THE RISE AND FALL OF LITHIUM +60 MILLION TONS OF OPPORTUNITY Dr. David Deak Lithium Americas Corp. SEPTEMBER 2017 The views, estimates, and opinions expressed in this presentation are those of the author and do not necessarily reflect the position of Lithium Americas Corp. SEPTEMBER 2017 |
WHY ARE WE HERE? SEPTEMBER 2017 |
SEPTEMBER 2017 | 3
WHAT IS THE OPPORTUNITY? SEPTEMBER 2017 |
THE EV: A BETTER USER EXPERIENCE | TSX: LAC SEPTEMBER 2017 | 5
LITHIUM: COST PARITY TODAY Source: McKinsey, EIA | TSX: LAC SEPTEMBER 2017 | 6
LITHIUM: IT’S LIGHT Periodic table Lithium Anode 3 Li Cathode | TSX: LAC SEPTEMBER 2017 | 7
LITHIUM: IT’S HIGH ENERGY Electrochemical series 2e - ⇄ . F 2 + 2F +2.87 Pb 4+ 2e - ⇄ Pb 2+ + +1.67 Cl 2 2e - ⇄ 2Cl - + +1.36 O 2 = 4H + ⇄ + 4e- 2H 2 O stronger reducing agent +1.23 stronger oxidizing agent Ag + 1e - ⇄ + Ag +0.80 Fe 3+ 1e - ⇄ Fe 2+ + +0.77 Cu 2+ 2e - ⇄ + Cu +0.34 2H + 2e - ⇄ + H 2 0.00 Pb 2+ 2e - ⇄ + Pb -0.13 Fe 2+ 2e - ⇄ + Fe -0.44 Zn 2+ 2e - ⇄ + Zn -0.76 Al 3+ 3e - ⇄ + Al -1.66 Lithium Mg 2+ 2e - ⇄ + Mg -2.36 3 Li Li + 1e - ⇄ + Li -3.05 | TSX: LAC SEPTEMBER 2017 | 8
LITHIUM MARKET: TODAY $1.5 billion in sales 182 kt LCE market 40% Lithium carbonate Li-ion equivalent (LCE) Li 60% other 3-4 gigafactories Source: USGS | TSX: LAC SEPTEMBER 2017 | 9
GIGAFACTORY MATHEMATICS To meet some oncoming demand (e.g. Tesla, VW) in 5 years: 1 GIGAFACTORY 4 GIGAFACTORIES 70 GWh / year x 0.7 kg LCE per kWh ~ 50,000 t of LCE per year ~ 200,000 t of LCE per year 70 GWh / 70 kWh per EV ~ 1 million EVs per year ~ 4 million EVs per year = 25% of today’s Li market = 100% of today’s Li market 1 million tonnes LCE | TSX: LAC SEPTEMBER 2017 | 10
GIGAFACTORY MATHEMATICS (CONT.) To electrify the world’s fleet of vehicles: 1 GIGAFACTORY 62 GIGAFACTORIES 70 GWh x 0.7 kg LCE per kWh ~ 50,000 t of LCE per year ~ 3.1 million tonnes of LCE per year 70 GWh / 70 kWh per EV ~ 1 million EVs per year ~ 62 million EVs per year Over 20 years: Over 20 years: = 1 million tonnes LCE = 62 million tonnes LCE = 20 million EVs = 1.25 billion EVs | TSX: LAC SEPTEMBER 2017 | 11
RAPID TECHNOLOGY ADOPTION 100 Percent of households 75 50 25 0 1930 1970 2010 1910 1950 1990 Range Electricity Refrigerator Radio Color Television Telephone Microwave Automobile Clothes Washer Air Conditioning Clothes Dryer VCR Dish Washer Internet Computer Cell Phone Electricity Source: BlackRock, Interpreting Innovation , September 2014 | TSX: LAC SEPTEMBER 2017 | 12
LITHIUM MARKET: TOMORROW 3.1 million tonnes …. | TSX: LAC SEPTEMBER 2017 | 13
LITHIUM MARKET: TOMORROW EV market needs 20x growth Lithium carbonate equivalent (LCE) 3.1 million tpa LCE Over 60 gigafactories Excludes: ▪ Utility storage ▪ Semi trucks | TSX: LAC SEPTEMBER 2017 | 14
WHERE ARE THE OPPORTUNITIES? SEPTEMBER 2017 |
LITHIUM SOURCES BRINE HARD ROCK CLAY | TSX: LAC SEPTEMBER 2017 | 16
LITHIUM PRODUCTION COSTS Difficult to escape physics Plenty of room for optimization Innovate to lower cost | TSX: LAC SEPTEMBER 2017 | 17
INNOVATE: STREAMLINE PROCESS Li 2 CO ore/brine LiOH ⋅ H 2 O ore/brine LiOH ⋅ H 2 O | TSX: LAC SEPTEMBER 2017 | 18
INNOVATE: REVAMP ENERGY SYSTEMS Build on first principles $0.35/kWh <$0.05/kWh Vertical integration | TSX: LAC SEPTEMBER 2017 | 19
INNOVATE: ALTERNATIVE BRINE TECH Increase yield recovery Process for all circumstances Optimize water management | TSX: LAC SEPTEMBER 2017 | 20
INNOVATE: ALTERNATIVE ROCK TECH Vertical integration $0.35/kWh <$0.05/kWh Recycle consumables | TSX: LAC SEPTEMBER 2017 | 21
INNOVATE: CLAY OPPORTUNITY Robust process exists* Favorable thermodynamics Goal: optimizing mass-energy balance *Not yet commercialized | TSX: LAC SEPTEMBER 2017 | 22
HOW TO BEST INVEST IN LITHIUM? $40 BILLION | TSX: LAC SEPTEMBER 2017 | 23
TAKE-AWAYS 1 2 Lithium market must grow by a Electrification of transport is a reality factor of +20 • Better user experience • For EV market needs • Cost parity today • More for utilities, semi-trucks et al. 4 3 Investable projects are: Unprecedented high-impact investment opportunity • Scalable and risk-manageable • Enabler of sustainable future • Built on collaborative talent • Legacy of clean air and planet | TSX: LAC SEPTEMBER 2017 | 24
THE FUTURE IS CLEAR CONTACT INFORMATION info@lithiumamericas.com 1100 – 355 Burrard Street Vancouver, BC V6C 2G8 Canada SEPTEMBER 2017 | Hong Kong
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