Rod Colwell at the Hell’s Kitchen Lithium and Power project site (source: CTR)
In this interview with Rod Colwell, CEO of Controlled Thermal Resources we talk about the status of his company's project that plans to derive Lithium from geothermal brine and produce geothermal power at the Salton Sea in California.
In the coming weeks, we will be checking in with colleagues in the geothermal world on how they are progressing with their development plans, their activities and how they are dealing with the current challenges at hand. So we are quite proud starting this series with an interview with Rod Colwell, CEO of Controlled Thermal Resources, an exciting company developing a project that will produce Lithium from geothermal brines in the Salton Sea in California.
These are challenging times for everyone in the geothermal sector and naturally also for developers like Controlled Thermal Resources. How have you been adapting and engaging with project partners?
The pandemic has been challenging for everyone, particularly when it comes to travel & sites visits. That aside, CTR is in active discussions with various potential project partners that bring value to the development beyond equity-only investment. We expect to have an announcement in that regard in the not too distant future.
How are you progressing with your project on site in the Salton Sea? Have you been able to do on the ground-work despite the various covid-19 security measures?
We have managed to complete some minor earthwork in preparation for our delineation drilling and lithium programs. CTR has been fully staffed throughout the pandemic and have actually added to our team with new appointments to make sure we can meet our offtake obligations.
Are there certain positive elements under the circ*mstances right now?
Yes, I believe we are in the midst of a shift in mindset for the better. In a positive way, the pandemic has allowed people to witness the best air quality in 80+ years due primarily to less traffic on the roads. Given this temporary period of cleaner air, people can more easily see the advantages of electric vehicles and cleanly produced electricity as opposed to the continued use of fossil fuels, therefore the importance of renewable energy. We have also witnessed some of the largest fund managers begin to develop mandates around clean air and sustainable investments.
We have seen an incredible interest in the story of Lithium in the context of geothermal. How are you experiencing this increased interest and how is this effecting your planned project?
We have seen an enormous level of interest in lithium products with high sustainability credentials. Beside the forecasted shortage of battery-grade lithium products looming ahead, many aspects in the supply chain are being reconsidered namely; political risk, environmentally sustainable sourcing, and reliability and quality of the overall supply chain. We expect to commence commercial operation of our first project in 2023 delivering both renewable energy and battery-grade lithium carbonate equivalent products.
With efforts on Lithium extraction ranging from Germany to Cornwall in the UK, naturally California is a rather hot market. With the support of the California Energy Commission, there has been some funding made available to companies in the Salton Sea, yours included. How does this funding help in your efforts in moving your project forward?
First of all, the CTR lithium extraction process technology is ready to go. However, the funding helps immensely in furthering these technologies regarding silica, zinc and manganese. These materials and others are in abundance in the Salton Sea geothermal brine and have significant value in their respective industries. We expect to realize commercial benefit from this work in the not-so-distant future that we can apply to our systems. The technology that CTR will utilize to extract lithium, ion exchange, has been in use commercially for decades and is a very proven and robust technology, but we want to do more especially given the additional materials in our brine resource. These materials have the potential to add significant commercial value to our long-term goals, thus the desire to continue development. Beyond grant funding, the California government via its Department of Natural Resources and the California Energy Commission, is actively driving the establishment of a “Lithium Valley” in Imperial County starting with the Salton Sea geothermal field extraction of lithium; and hopefully adding links to that part of the supply chain with cathode manufacturing and perhaps actual battery assembly. The California State Senate Committee on Energy, Utilities, and Communications just voted to approve Assemblymember Eduardo Garcia’s AB 1657–Blue Ribbon Commissionon Lithium Extraction in California
– As reported in the Desert Review: https://www.thedesertreview.com/news/state-senate-energy-committee-approves-lithium-commission-helping-valley-move-closer-to-lithium-opportunities/article_3b440a8e-dcbf-11ea-be54-a7fe5f2326d9.html
There is increasing interest in oil and gas sector players in geothermal. Have you seen some impact on this for your project?
As mentioned, we are in discussions with various potential project partners, some of which are “Big Oil”. We see many complementary technologies and skillsets in the oil & gas industry that may apply favorably to work developing the Salton Sea geothermal field. As we scale up to 1,100MW of renewable power and 300,000 tonnes per annum of battery-grade lithium products, and potentially additional extracted products, we think the complementary technologies and skillsets will help us further reduce cost. The old adage, “continue to develop or get left behind” applies here just as it does elsewhere, perhaps even more.
