LIT intends to leverage the afore-mentioned solutions to not only contribute to a more sustainable future, but also significantly contribute to the growth of the business. This portion of the market remains largely untapped by alternative solutions due to high costs of capital and operations of the next best competitive alternatives.
Presently the global community on a whole has committed to a massive shift from reliance on energy derived from what is considered conventional mediums such as fossil fuels, and it is to note that the world’s infrastructure has been based to accommodate such traditional media. Such a shift cannot be made briskly, and 2050 seems to be the date set to reach the carbon-zero emission target.
The below is a snapshot of where these markets currently sit and will be expanded upon in the individual outlines detailed below in later sections.
Inevitable shortage of Lithium: Lithium demand is just starting to ramp up as it is a critical material that will enable the use of more sustainable energies. Current demand is less than 500,000 MT at this point, but will grow to over 3,000,000 MT by 2030.
Increasing costs of basic materials: In 2021, metallurgical coal increased from circa USD$150 to USD$375 per MT (Metric Ton) and Thermal coal price has risen exponentially experiencing a 272% price increase to trading now just over USD$270 per MT.
Need for green Hydrogen: Green Hydrogen technology is seeing a renaissance in development due to demand in specific niche areas that is driving down cost of production to a point where it will soon sit in parity to the costs of fossil fuels it is looking to replace. Research has forecasted that only about 50% of the world’s energy and products can be supplied by electricity connected to renewable energy of a battery. It is believed that Green Hydrogen is the solution to provide the remaining 50%.