USA, California:

Lithium Plans in Doubt as Simbol Materials Fires Dozens (The Desert Sun)

Simbol Materials has spent years developing technology to extract lithium from geothermal brine, a leftover of geothermal energy production by the Salton Sea. That technology, experts have said, could provide a valuable source of lithium for Tesla and other electric automakers. It could also help incentivize new geothermal development, long seen as critical for funding the restoration of the shrinking Salton Sea.

As recently as last month, Simbol officials said the company was preparing to build a full-scale lithium-extraction plant, with plans to hire 400 workers during construction. But the company suddenly fired nearly 40 people from its demonstration plant in Calipatria last week, leaving just a handful of employees who are scrambling to find new sources of funding.

Dave Watson, the chief executive of EnergySource which operates the Featherstone geothermal plant in Calipatria that has provided the geothermal brine that Simbol has used to test its lithium-extraction process, said the companies have negotiated an agreement that would allow Simbol to use much larger quantities of that brine at its full-scale extraction plant. But even though the companies settled on terms last year, Watson said he hasn't heard from Simbol since December.

Simbol says that it is now seeking investors to help it commercialize its lithium production. However, EnergySource, the provider of its brines, says that it will take a different management team to realize the potential of Simbol’s lithium extraction process.

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