We thank Rod for taking the time answering our questions and will naturally closely follow advancements and report accordingly.
FAQs
Rod is a seasoned corporate executive specializing in property, geothermal, and minerals commercial development. Rod combines twenty-five years of experience in the property and energy sectors to lead the development of CTR's direct lithium extraction and geothermal projects in Imperial Valley, California, USA.
Who will mine lithium in Salton Sea? ›
Three companies — Berkshire Hathaway Renewables, Controlled Thermal Resources and EnergySource — are racing for the chance to mine the increasingly valuable material from the sea's brine.
Who owns controlled thermal resources? ›
Rod Colwell, CEO of Controlled Thermal Resources (CTR), has a vision that goes far beyond the “l*thium Valley” rush that has been touted as the economic savior of a remote patch of southern California near the border with Mexico.
Who owns Salton Sea? ›
Who owns the Salton Sea? The land under the Salton Sea is owned almost entirely by three entities. The largest is the Federal Government. The Bureau of Reclamation and the Bureau of Land Management under the Department of the Interior own the lions share.
Where is controlled thermal resources headquarters? ›
The company was established in 2013 and has headquarters in Imperial Valley, California, USA and Brisbane, Australia.
Is Controlled Thermal Resources a publicly traded company? ›
Controlled Thermal Resources Ltd. (CTR) is a public unlisted lithium resource and renewable energy company, developing the Hell's Kitchen lithium and power project in Imperial Valley, California.
Who owns the largest lithium mine in America? ›
The mine is a project of Lithium Nevada, LLC - a wholly owned subsidiary of Lithium Americas Corp, whose largest shareholder is the world's largest lithium mining company, Chinese Ganfeng Lithium.
...
Thacker Pass Lithium Mine.
| Location |
|---|
| Thacker Pass Lithium |
| Nevada |
| Country | United States |
| Coordinates | 41°42′30.25″N 118°03′17.12″W |
9 more rowsAustralia alone produces 52% of the world's lithium. Unlike Chile, where lithium is extracted from brines, Australian lithium comes from hard-rock mines for the mineral spodumene. China, the third-largest producer, has a strong foothold in the lithium supply chain.
What is the number 1 lithium mining company? ›
With a global presence of over 5,000 employees in 100 countries, Albemarle has become the largest supplier of lithium for electric vehicle batteries as of 2020. Albemarle's notable projects include owning lithium brine operations in Clayton Valley, located near Silver Peak in the US, and the Salar de Atacama in Chile.
Who owns COSO geothermal? ›
The project was developed by CalEnergy Generation Operating and is currently owned by Atlantica Sustainable Infrastructure.
The Commission manages seven geothermal leases that span roughly 7,249 acres of land where the State owns 100 percent of the mineral interest, and two separate parcels (called agreements) totaling 896 acres where the State holds a 1/16th mineral interest.
Where is lithium Valley in California? ›
Imperial Valley has a new nickname these days: Lithium Valley. Or as California Gov. Gavin Newsom likes to call it, “the Saudi Arabia of lithium.” The monikers are a nod to vast reserves of the white-hot mineral deep below the Earth's surface in California's hot, southeast corner, near the Salton Sea.
What company is drilling for lithium in California? ›
EnergySource Minerals is building its first lithium processing facility next to the John Featherstone geothermal plant, near Niland, California.
What is the world's largest lithium company? ›
Albemarle Corp.
Albemarle is the biggest company on the list and the world's largest lithium producer. Albemarle operates the only active lithium mine in the U.S., located in Silver Peak, Nevada.
Where is the biggest lithium deposit in the world? ›
Where is lithium available from? With 8 million tons, Chile has the world's largest known lithium reserves. This puts the South American country ahead of Australia (2.7 million tons), Argentina (2 million tons) and China (1 million tons). Within Europe, Portugal has smaller quantities of the valuable raw material.
Who are the competitors of controlled thermal resources? ›
Controlled Thermal Resources top competitors include: Ashlawn Energy LLC, Tennessee Solar Energy Association, Key Capture Energy Inc, Sol Electrica Inc What technology does Controlled Thermal Resources use?
Where is Hell's Kitchen Controlled Thermal Resources? ›
A world-renowned resource in a secure US location. CTR's project is located on the south-east shore of the Salton Sea, in the Salton Sea Geothermal Field, located in Imperial County, California.
Who does thermal energy work? ›
Thermal energy (also called heat energy) is produced when a rise in temperature causes atoms and molecules to move faster and collide with each other. The energy that comes from the temperature of the heated substance is called thermal energy.
