Technology

 

OWL Signed a Definitive Agreement

Technology

On September 27, 2023, OWL signed an Assignment and License Agreement with MatterGreen LLC (MG) which will assign OWL two separate patent applications for Lithium Carbonation that is a lithium carbonate extraction technology.  The two patent applications are for natural brine and slurries made from pegmatite, clay, volcanic rock, and sediment.

Following the assignment OWL will own 100% of the OWL patent applications and, under the terms of the Definitive Agreement, MG will be continuing to develop the technology on behalf of OWL to commercialize OWL’s ability to extract lithium carbonate from a commercial plant.

3d render of the lithium element from the periodic table

The Basic Terms of the Definitive Agreement with MatterGreen include

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  • A 5% gross royalty payable to MG from all income received by OWL for the separation of lithium and/or any byproducts utilizing the OWL Patent Applications during the period prior to the patents being issued;
  • the royalty will then increase to a 7% gross royalty to MG for the period after the United States Patent and Trademark Office (USPTO) issues a patent for at least one of OWL’s Patent Applications;
  • the issuance to MG of 2,000,000 common shares in the capital of OWL based on certain performance criteria over a one or two-year period; 
  • payment to MG of 5% of the net proceeds from any sale of the OWL Patent Applications or the related technology during the period prior to the patents being issued by USPTO and then increased to 7% of the net proceeds from the sale of an OWL Patent after the patents have been issued.
As stated by MG, “The objective (of the Definitive Agreement) is to commercialize OWL’s technology that rapidly, economically, and environmentally extract Lithium and to generate Lithium Carbonate directly from a brine while reducing presently common consumables in existing production practices including adsorbents, absorbents, membranes and electrodes, and environmental burdens originating from substantial uses of local fresh water, acids, and solid chemicals.”

Dr. Jinichiro Nakano, Material Science and Engineering

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Dr. Nakano is a founder of MatterGreen LLC. He earned a PhD at McMaster University in Hamilton, Ontario. His field of study was Material Science and Engineering. Dr. Nakano led various research projects in energy and material processing where he oversaw numerous postdoctoral Fellows and graduate students.

Prior to founding MG, he was a Technical Fellow with the US Department of Energy (DOE) at its National Energy Technology Laboratory in Oregon, where he developed novel energy and material technologies that resulted in eight patents. Dr. Nakano has been honoured with 12 international recognitions.

Sequence of Programs

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MG will complete a bench test within five weeks of funding. This will be a proof of concept, with demonstration imaging made. Using the demonstration imaging, the Company plans to pre-sell the use of the technology to industry consumers of lithium carbonate and, in particular, the manufacturers of EV and HEV.

The other deliverables will be a small scale demo unit, followed by a pilot site demo unit which will be used to scale out a commercial cost-effective producing plant.