Lithium Exploration Group, Inc. is engaged in discussions with the owner of two lithium battery patents to partner on the establishment of a lithium technology development company. LEXG intends to establish a subsidiary entity that will hold this intellectual property (IP) as well as others that come available. Currently the discussions center on appointing the inventor to be Chief Technology Officer of the subsidiary entity in order to evaluate market penetration of future IP acquisitions, as well as to support the research and development of new patents in the industry.
“At our core, we are a technology development company and we want to be on the forefront of the lithium industry. We feel strongly that the SonCav technology will change the way that lithium is extracted from the earth. The SonCav technology is on a great path and, with the visibility of success with our oil and gas investments, we will be able to reinvest those dollars to support emerging technologies across the industry,” said CEO Alex Walsh. “Over the past year, we have begun looking at novel intellectual property that we can assist in bringing to market. The important part for us is building a foundation now from which we can grow. I hope to be able to announce an agreement with this inventor as early as next week.”