Tel-Aviv based ASTERRA officially announced today (Mon) that its developments have led to the discovery of lithium, one of the sought-after resources in short supply at the current time. The company also announced that it has registered a patent for the new use of technology and states that the technology is expected to allow it to find additional reservoirs worldwide, alongside the continued development of the company’s existing capabilities in finding water reservoirs.
The core technology based on ASTERRA’s solution uses advanced algorithms and artificial intelligence to decode satellites’ synthetic radar (SAR) data using a unique ground-penetrating frequency. The technology was first applied to the search for underground water on Mars and other planets during the geophysics studies of founder Lauren Guy. Since 2015, ASTERRA technology has been used in over 70 countries.
Under Lauren’s management, Asterra launched its CTO office at the beginning of 2022, aiming to expand the technology’s uses to additional verticals and find other natural resources under the ground. In light of the expected colossal shortage and the increasing demand for lithium, mainly due to the increase in demand for electric vehicles, semiconductors, chips, cell phones, and practically in almost every industry where a battery is used, it was decided to focus on this precious metal.
After examining satellite signals to identify the presence and concentrations of lithium underground at different levels and a test done in the field by several specializing companies, the findings were confirmed. The results were of significant value and indicate a global breakthrough.
Lauren Guy, founder and CTO of ASTERRA: “The wonder metal is at the heart of the global desire to switch to electric vehicales, but the demand significantly exceeds the supply, which causes an almost 500% increase in lithium prices and harms the effort to stop global warming. The global demand for lithium is insatiable, the supply crisis is present and significant, and the estimates are that it will increase much more in the next 10-20 years. We at ASTERRA are proud to lead the space-tech industry in Israel, feel that this is just the beginning, and believe that with this technology, we can all better understand humanity’s signature on the planet.”
Lithium, silver-white metal and the third largest element after hydrogen and helium, is in the midst of an unprecedented boom in terms of demand. Therefore, it is not surprising that lithium prices have increased 13 times over the past two years, and in March of this year, its price reached an all-time high of $77,000 per ton.
Elly Peretz, CEO of ASTERRA: “This is another proof that Israeli initiative and knowledge are at the forefront of the fight against the climate crisis. Congratulations to the staff and management for this significant scientific discovery. I am proud to lead a company that stands at the forefront of the uncompromising fight for a better future for us, our children, and future generations”.