Following through on Previously Announced Annual Goals
Today, we are holding a mid-year update in New York City covering progress on our operational activities, commercial efforts, and market outlook.
In February, we provided KMX’s goals for the year ahead as part of a discussion with Evercore. Today, we are pleased to share positive updates on the progress of our three stated goals for the year.
As previously disclosed, these three goals are:
- Executing on our demos
- Expanding our commercial backlog
- Enhancing our technology
Executing on our Demos
We recently completed a laboratory demonstration utilizing our Generation III technology for a new client. We hope to provide details around this demonstration, including the industry, customer, and commercial implications in the coming months.
In addition to the exciting commercial opportunity, the demonstration yielded breakthrough results, in the view of our technical team.
With this demonstration complete, our technical team is now preparing for a lithium focused trial with one of our publicly announced customers, also utilizing our Generation III technology.
Importantly, as we expand our customer base in-concert with increasing laboratory utilization, we are providing ample opportunities to grow and diversify our long-term commercial backlog.
We look forward to hopefully providing additional details around our demos in the coming months, including the one that was recently completed.
Expanding our Commercial Backlog
Our commercial momentum, driven by Alexander de Vogel, Head of Commercialization, continues to build. We recently announced an MOU with CleanTech Lithium, providing a commercial framework for their potential incorporation of two commercial-scale KMX systems for their two projects in Chile.
Additionally, we are pleased to be holding new exciting and encouraging commercial conversations with thoughtful project developers that range in scale, region, and industry focus.
Our core commercial focus remains the rapidly growing lithium market, however, we are interested in various opportunities outside lithium which could involve commercial arrangements other than our primary long-term lease business model, including licensing agreements, joint ventures, and other opportunities.
Enhancing our Technology
While our technical team is highly focused on preparing for and executing customer demonstrations, they are also continually expanding our IP portfolio.
We are pleased to announce that we recently enhanced our IP portfolio, with a focus on lithium. Dr. Sean Ghayeni, our Head of Technology, is leading efforts to continually increase the various competitive advantages of our unique technology.
In addition to the recent enhancement, we hope to make further enhancements to our IP portfolio in the second half of the year, with a focus on both broad and narrow aspects of our technology and its application.
While continually improving the efficiency, reliability and economics of our Generation III membranes, the technology and operations team is also focused on broader system level improvements. To this extent, we are working with our manufacturing partners and evaluating new potential partners.
We intend to provide an update following our upcoming Mississauga Technology Tour, and also expect to release a technology focused update in the second half of the year.
We still expect to discuss the growing opportunity to utilize our technology in the oil & gas industry, as wastewater that is a byproduct of oil & gas production contains valuable critical minerals, including lithium. We also intend on sharing feedback from the various upcoming events management is participating in this summer.
We are excited about our unfolding momentum and the growing opportunity presented by our unique technology. We look forward to providing you additional updates as more milestones are hopefully met!