates the first shipments of raw Lithium aggregate from Africa to US by early Q1 2025.

South Florida Events

Elektros will announce a series of high-profile investor networking events across South Florida, showcasing the region's transformation into a premier hub for AI infrastructure, renewable energy solutions, and smart city technologies. The upcoming events will feature industry leaders, local government officials, and technology partners, highlighting investment opportunities in data center development and sustainable energy infrastructure that are reshaping South Florida's digital landscape.

To stay informed about these exclusive networking events, interested parties are invited to join our Elektros Investor Network at https://elektros.energy/investors/

About Elektros, Inc.

Elektros (OTC PINK:ELEK) is a vertically integrated sustainable energy company focused on lithium mining, electric vehicle charging, solar energy storage, and power supply for AI data centers. We are at the forefront of the clean energy transition, driving innovation in mobility and energy technologies to combat the global climate crisis and deliver transformative user experiences. www.elektros.energy

Follow of Facebook: https://www.facebook.com/Elektrosenergy

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.'s products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.'s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Elektros, Inc. IR and Media Inquiries
Email: ElektrosInc@gmail.com

SOURCE: Elektros, Inc.

View the original press release on accesswire.com

FAQ

What is Elektros (ELEK) planning to do with its Sierra Leone lithium supply?

Elektros plans to use its Sierra Leone lithium supply to develop advanced backup energy storage systems for critical infrastructure in the South Florida market, including data centers, emergency services, and residential applications.

When will Elektros (ELEK) receive its first lithium shipments from Africa?

Elektros expects to receive its first shipments of raw lithium aggregate from Africa to the US by early Q1 2025.

What is the projected market size for data center batteries according to Elektros (ELEK)?

According to the press release, the data center battery market is projected to reach $3.5 billion by 2033.

What percentage of the market did UPS systems dominate in 2023 according to Elektros (ELEK)?

According to the press release, Uninterruptible Power Supply (UPS) systems dominated 52% of the market in 2023.