INTERNATIONAL BATTERY METALS LTD.

International Battery Metals

Overview

International Battery Metals (IBAT) develops and markets modular direct lithium extraction (DLE) systems for naturally occurring lithium brine deposits. The company’s core product is a Modular Direct Lithium Extraction Plant (MDLE Plant) that uses a proprietary absorption-based process to produce lithium chloride, with an option to convert to battery‑grade lithium carbonate in a separate carbonation facility. IBAT markets deployment, licensing, and joint‑development pathways for its modular systems, which are designed for rapid field deployment and reconfiguration.

Technology and product

• Core technology: MDLE Plant using proprietary extraction columns and selective absorption media.
• Initial design: twelve‑column, component‑driven system with capacity expandable by adding modules.
• Chemical footprint: process eliminates acids and most chemicals; produced brine is reinjected to the reservoir after lithium extraction.
• Water management: high water recovery and reuse, up to 98% using reverse osmosis and evaporation.
• Waste profile: no ground waste from lithium extraction; output is lithium chloride for downstream conversion.
• Turn‑key capability: plans to offer full brine‑to‑carbonate solutions directly or via partnerships, licensing, or joint ventures.
• Demonstration: a 2024 three‑month demonstration produced lithium chloride and, in an adjacent carbonation facility, approximately 25 metric tons of battery‑grade lithium carbonate.

Business model

• Primary pathways: deploy MDLE Plants for customers, license technology, or enter joint developments.
• Revenue sources: potential rents and royalties from leases or licensing, participation interests in projects, and downstream sales of carbonate if IBAT operates end‑to‑end production.

Status and traction

• Revenue status: pre‑revenue; the company has not yet delivered an MDLE Plant to a commercial customer or executed customer contracts for plant delivery.
• Testing and demonstrations: conducted brine testing with potential customers, including brines from Arkansas/East Texas, Argentina, and the Middle East; ongoing testing to validate commercial deployment cases.
• Notable engagement: engaged with US Magnesium on a commercial‑scale demonstration project in 2024. That project was terminated in September 2024, the lease ended, and the MDLE Plant was decommissioned and relocated.
• Deployment capital estimates: customizing the initial MDLE Plant to a customer’s brine resource is estimated at roughly $2.0 million to $12.0 million. Customizations can include additional heat exchangers, pumps, condensers, an RO unit, chillers, tanks, and piping to reach up to about 2,000 metric tons per year LiCl (on a Li2CO3 equivalent basis).

Licensing, partnerships, and collaborations

• Ensorcia agreements:
  • Exclusive Chile and Argentina licenses (Sorcia Minerals LLC and Ensorica Argentina LLC) for the respective territories.
  • IBAT designated as exclusive provider of technology, systems, equipment, and related services in those territories.
  • Economic terms: 6% royalty on Netback Sales Price and a 10% participation interest in each project.
  • Termination right if the first extraction system in the territory is not installed and operational by December 31, 2028.
  • Counterparties are controlled by Daniel Layton.
• Entec LLC license:
  • Worldwide non‑exclusive license excluding Argentina and Chile for Li brine extraction and sale of derived products.
  • Economic terms: 6% royalty on Netback Sales Price and a 10% participation interest in each project.
  • Entec may sublicense to its affiliates without IBAT consent; other sublicenses require IBAT consent.
  • Entec is controlled by Daniel Layton.
• Middle East collaboration:
  • An 18‑month exclusive collaboration with a major Middle East energy services provider to pursue DLE opportunities in Saudi Arabia, the UAE, and Oman.
  • Exclusive right to receive and operate processing plants in the region during the term, with a potential three‑year extension if a project is contracted during the initial term.

Intellectual property and know‑how

• Patents: 10 issued patents and 18 pending patent applications covering extraction apparatuses, mobile extraction arrays, ion extraction columns, silica fouling prevention, sorbents, and related technologies.
• Trade secrets: core elements such as the composition of selective absorption media and column design are protected as trade secrets.
• Trademarks: 15 registered trademarks and 7 pending applications (examples include INTERNATIONAL BATTERY METALS, IBAT, ETHICAL LITHIUM PRODUCTION, ETHICAL LITHIUM EXTRACTION).
• Protection strategy: a combination of patents, trade secrets, trademarks, and licensing agreements.

People and facilities

• Employees: 12 staff members, all employed by IBAT USA, Inc.
• Geographic footprint: all employees are based in the United States.
• Corporate offices:
  • 12 Greenway Plaza, Suite 1100, Houston, TX 77046
  • 6100 Tennyson Parkway, Suite 240, Plano, TX 75024
• Public company status: reporting entity in the U.S. and Canada; presence on the TSX Venture Exchange and OTCQB with ongoing governance and compliance requirements.

Financial snapshot

• Revenue: $0 (pre‑revenue).
• Net income (loss):
  • Year ended March 31, 2026: $0.1 million net income.
  • Year ended March 31, 2025: $(3.5) million net loss.
• Funding profile: historically reliant on equity financing; no bank financing reported. Additional capital will be required for customization, deployment, sales and marketing, and R&D.
• Revenue model considerations: potential for royalties and participation interests from licensed or leased projects, plus downstream monetization from end‑to‑end carbonate production.

This summary presents the company’s technology, commercial approach, agreements, intellectual property, team, and key financials based on the latest disclosed information.