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Many Aussie investors are familiar with ASX-listed lithium stocks, so here we will cover the essentials you need to know before investing. Turns out, knowing how to invest in lithium stocks is closely tied up with a basic understanding of how mining stocks work, combined with factors specific to the company.
Not all ASX-lithium stocks are the same so here’s how we’ll go about this guide:
- What is lithium?
- Australian lithium industry: an overview
- History of ASX lithium stocks
- Electric vehicles: a very short introduction
- EV market and its role in the lithium price
- One of the most crucial components of EVs is the lithium-ion battery
- But what makes the lithium-ion battery so special?
- The three main types of lithium stocks
- The different stages of a mining company
- How to compare lithium stocks
- The future of lithium and battery tech
- Substitutes and alternatives
- Concluding thoughts: lithium and the future
Why invest in lithium?
The COVID-19 pandemic rightfully consumed much of the world’s attention in 2021.
But so, too, did unprecedented weather events.
2021 was a year of unprecedented heat, unprecedented drought, unprecedented fires, storms, and floods.
These unprecedented events are no flukes.
Scientists the world over attribute the turbulent weather events to the carbon we release into the air
According to the latest report from the Intergovernmental Panel on Climate Change, worldwide greenhouse gas emissions since 1850 are now at 2,400 billion tonnes of carbon dioxide.
Every subsequent 1,000 billion tonnes is likely to cause between 0.27°C and 0.63°C more warming.
But as Bloomberg reported, the grim news should not overshadow the dramatic technological progress made to replace fossil fuels.
And some of the greatest advances have come in batteries.
Since 2000, improvements in energy density and reductions in manufacturing costs have brought the price of electric vehicle (EV) batteries down almost 10-fold.
Analysts at Bloomberg New Energy Finance (BloombergNEF) predict that 2023 could be the year EVs reach price parity with internal combustion vehicles. This would make the clean energy transition that much speedier.
And that’s where lithium comes in. For lithium is a vital component of the electric batteries set to power our energy revolution.
What is lithium?
Lithium is the third element in the periodic table and the lightest classified as a metal, discovered in 1817 by Swedish scientist Johan August Arfwedson.
Lithium is soft and silver. It is lighter than water, about half of its density, so it can even float.
What makes lithium attractive for industrial application is the fact it has the highest electrochemical potential among all the metals.
It is ideal for use in rechargeable batteries, providing efficient energy storage.
Lithium is therefore an element of rising importance.
This is highlighted by the British Geological Survey (2015) in their metal risk list. This list evaluates the supply risk index of metals according to several factors such as production, concentration, distribution, and substitutability.
Lithium has been ranked with an index of 7.6 (out of 10), the same as the platinum group elements, increasing its index from a 5.5 in 2011, and a 6.7 in 2012.
Lithium in various forms, such as lithium carbonate, lithium hydroxide, and lithium chloride, is also used in lubricant greases, pharmaceuticals, catalysts, and air treatment.
Below is a breakdown of lithium world consumption as of 2021:
It’s also useful here to talk about the types of lithium resource, as lithium miners differ on means of extraction.
Lithium on Earth only occurs as a mineral compound in igneous rocks, subsurface lithium brines, lithium clays, or as a dissolved solid substance in seawater.
Although there are more than 100 minerals containing lithium, only three are commercially mined today. Found in pegmatites, these rock/minerals are lepidolite, spodumene, and petalite.
Spodumene is the most common.
Lithium from hard rocks and clays is extracted via conventional mining methods.
However, lithium is also found in continental brine deposits, saline groundwater pools and is enriched in dissolved lithium.
Brine deposits represent about 65% of the world’s lithium resources.
Canada, China, and Australia have significant resources of lithium minerals, while lithium brine is produced mainly in Chile, Argentina, China, and the US.
Unlike hard rock lithium extraction, extraction of lithium from brine deposits involves evaporation processes in man-made ponds.
Lithium brines are the dominant feedstock for lithium carbonate production
Basically, the most common lithium-bearing raw materials are brine and spodumene, with lepidolite being the third, less common, source.
This raw material can then be processed into three lithium compounds: lithium carbonate, lithium hydroxide, and lithium chloride.
However, only lithium carbonate and lithium hydroxide can be used in electric vehicles and li-on batteries.
For more detail on how hard rock mining of spodumene ore leads to the assembly of a lithium-ion battery, see the diagram below:
Australian lithium industry: an overview
Australia was bestowed the bounty of natural resources.
But while iron ore and coking coal often get the bulk of our attention as Australia’s predominant export goods, we shouldn’t forget lithium.
According to the federal government’s Department of Industry, Science, Energy and Resources, Australia is the biggest lithium exporter globally.
Australia produced 49% of the world’s lithium in 2020.
A 2021 United States Geological Survey found that ‘five mineral operations in Australia, two brine operations each in Argentina and Chile, and two brine and one mineral operation in China accounted for the majority of world lithium production.’
As the chart below shows, most of our lithium comes from Western Australia.
Impressively, Australia had no resources of lithium considered subeconomic, according to the most recent data from Geoscience Australia.
Zooming out, and Australia also lays claim to the world’s second-largest lithium reserves, behind only Chile.
History of ASX lithium stocks
Despite Australia possessing large natural deposits of lithium minerals, the history of the local lithium industry is not as storied as, say, Australia’s gold or iron ore sector.
For instance, the federal government’s ‘Resources and Energy Quarterly’, which provides data on the performance of Australia’s resources and energy sectors, didn’t start covering the lithium industry until 2017.
And even then, reference to lithium related to a broader discussion of market conditions for nickel.
Partly, that’s because the largest lithium producing companies are overseas firms.
