<div class="item"><div class="ll"><div class="txt"><h3 class="tit">Saudi’s Lithium Ambition</h3><div class="desc"><p><span style=";font-family:Calibri;font-size:15px">As a part of Saudi Vision 2030, EV supply chain built-out is of paramount importance to the nation to transition from a petroleum-based economy to a global leader in clean energy. Lucid Motors and CEER are projected to produce 500,000 EVs in Saudi Arabia by 2025-26, while capital investments across precursors manufacturing as well as upstream EV mining activities are being executed with utmost urgency and conviction.</span></p><p><span style=";font-family:Calibri;font-size:15px"><br/></span></p><p><span style=";font-family:Calibri;font-size:15px">As a spin-out from KAUST, LiHyTech has been repeatedly namechecked as a potentially integral missing piece of Saudi Arabia&#39;s grand clean energy transition jigsaw puzzle. Over the years LiHyTech has benefited from research funding, grants, research partnership and investment capital from various channels in Saudi Arabia. We are well positioned to play an integral role in Saudi Vision 2030 clean energy transition initiative.</span></p><p><br/></p></div></div></div><div class="rr"><p><br/></p><p><img src="/upload/image/2023-11/1701142959819736.png" alt="014.png" title="1701142959819736.png"/></p><p><br/></p></div></div><div class="item"><div class="txt"><h3 class="tit">Saudi Arabia: Oilfield Brine Processing</h3><div class="desc"><p><span style=";font-family:Calibri;font-size:15px">Saudi Aramco is the world’s largest publicly-listed company by market share and by far the largest producer and operator of oilfields. We have received oilfield brine samples from Saudi Aramco with discussions of further partnership and commercialization underway. </span></p><p><span style=";font-family:Calibri;font-size:15px">&nbsp;</span></p><p><span style=";font-family:Calibri;font-size:15px">An estimated annual production of 500,000 EVs starting 2025 could translate to a demand for 30,000 to 40,000 tonnes of LCE per year. Additional buildout of 60 GW of solar and wind power in Saudi Arabia by 2030 could add an additional 100,000 tonnes of LCE consumption in the form of energy storage. We expect to start discussion on lithium sales partnerships with various potential local offtakers, as we prepare to start ramping up DLE production in partnership with Aramco and satisfy all Saudi lithium demand by 2026-27.</span></p><p><span style=";font-family:Calibri;font-size:15px">&nbsp;</span></p><p><span style=";font-family:Calibri;font-size:15px">Once our first production module demonstrates operating viability, we intend to explore lease financing and asset-backed financing with local Saudi funding sources.</span></p></div></div><ul class="ul-picl1 list-paddingleft-2"><li><div class="con"><div class="pic"><img src="/upload/image/2023-11/1701009262183998.png" alt="015.png" title="1701009262183998.png"/></div></div></li><li><div class="con"><div class="pic"><img src="/upload/image/2023-11/1701009273557579.png" alt="016.png" title="1701009273557579.png"/></div></div></li><li><div class="con"><div class="pic"><img src="/upload/image/2023-11/1701009283767467.png" alt="017.png" title="1701009283767467.png"/></div></div></li></ul></div><div class="item"><div class="txt"><h3 class="tit">Saudi Arabia: Desalination Brine Processing</h3><div class="desc"><p><span style=";font-family:Calibri;font-size:15px">Desalination brine contains high concentrations of salts and chemicals that pose ecological threats when disposed of. Treatment and disposal of the leftover brine poses a major challenge and a substantial cost component for desalination plant operators.</span></p><br/><p style="text-align: center;"><img src="/upload/image/2023-11/1701139842231210.png" title="1701139842231210.png" alt="018.png"/></p><br/><p><span style=";font-family:Calibri;font-size:15px">With 7 out 10 largest desalination plants located in Saudi Arabia, PIF-owned Saline Water Conversion Corp (SWCC), the world’s largest producer of desalinated seawater with &gt;4 billion m</span><span style="font-size: 12px;">^{<span style="font-family: Calibri; vertical-align: super;">3</span>}</span><span style=";font-family:Calibri;font-size:15px">&nbsp;of brine produced each year, expects investments in brine mining to exceed US$2.1 billion by 2030.</span></p><p><span style=";font-family:Calibri;font-size:15px">&nbsp;</span></p><p><span style=";font-family:Calibri;font-size:15px">Our lithium extraction technology provides a desirable solution to sustainably harvest valuable commodities such as lithium, bromine, potassium, magnesium and calcium from desalination brine.</span></p><p><br/></p></div></div></div>