Business Areas


Lithium Extraction

Introduction to Geolit Energy’s Lithium Extraction Business


Definition of Lithium

Lithium Extraction

Lithium is a silvery, soft, solid element with the lowest density among metals.
Lithium compounds are used in a variety of applications,
but are most often used in rechargeable batteries for
mobile phones, laptops, and electric vehicles.


Increase in Sales of Electric Vehicles

Electric vehicles (EVs) are showing steady growth due to the atmosphere where consumers value eco-friendly trends
and the accelerating development of related technologies. Electric vehicle sales are expected to account for about 24%
of the total automobile market in 2030, and surpass internal combustion engine vehicle sales at about 54% in 2040.

[Electric Vehicle Sales Growth Trend]

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Lithium Demand Increases

Demand for lithium is expected to increase rapidly due to the increase in demand for electric vehicles,
and it is predicted that lithium supply will be in short supply in 2030.
In addition, lithium is expected to continue to be used as a core material in next-generation battery technology,
and demand is expected to continue to increase.

[Outlook for Future Lithium Supply Shortages (Unit: million LCE*)]

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Major Lithium Production Areas and Reserves Worldwide

74% of global lithium production is located in Australia and Chile.
Australia has a lot of hard rock type deposits, and a large amount of spodumene exists in the west coast.
Chile has a lot of salt water type deposits and is known to have the highest quality of lithium compared to other countries.

[Comparison of lithium production by country in 2020]


Hard Rock Mine (Greenbushes, Australia)


Brine (Atacama, Chile)


Method For Extracting Lithium From Hard Rock Mines and Brine

There are two major methods of extracting and refining lithium,
mainly from hard rock mines (about 13%) and salt lakes (about 87%).
China uses the method of refining lithium carbonate from Australian spodumene concentrate (hard rock type),
and Chile uses the brine evaporation extraction method (salt water type).

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DLE (Direct Lithium Extraction)

DLE (Direct Lithium Extraction) is a technology that selectively extracts lithium from brine,
and has the advantage of achieving a higher recovery rate and shorter extraction time than conventional evaporation methods.
Representatively, there are Sorption, Solvent Extraction, and Ion Exchange methods.

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Sorption Solvent Extraction Ion Exchange
  • LiCI (lithium chloride) molecules are physically attached to the surface of a material such as resin, and washed with a stripping solution to extract lithium in the form of LiCI.
  • After forming a complex composed of the solvent itself and lithium in salt lakes using an organic solvent, lithium is extracted by converting it into lithium ions or molecules.
  • A method of adsorbing lithium to an ion-sieve while exchanging hydrogen or other metal cations of the ion-sieve with lithium using an ion-sieve in a solid state, and the adsorbed lithium is washed out with an acidic solution to extract
  • LiCl is extracted from the solvent using water rather than reagent
  • Deterioration is slow because no chemicals or acids are used
  • High-quality lithium can be produced
  • Capable of producing high concentrations of lithium
  • No additional salt lake concentration step required prior to the extraction process
  • High selectivity for lithium, high concentration of lithium can be extracted
  • Relatively little energy consumed
  • Eco-friendly because the ion body is not easily polluted
  • Easy to reuse
  • Can only be used in salt lakes over 40 degrees
  • Adsorbent cost is high
  • Brine can be contaminated
  • The LiCI concentration of the extracted eluate is lower than other extraction methods
  • Organic solvents themselves can contribute to environmental pollution
  • Risk of fire in high-temperature salt lakes
  • Requires large amounts of acidic or basic solutions
  • Some ionic bodies may undergo degradation under acidic conditions

Related Company, XtraLit


XtraLit is an Israeli-based company that holds a patent for the effective extraction of lithium from low-concentration brine.
Geolit Energy acquired a 29.88% stake in XtraLit on April 3, 2023 for an acquisition amount of approximately KRW 19.4 billion.


Dr. Simon Litsyn

  • XtraLit Co-founder and CEO
  • Professor Emeritus, Department of Electrical Engineering, Tel Aviv University
  • ARShow Co-founder and President
  • Tsofun Co-founder and Director
  • Sparkion Advisor

XtraLit's History

Year and Month The details
2019.10 Acquired the first patent (USA) for brine lithium extraction technology
2021.07 Established XtraLit company
2021.11 Acquired 2nd patent (USA) for brine lithium extraction technology
2021.11 Acquired $10 million capital increase (AG Consulting International LLC) through Round A
2022.03 Acquired 3rd patent (USA) for brine lithium extraction technology

XL-DLE : XtraLit Direct Lithium Extraction

It is a unique patented technology for direct extraction of lithium from low- and medium- concentration brine, a unique adsorbent
that can operate over a wide range of pH concentrations and has significant advantages over competing technologies in selectivity and durability.
→ Geolit Energy is targeting commercial production and sales of lithium in the country by securing an equity investment in XtraLit and proprietary DLE technology.

[Overview of the Extraction Process Flow for Lithium]

As shown in the figure below, lithium extraction from brine goes through the following steps:
Collection of Brine → Ion Exchange by Adsorption and Desorption → Extraction of Eluate→ Evaporation and Crystallization → Purification.

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Advantages of XL-DLE technology

  • Lithium supply can be greatly increased by extracting rare resources.
  • It reducesenvironmental pollution and CO2 emissions.
  • The space occupied by production equipment can be drastically reduced.
  • The extraction of lithium isindependent of climatic conditions.
  • While the lithium recovery rate of the evaporation extraction method is 40~50%,the lithium recovery rate of XL-DLE's Ion Exchange method is up to 95%.
  • It takes a relativelyshort period from exploration to production.

XL-DLE technology compared to other lithium extraction methods

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