Company Profile of Lithium and Boron Technology

Jan 7, 2022 | ADVANCED ENERGY, Company Profiles, Efficient Power Sources

Lithium and Boron Technology Inc

Lithium and Boron Technology, Inc., previously known as SmartHeat Inc, is a significant producer of boric acid and a manufacturer of lithium carbonate in the PRC. It has a revenue of around $7.57M. The company exclusively sources ore and brine from Dachaidan Lake and the surrounding areas.

Lithium and Boron Technology

Lithium and Boron Technology – mining for Lithium Carbonate

Lithium and Boron Technology Inc and its New Venture

In November 2021, the company announced a breakthrough in lithium carbonate extraction technology, extracting mineral-rich brine water from the Dachaidan Salt Lake in XaiXai Province, China. Its strategy is expanding manufacturing facilities to produce lithium carbonate for the growing Chinese electric vehicle (“EV”) market and the energy storage battery market.

About Lithium and Boron Technology, Inc

Lithium and Boron Technology, Inc is a boric acid manufacturing organization in the People’s Republic of China. Their primary strategy deals with expanding the existing boric acid manufacturing facilities. The organization produces boric acid and is involved in the sales of the related products. They primarily sell their boric acid to industrial and consumer applications in the PRC. The company aims to produce lithium hydroxide and lithium carbonate for the battery market in China. Its purpose is to handle the rapid growth of electric vehicle manufacturing departments.

Previously known as SmartHeat Inc, the company was renamed Lithium and Boron Technology, Inc. Originally, the company was founded by James Jun Wang and Wen-Bin Lin in 1954 and is based out of XaiXI, the People’s Republic of China. Jimin Zhang is the current Chairperson and CEO of the company.

The organization was registered in 2018, 18th December, and was established on the same date. Initially, it was Qinghai Zhongtian Boron and Lithium Mining Co., Ltd. The exact location is in Dachaidan Town, Qaidam Basin, Haixi Prefecture, Qinghai Province. Lithium and Boron Technology, Inc focuses on the overall development and utilization of salt late resources. They are deeply into product research and development. The China-based company is a resource-based enterprise that involves itself in deep processing. They focus on industrial salt production and sales.

They lead in the electric vehicle battery market through their subsidiary. It operates for the boric acid manufacturing facilities and produces the necessary lithium carbonate for the EV market. Lithium and Boron Technology Inc is based out of China and operates.

The company has a definitive advantage in the form of resources. Hence, their production cost is comparatively low. And this ensures that the products are competitive enough in the market. The organization is one of the top boric acid manufacturers domestically. And this feat is achieved after years of research and development.

“Integrity, innovation, and quality” is the company’s underlying principle. They follow this business philosophy to the “T,”, especially in their development process. The organization has put forward a good product image with unmistakable product quality. They also offer excellent after-sales service to catch up with the customer needs to the maximum extent.

Mining Rights

From the statistics, we can understand that the company ranks at the top position among the national boric-acid producers who use the one-step method. It is based on the data from the Boron Chemical Branch of China’s Inorganic Salt Industry.

Have you heard that Large Dachaidan Salt Lake is a solid lake mineral deposition? It has boron, boron-rich, lithium, magnesium, potassium, and the coexistence of different deposits. We can call it a chemical deposition mineral lake at large. The composition of the liquid mine includes the surface lake water mine and intercrystalline brine mine. Sodium, potassium, magnesium, boron, and lithium are precious resources from the runny mine.

Lithium and Boron Technology Inc has existing mining rights of 36 sq km. They finally got it after ten years of unremitting efforts. They currently run a production house in western Qinghai. And they produce boron industrial products.

Lithium Carbonate China

Lithium Carbonate China – Source: Baidu

The Lithium Carbonate Project for Electric Vehicles Market

Recently, they made a joint venture with Xi’an Jinzang Membrane Environmental Protection Technology Co., Ltd (Xi’an Lithium Tech). The latter will support Lithium and Boron Technology with the right resources to manufacture battery-grade lithium hydroxide and lithium carbonate.

The Chairman of LBTI, Mr. Jimin Zhang, recently appointed, stated, “We use a proprietary sorbent process technology that has revolutionized the traditional methods of lithium extracting which we believe to be one of the most effective in the world.” This process allows the company to extract lithium carbonate efficiently in an eco-friendly manner using a modularized method that is simplified, miniaturized, and simplified. The production costs are approximately $3,125/tonne. This should allow them to produce lithium carbonate industrial batteries. The company has higher profits than other electric vehicle batteries and energy storage battery batteries producers.

[image: electric vehicles]

The Future for LBTI

One of the most precious metals on Earth, lithium has many uses. Today, lithium-ion batteries power cell phones, laptops, and electric cars. As technology improves, the demand for lithium will continue to rise. Moreover, boron provides a new source of fuel. Hydrogen Boron Fusion Energy aims to create a clean, safe, and reliable energy source by fusing hydrogen and boron-11.

Zhang said, “We plan to increase our production capacity to an annual output of 20,000 tonnes of lithium carbonate over the next two years.” Trading Economics reported that the Chinese price of lithium carbonate rose from 33,843 to 194,000 Yuan per tonne, an increase of approximately 57% due to the tight supply and growing market demand. The trend is expected to continue for the next five years.

Given global shifts from gas-guzzling combustion engines to new EV cars and the growth in lithium energy storage batteries, it is evident that Lithium Boron Technology will have a very bright future.

Lithium and Boron Technology Inc places itself in the present and aims at the future. They plan to enhance domestic and markets abroad with excellent resources. The production expertise and resource advantages should help to pull through. The organization wants to expand into the global market to become a world-class boric acid brand.