Barrel Energy Inc. (OTC: BRLL) is also pleased to announce it has signed a Memorandum of Understanding to enter a partnership with American Lithium Minerals, Inc (OTC: AMLM) for production facilities in North America.
Multi-Venture Company Forced on Green Energy Tech Projects.
Business Plans with Lithium-Ion Battery Tech for Electric Vehicles.
Experienced Management Open to Joint Collaborative Efforts.
New Technology Center in Nevada for Research & Development.
Exploring Options for Lithium-Ion Battery Recycling.
Barrel Energy, Inc. (BRLL) is focused on several ventures within the energy and minerals sector as well as the rapid development of valuable production opportunities throughout North America. Current BRLL projects are focused on the Lithium-ion battery business which is increasingly important for the rapidly emerging Electric Vehicle market to support new green energy initiatives.
MOU Signed for Lithium Battery Production in India and North America
On February 10thBRLL announced a signed a Memorandum of Understanding (MOU) to enter a partnership with Roshan Energy Technologies Pvt. Ltd (“Roshan”), located in Hyderabad, India, for Lithium Battery development and production in India and North America.
As part of the venture, BRLL will become a majority stakeholder in Roshan allowing BRLL the platform for expansion into the massive India market and into international markets. Roshan and Barrel plan on establishing a U.S. based manufacturing unit for key battery designs within Roshan’s line of Lithium products.
A joint R&D division will be developed in conjunction with BRLL as part of the partnership. Roshan’s Ashok Shukla, a professor emeritus with 40 years’ research experience of specialized batteries and over 350 published technical papers will lead the team with the aim of designing customized solutions for battery development, improvement, and recycling.
As part of this transformative deal, Roshan and BRLL will first establish a Lithium Battery Manufacturing facility in India. Plans for the facility with a three phase roll out of powerful products have been in development by Roshan’s CEO and engineering team leader, Mr. S.A. Gaffoor. Mr. Gaffoor, a veteran electrical Engineer and entrepreneur, has over 25 years in developing industrial battery products with 10 patents for advanced battery technologies.
India is a nation on the forefront of innovation and technology and represents one of the largest markets for Electric Vehicles (EVs) worldwide with plans to become an all EV nation by 2030. Roshan has already developed strong partnerships in China with deals with Guangzhou Great Power Energy & Technology Co (http://www.greatpower.net) and Suzhou Chilwee New Energy Power Technology Co. (http://www.sz-cpet.com/en/) and has a impressive line of Lithium Battery products for EVs, Medical Equipment, Solar street lighting, the telecom industry as well as medium and large energy storage.
Opening of New Technology Center in Nevada
On February 8thBRLL announced the opening of the company’s research and technology center in Las Vegas, NV. The facility will strengthen the BRLL green-energy product development program and various collaborative technology efforts.
BRLL management recognizes the current deficiencies, as well as the massive potential, in the Lithium-ion battery supply chain as market and environmental forces propel the coming dominance of Zero-Emission vehicles with companies like Tesla, GM, Ford, Apple and others drive this vital technology. Despite their current market share, Electric Vehicles (EVs) are currently the fastest growing segment of the auto industry.
The new BRLL Technology Center will be the locus for the company’s efforts into Lithium-Ion Battery metal recycling as well as potential battery development and direct metal ion extraction. BRLL intends to immerse itself into the key materials and technology that will underpin this decades coming surge in EV dominance.
Additionally, a section of the center will be dedicated to developmental support and on-site innovative I.P. efforts as Barrel finalizes its discussions with a number of next-level software and related technology partnerships.
Project to Provide Tech Space for Lithium Battery Recycling
On January 28thBRLL provided an update on the company’s recent activities. The CEO of BRLL, Mr. Craig Alford is assisting Altair International Corp. (ATAO: OTC) to develop ATAO’s prized lithium/rare earth and gold assets in Nevada. Mr. Alford was also the founder of American Battery Metals Corp. The Chairman of BRLL, Mr. Harp Sangha and Mr. Alford are also the founders of Lithium Now.
BRLL is aware that most analysts see an upcoming bull market for Lithium and other battery raw materials to feed the surging Lithium-ion battery supply chain and has made this is a strategic focus for the company.
Global demand for these key battery materials is expected to rise dramatically over this decade. The outlook for Lithium will outstrip production with global demand for Lithium expected to increase 650% by 2027. Market demand for Lithium has been predicted to be a staggering 470,000mt by 2025. Each 1% increase in new global Electric Vehicles sales could further increase Lithium demand by 70,000mt, nearly representing the total of last year’s annual production of Lithium.
BRLL is considering location sites with a specific eye toward cost efficiency and process permitting. Access to infrastructure, sufficient power, transport and nearby source material and demand are all factors for project viability. The BRLL lead development site is situated on a roughly 30 acre property that is now zoned for industrial activities located in Nevada just 18.5 miles from the Tesla Gigafactory 1.
For more information on Barrel Energy, Inc. (BRLL) visit: http://www.barrelenergyandtech.com.
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