SACRAMENTO, CA--September 11, 2012: California Governor Jerry Brown signed into law on Friday Assembly Bill 2205, which clears the way for a new, revolutionary materials industry in California. AB 2205, authored by Assembly Member V. Manuel Perez (D-Coachella) and co-authored by Senate Majority Leader Ellen Corbett (D-San Leandro), brings state regulation up to speed with innovative new technology to sustainably produce lithium, manganese, and other materials vital to clean energy and the modern economy from the mineral rich geothermal brines located in California.
“Lithium and other critical materials found in the Salton Sea Geothermal Region are vital to electric vehicles, grid storage, and other clean energy technologies needed to meet the state's climate targets.”
"AB2205 is about building an economy for the future," said Assembly Member V. Manuel Perez. "This will bring new, good paying jobs in an innovative industry to the Imperial Valley and further establish California as a global leader in the clean energy economy."
Pleasanton, Calif.-based Simbol Materials has pioneered this transformative new technology that leverages a geothermal power plant to extract materials from geothermal brines. The technology also uses excess steam, waste water, and carbon dioxide (CO2) from the geothermal power plant, setting a new standard in sustainability and competitiveness for materials production.
Simbol Materials is commercializing the technology in Southern California's Imperial Valley, one of the most prolific geothermal resources in the world for energy and materials. The resource contains decades of supply of lithium, manganese, and zinc vital for electric vehicle batteries, agriculture, specialty steels and other critical applications. Simbol's technology unlocks this vast untapped resource estimated at over $25 billion per year in addressable markets. In fact, just one Simbol Materials plant supplied with brine from a 50MW geothermal power plant can produce sufficient lithium for about 1.6 million plug-in hybrid electric vehicle batteries per year while creating jobs in one of the most economically challenged regions in the country.
"AB2205 will accelerate the green economy in California," said Senate Majority Leader Ellen Corbett. "Lithium and other critical materials found in the Salton Sea Geothermal Region are vital to electric vehicles, grid storage, and other clean energy technologies needed to meet the state's climate targets."
"Simbol Materials is the world's most competitive, reliable, and sustainable supplier of specialty materials for longer-lasting electric vehicle batteries, stronger, lighter steels and better crop yields," said Luka Erceg, founder, president and CEO of Simbol Materials. "We will continue to establish this innovative manufacturing industry here in California thanks to the relentless work of Assembly Member Perez and Majority Leader Corbett. This important legislation paves the way to make the United States once again the world leader in critical materials that is the starting point of manufacturing innovation and the cornerstone of a globally competitive economy."
About Simbol Materials
Simbol Materials answers the global call for high performance materials for the energy storage, agriculture, and other fast-growing, high margin markets. The company's transformative technology leverages renewable energy to produce lithium, manganese, zinc, and other critical materials from geothermal brines in California's mineral-rich Imperial Valley. Simbol Materials is the world's most competitive, reliable, and only sustainable supplier of specialty materials for longer-lasting electric vehicle batteries, stronger, lighter steels and improved crop yields. Simbol Materials was founded in 2008 and is headquartered in Pleasanton, California with commercial operations in Imperial Valley, California. For more information, please visit Simbol Materials.