Are there any publicly traded geothermal companies? ›
Best Geothermal Stocks To Buy
- Ormat Technologies, Inc. (NYSE:ORA)
- Eversource Energy (NYSE:ES)
- Chevron Corporation (NYSE:CVX)
Lilac Solutions is a private company and not publicly traded. If you are interested in buying or selling private company shares, you can register with Forge today for free to explore your options.
Primary energy sources take many forms, including nuclear energy, fossil energy -- like oil, coal and natural gas -- and renewable sources like wind, solar, geothermal and hydropower.
Who supplies Tesla with lithium? ›
Tesla Lithium Supplier Albemarle Gave Amazing Guidance.
Who is the richest in lithium? ›
Lithium is a soft, silver-white metal within the alkali metal group on the periodic table. In nature, lithium occurs only in compounds due to its high reactivity. Chile has the largest lithium reserves worldwide by a large margin. Australia comes in second, with reserves estimated at 6.2 million metric tons in 2022.
Who is buying lithium Americas? ›
General Motors Investment Details
On Jan. 31, 2023, Lithium Americas announced a purchase agreement with General Motors Co. (NYSE: GM).
Where does the US get most of its lithium? ›
The US gets most of its lithium-ion batteries from China, and also sources large volumes from South Korea and Japan. But there is a huge, unregulated market for battery packs in the US, which poses a challenge to regulators and a threat to consumers.
Where is lithium found in the United States? ›
Lithium production moved overseas beginning in the 1970s, and now there is only one active mine left in the country, in Clayton Valley near Silver Peak, Nevada.
Is lithium mining worse than fossil fuels? ›
While the hazards of lithium mining can cause significant harm to the environment during its production, it is still more environmentally friendly than fossil fuels.
What is the largest lithium company in the US? ›
According to the lithium company, Thacker Pass holds “the largest known source of lithium in the United States and the third largest in the world.” Lithium Americas intends to separate into two entities by the end of 2023, US-focused Lithium Americas and Argentina-focused Lithium International.
What is the cheapest lithium stock? ›
- Cheap Lithium Stocks: Snow Lake Resources (LITM)
- Tearlach Resources (TELHF)
- Cheap Lithium Stocks: Ganfeng Lithium Group (GNENF)
- Pilbara Minerals (PILBF)
- Cheap Lithium Stocks: Lithium Americas (LAC)
- Mineral Resources (MALRF)
- Cheap Lithium Stocks: Noram Lithium (NRVTF)
While the world does have enough lithium to power the electric vehicle revolution, it's less a question of quantity, and more a question of accessibility. Earth has approximately 88 million tonnes of lithium, but only one-quarter is economically viable to mine as reserves.
Recently, it has invested in Dandelion Energy, a US company offering geothermal systems that can reduce carbon expense, and WeaveGrid, a company that develops electrification software to facilitate the adoption of electric vehicles.
What is the largest geothermal company in the US? ›
1. Calpine. Calpine is headquartered in Texas, U.S. It is America's largest electricity generator from natural gas and geothermal resources with strong industrial, commercial, and residential retail operations in prime competitive power markets.
Who are the top 3 producers of geothermal energy? ›
Here the Top 10 geothermal countries year-end 2021:
- United States* – 3,794 MW (updated our numbers as per the notes below)
- Indonesia – 2,356 MW – additions at Sorik Marapi, Sokoria and a small binary plant at Lahendong.
- Philippines – 1,935 MW – a small binary plant was added.
World's largest geothermal stations 2021. The largest geothermal plant in the world is called the Geysers Geothermal Complex, located in the United States, with a capacity of 900 megawatts. It is made up of 22 power plants and spread over several kilometers, located north of San Francisco.
What is the biggest geothermal energy company? ›
Calpine Corporation (www.calpine.com) is the world's largest producer of geothermal power and operates approximately 50 percent of the geothermal plant capacity in the United States.
Who is the largest producer of geothermal electricity? ›
The largest group of geothermal power plants in the world is located at The Geysers, a geothermal field in California, United States.
Who has the largest lithium reserves? ›
Countries With the Largest Lithium Reserves in the World
- Bolivia. Bolivia has the highest identified lithium resources in the world with 20 million tonnes, as per the US Geological Survey data. ...
- Argentina. ...
- United States. ...
- Chile. ...
- Australia. ...
- China. ...
- India. ...
- Germany.
