Lithium Harvest Signs LOI for a Large-Scale Geothermal Power and Lithium Project in Alberta, Canada
The proposed development requires resource and process validation, approvals and construction financing before production can begin.
Sentiment and the balance of points
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Rhea-AI Summary
Lithium Harvest (SPGX) signed a letter of intent with a geothermal development partner for a proposed integrated power and lithium joint venture.
The planned Alberta, Canada facility targets approximately 28,500 tonnes of lithium carbonate and 0.67 TWh of renewable electricity annually at full nameplate capacity. Development is planned in two phases, with first power generation and lithium carbonate production targeted for 2028. The design uses geothermal heat for power and geothermal brine for lithium extraction and refining.
The partners plan to finalize joint venture arrangements, validate the resource and lithium process, advance engineering and permitting, and secure construction financing. Production remains subject to validation, approvals, financing, construction and commissioning. Lithium Harvest plans to update its financial model and investment materials for the proposed development.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThe signed letter of intent advances a planned geothermal power and lithium project in Alberta.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Full-capacity lithium carbonate production targets approximately 28,500 tonnes annually.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Full-capacity renewable electricity generation targets approximately 0.67 TWh annually.
- Minor point. Forward-looking: it has not happened yet and may not happen.First power generation and lithium carbonate production are targeted for 2028.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned two-phase development allows capital to be deployed progressively.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.The proposed joint venture still requires finalized arrangements and an integrated development plan.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Production depends on successful geothermal resource and lithium process validation.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Required approvals and project financing remain conditions for reaching production.
- Minor point. Forward-looking: it has not happened yet and may not happen.Production also remains subject to successful construction and commissioning.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Project targets 0.67 TWh of electricity and 28,500 tonnes of lithium carbonate annually at full nameplate capacity, with first production targeted for 2028.
AALBORG,
At full nameplate capacity, the planned facility targets approximately:
- 28,500 tonnes of lithium carbonate annually
- 0.67 TWh of renewable electricity annually
The planned project will generate revenue from renewable baseload electricity and lithium carbonate produced from the same geothermal resource, expanding Lithium Harvest's North American development portfolio.
Development is planned in two phases, with full nameplate capacity reached through phased construction and production ramp-up.
"This agreement advances our ambition to produce some of the world's cleanest energy and lithium at low cost," said Sune Mathiesen, Chairman of Lithium Harvest. "The rapid buildout of data centers and the energy transition in general require large amounts of reliable power as well as lithium for EV's and battery storage. Once completed, this will be one of the largest facilities of its kind in the world."
"Our focus now is on the resource validation, engineering and financing needed to turn the project's potential into commercial production."
Integrated Geothermal Power and Lithium Production
The geothermal development partner will contribute its geothermal development capabilities, while Lithium Harvest will contribute its integrated brine-to-battery-grade lithium platform, combining water treatment, proprietary Direct Lithium Extraction (DLE) technology, and refining designed to produce battery-grade lithium carbonate. The integrated design will use geothermal heat for power generation and geothermal brine as the feedstock for lithium extraction and refining.
The project is designed to serve two markets: responsible and reliable electricity and battery materials. Combining the production streams is intended to improve resource utilization, while phased development will allow capital to be deployed progressively. The project also has the potential to strengthen domestic lithium supply and dramatically diversify the North American lithium supply chain.
Based on current project estimates, operation at full nameplate capacity could avoid up to 933,000 tonnes of CO₂ emissions annually. Actual reductions will depend on the final design, operating performance, electricity displacement, and reference scenarios used for comparison.
Project Targets
|
Project Parameter |
Current Target |
|
Project location |
|
|
Development approach |
Two phases |
|
First power generation |
2028 |
|
First lithium carbonate production |
2028 |
|
Full nameplate power generation |
0.67 TWh/year |
|
Full nameplate lithium carbonate production |
28,500 tonnes/year |
Next Steps
The partners plan to advance the proposed joint venture through the following workstreams:
- Finalize joint venture arrangements and the integrated development plan.
- Confirm geothermal resource and lithium process performance through evaluation and technical validation.
- Advance engineering, permitting and commercial arrangements.
- Secure the project financing required for construction.
Lithium Harvest plans to update its financial model, investor presentation and investment memorandum to reflect the proposed development, including production assumptions, phased capital requirements and project economics. Progress toward production remains subject to successful completion of the required validation, approvals, financing, construction, and commissioning.
About Lithium Harvest Holding A/S
Lithium Harvest Holding A/S develops lithium projects from oil & gas produced water and geothermal brines using proprietary Direct Lithium Extraction technology integrated with water treatment and refining. Through its lithium portfolio and integrated geothermal developments, the company aims to produce some of the world's cleanest energy and lithium.
Explore our projects and lithium production platform at lithiumharvest.com.
Follow Lithium Harvest on LinkedIn for company news, project updates, and insights into lithium production.
Forward-Looking Statements
This press release contains forward-looking statements concerning the proposed joint venture and the development, timing, capacity, commercial benefits, and environmental performance of the proposed project. These include two-phase development, first power and lithium production targeted for 2028, full nameplate annual output of approximately 0.67 TWh of electricity and 28,500 tonnes of lithium carbonate, potential annual CO₂ emissions reductions of up to 933,000 tonnes, and planned investor updates.
These statements are based on current plans, estimates and assumptions and are subject to risks and uncertainties, including resource performance, technical validation, engineering, permitting, financing, definitive commercial arrangements, construction and commissioning. There can be no assurance that the proposed joint venture will be formed, that the project will be built, or that the anticipated schedule, capacity, production levels or emissions reductions will be achieved. Actual results and timing may differ materially from those expressed or implied.
Investor and Media Contact
Lithium Harvest Holding A/S
Sune Mathiesen, Chairman
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View original content:https://www.prnewswire.com/news-releases/lithium-harvest-signs-loi-for-a-large-scale-geothermal-power-and-lithium-project-in-alberta-canada-302907037.html
SOURCE Lithium Harvest Holding A/S
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What production capacity does Lithium Harvest target for its Alberta geothermal project?
The planned facility targets approximately 28,500 tonnes of lithium carbonate annually and 0.67 TWh of renewable electricity annually at full nameplate capacity. Development is planned in two phases, with capacity reached through phased construction and production ramp-up.
When does Lithium Harvest target first production at its Alberta project?
First power generation and first lithium carbonate production are both targeted for 2028. Progress toward production remains subject to successful validation, approvals, financing, construction and commissioning.
What will each partner contribute to Lithium Harvest's proposed Alberta joint venture?
The geothermal development partner will contribute geothermal development capabilities, while Lithium Harvest will contribute its integrated lithium production platform. That platform combines water treatment, proprietary direct lithium extraction technology, which extracts lithium from brine, and refining designed to produce battery-grade lithium carbonate.