Barrel Energy Inc. (the “Company” or “Barrel”) (OTC: BRLL) announced it has signed an Memorandum of Understanding to enter a partnership with American Lithium Minerals, Inc (“AMLM”) (OTC:AMLM) for battery production facilities North America.
As previously announced, on February 10th 2021, Barrel signed an exclusive agreement with Roshan Energy Technologies (“Roshan”) that will allow for Barrel to become the majority stakeholder in Roshan and the expansion of its Lithium battery facilities in India.
Roshan has developed an impressive line of Lithium Battery products for Electric Vehicles, Medical Equipment, Solar street lighting, the telecom industry as well as home energy storage solutions. Barrel and Roshan first plan to make a sizeable impact on the escalating small vehicle EV market in India, a country that has made ambitious policies towards the change to EVs. Roshan has already signed contracts to supply an assortment of manufacturers of two and three wheeled EVs.
Additionally, the Barrel-Rosha agreement allows for Barrel to establish a U.S. based manufacturing unit for key Roshan lithium battery products and designs. The Barrel and AMLM MOU is designed to allow Barrel to have a its first base for entry into U.S. based manufacturing and use new selective recycling technologies developed by Roshan team that offer both crucial waste-management and battery metal supply solutions.
The non-exclusive agreement between Barrel Energy and American Lithium Minerals calls for Lithium battery products to be pilot tested, manufactured and even recycled at one or more its industrial complexes. The technology, operations and products will be provided by Barrel through its agreement with Roshan Energy, as well as any technology sourced by AMLM.
The proposed first location by AMLM is within the heartland of U.S. manufacturing with nearby high population density, sufficient power, square footage and accessibility by rail, road, and water.
About American Lithium Minerals (OTC Markets AMLM) is engaged in mineral exploration for lithium and rare earth minerals (REE) in the southwest U.S and are active in Lithium Complexes, to intended to process high-grade lithium ore, assemble lithium-ion batteries and recycle spent lithium-ion batteries.
About Barrel: Barrel Energy Inc., (OTC Markets: BRLL) is focused on several ventures within the energy and minerals sector and the rapid development of valuable production opportunities throughout North America.
BARREL ENERGY SIGNS MOU WITH AMERICAN LITHIUM MINERALS, Las Vegas, Nevada, March 4th, 2021