The ingredient crucial to electric car batteries is found in the brine of an aquifer under the Salton Sea, a once-busy recreation spot that fell into decay because of toxic runoff.
Which US state has been called the lithium Valley? ›
California has a substantial lithium resource contained in mineral rich saline water that lies deep underground the Salton Sea area. Direct lithium extraction from geothermal brines is expected to create economic benefits for the state and region.
What three companies could you invest into that mine for lithium? ›
Best lithium stocks
| Asset | Ticker | 1-Year Return |
|---|
| Sigma Lithium Corporation | SGML | 135.67% |
| Energizer Holdings Inc. | ENR | 8.22% |
| EnerSys | ENS | 7.43% |
| Albemarle Corp. | ALB | 1.61% |
6 more rowsMar 28, 2023
Of that total, 2250 MW are currently developable, while the remaining 700 MW would become available as the Salton Sea (a saline lake) dries up. About 403 MW is generated by the existing power plants, ten of which are owned by CalEnergy and one by EnergySource.
What company produces infinite lithium? ›
Infinity Lithium Corp Ltd is a mineral development company. Its San Jose Lithium Project is located in the western Spanish region of Extremadura and is in proximity to the town of Caceres.
Does the US have any lithium mines? ›
An aerial view of the Silver Peak Lithium Mine in Silver Peak, Nevada. The facility is the U.S.' lone lithium producer. Much of that demand comes from the booming global EV market, with sales reaching historic levels last year and on track to do so again in 2022, according to the International Energy Agency.
Is lithium in demand in the US? ›
Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply, the report added.
Will we run out of lithium? ›
U.S. geological survey the world is getting better at mining battery metals including lithium. As of 2021, it was estimated that the world had 88 million tonnes of lithium resources.
Who is the CEO of thermal energy? ›
William Crossland - President & CEO - Thermal Energy International Inc.
Who is the CEO of Thermal Solutions? ›
Bob Potokar - Chief Executive Officer - Thermal Solutions Manufacturing Inc. LinkedIn.
Who is the CEO of Thermal Technologies? ›
David Hansinger - CEO - Thermal Technology, LLC | LinkedIn.
Who is the CEO of Thermal Solutions Manufacturing? ›
Matt Weinmann - CEO - Thermal Solutions Manufacturing | LinkedIn.
How much is thermal energy worth? ›
Concentrated Solar Power Market is valued at USD 4.71 Billion in the year 2021 and is expected to reach a value of USD 8.04 Billion by the year 2028.
...
Thermal Energy Storage (TES) Market Size Worth USD 450.1 Mn by 2028 | Vantage Market Research.
| Report Attributes | Details |
|---|
| Market Size in 2021 | USD 203.1 Million |
5 more rowsNov 7, 2022
Rachael Best - President - Thermal Engineering Corporation | LinkedIn.
Who is the founder of thermal? ›
Kaustuva Das is the Co-Founder & CEO at Thermal .
Who is the owner of Advanced Thermal Solutions and? ›
Kaveh Azar, Ph. D., is the president, CEO and founder of Advanced Thermal Solutions, Inc. (ATS), a leading engineering and manufacturing company focused on the thermal management of electronics.
Who is the CEO of Goodfellow Corp? ›
Simon Kenney -
Prior to becoming CEO in 2021, Simon was Sales Director at Goodfellow and was pivotal in the successful acquisition of Goodfellow by Battery Ventures in 2021.
Who is the CEO of Grayson Thermal Systems? ›
In 2010, new Managing Director Stuart Hateley took up post in place of his father Graham Hateley (Now Chairman of Grayson Thermal Systems).
Who owns Thermal Tech? ›
—March 13, 2023—ABC Supply Co., Inc., the largest wholesale distributor of roofing and other select exterior and interior building products in North America, has acquired the assets of Thermal Tech, Inc., a siding distribution business in Kalispell, Montana.
Who acquired Premier Thermal? ›
Aalberts N.V. has reached a definitive agreement to acquire 100% of the shares of Premier Thermal Solutions LLC (PT), based in Lansing (Michigan, USA).
Who is the CEO of Bluewater Thermal Solutions? ›
The CEO of Bluewater Thermal Solutions is Jeff Hemmer.
Who is the CEO of Alan Manufacturing Inc? ›
Richard Bluestone - President - ALAN Manufacturing, Inc.
Rod Colwell at the Hell’s Kitchen Lithium and Power project site (source: CTR)
Alexander Richter 19 Aug 2020 