Barrel Energy Inc. (the “Company” or “Barrel”) (OTC: BRRL) has announced an update on the company’s recent activities: Barrel energy to provide tech space for lithium battery recycling.
The CEO of Barrel Energy Mr. Craig Alford is also assisting Altair International Corp. (ATAO: OTC) to develop ATAO’s prized lithium/rare earth and gold assets in Nevada. Mr. Alford was the founder of American Battery Metals Corp. (ABML:OTCQB). The Chairman of Barrel Energy, Mr. Harp Sangha and Mr. Alford are the founders of Lithium Now.
Barrel Energy is aware that most analysts see an upcoming bull market for Lithium and other battery raw materials to feed the surging Lithium-ion battery supply chain and has made this is a strategic focus for the company.
Global demand for these key battery materials is expected to rise dramatically over this decade. The outlook for Lithium will outstrip production with global demand for Lithium expected to increase 650% by 2027.
Market demand for Lithium has been predicted to be a staggering 470,000mt by 2025. Each 1% increase in new global Electric Vehicles sales could further increase Lithium demand by 70,000mt, nearly representing the total of last year’s annual production of Lithium.
Barrel has recently been in discussions with St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) (“St-Georges”) a Canadian public company engaged in the development of new Lithium extraction technologies regarding several sites for their Lithium processing technology centers within the southwest U.S.
Barrel is considering location sites with a specific eye toward cost efficiency and process permitting. Access to infrastructure, sufficient power, transport and nearby source material and demand are all factors for project viability.
Their lead development site is situated on a roughly 30 acre property that is now zoned for industrial activities located in Nevada just 18.5 miles from the Tesla Gigafactory.
Barrel Energy to Provide Tech Space for Lithium Battery Recycling, Las Vegas, January 28, 2021