As Mining Technology reported in August 2021, the top three largest lithium producers (by market cap) were China-based Jiangxi Ganfeng Lithium (US$38.5 billion), US-based Albermarle Corp (US$26.8 billion), and China-based Tianqi Lithium (US$24.4 billion).
But the resurgence of the lithium price in late 2020 gained the lithium industry close attention.
Now, any history tour of the lithium sector must mention the boom of 2016–17 — and subsequent bust in 2018.
Lithium stocks are commodity stocks. And for them, the supply and demand equation are vital.
Commodities — like iron ore, coal, lithium — rise when demand outpaces supply.
That could also happen when supply is constant, but demand rises. Or when demand is constant, but the industry suffers a supply shock.
Well, in 2016–17, the price of lithium boomed but was followed by a price bust as too much new production came onstream too soon.
Australia’s lithium industry — as well as the globe’s — was still digesting the oversupply when the pandemic caused a demand shock, compounding the glut.
As you can see from the chart below, the world’s lithium production was running way ahead of demand in 2017–20 — an unfavourable scenario for a commodity.
The spot lithium hydroxide price eased from US$16,139 a tonne in 2018 to about US$11,000 a tonne in late 2019.
Lithium hydroxide prices (delivered to China) continued falling, dropping 41% year-on-year to the June 2020 quarter.
Lithium carbonate prices (delivered to China) declined by 46% in the same period.
Unsurprisingly, this impacted the stock prices of lithium firms in Australia.
Lithium is a relatively abundant metal. It’s a commodity. And commodity stocks are usually price takers.
Take, for instance, iron ore — the pride of Australia’s resource sector.
Iron ore, like lithium, is a commodity.
So consider how sensitive iron ore stocks are to iron ore price moves.
Both Rio and BHP can act as examples.
In Rio’s case, a 10% change in the iron ore price was forecast to impact calendar 2021 earnings before interest tax and depreciation (EBITDA) by US$4.18 billion.
It’s a similar situation with BHP. A US$1 per tonne move in the iron ore price was expected to impact EBITDA by $234 million in FY21.
The takeaway here is lithium stocks ride the demand cycle and inexorably rising lithium prices are not guaranteed.
That said, they were rising again in 2021.
As Benchmark Mineral Intelligence Managing Director Simon Moores said in September 2021, the lithium deficit in 2025 is slated to be bigger than the entire lithium industry was in 2016.
And a big reason is the huge anticipated growth in electric vehicle production.
Electric vehicles: a very short introduction
Many think electric vehicles started with Elon Musk unveiling the Tesla Roadster in 2008.
But electric cars were first demonstrated back in 1828. And the first EV produced came in 1884.
In 1899, Camille Jenatzy’s La Jamais Contente EV was the first automobile to exceed 100km per hour.
The history of EVs is long enough to be split into three major phases: their increasing popularity (about 1890–1920); their declining popularity (after 1920); and attempts at reviving popularity (after 1970).
As researcher Amela Ajanovic wrote in 2015:
‘The “golden age” of EVs was reached in the period 1880–1920 in the USA where the electric passenger car was far more successful than in Europe. At this time, three types of cars were available: steam-powered vehicles, gasoline ICE vehicles, and EVs. In 1900 EVs became the top-selling road vehicles in the USA, capturing 28% of the market. By 1900, 936 gasoline-, 1575 electric-, and 1681 steam vehicles have been registered nationwide. In the major urban areas (New York, Boston, and Chicago), EVs were dominant, about two EVs to one gasoline.
‘The market was divided with no clear indication of which type would dominate. Each technology had its advantage and disadvantages, fighting to be competitive in the open market in performance and price. Steam-powered vehicles were faster and less expensive but required a long time to fire up and frequent stops for water. The ICEs were dirtier, more difficult to start and moderately more expensive but could travel longer distances at a reasonable speed without stopping. EVs were clean and quiet but slow and expensive.’
Incredibly, while ICE vehicles vastly outnumber EVs today, this was not always the case. EVs enjoyed top status in the early 1900s.
The 1920s saw better road networks — favouring the longer range of ICE vehicles — and the introduction of the revolutionary mass-produced Ford Model T.
Henry Ford’s Model T was the first mass-produced vehicle with 15 million cars. The scale of its production allowed Henry Ford to cut Model T’s price from US$850 in 1909 to US$260 in 1920.
The prices of the less efficiently produced EVs did not decrease in tandem, however.
The 1920s saw better road networks — favouring the longer range of ICE vehicles — and the introduction of the revolutionary mass-produced Ford Model T.
Henry Ford’s Model T was the first mass-produced vehicle with 15 million cars. The scale of its production allowed Henry Ford to cut Model T’s price from US$850 in 1909 to US$260 in 1920.
The prices of the less efficiently produced EVs did not decrease in tandem, however.
EV market and its role in the lithium price
The lithium investment thesis is best explained by considering a few charts below.
But before we get to the charts, we need to note the context.
In August 2021, the UN’s Intergovernmental Panel on Climate Change released a report signed off by 234 scientists from more than 60 countries.
The report found the world is likely to temporarily reach 1.5C of warming within 20 years even in a best-case scenario of deep cuts in our greenhouse gas emissions.
But what’s the best way to cut greenhouse gas emissions?
According to the World Resource Institute, the energy sector contributed to 72% of the global human-made greenhouse gas emissions.
Clearly, if the world is to act, the energy sector will be a big focus.
And at the forefront of this focus is the electric vehicle and its energy source: the lithium-ion battery.
Consider these figures.
In 2020, a record three million new electric cars were registered, up 41% from 2019. This is despite the broader global car market shrinking 16% in 2020.
But three million cars aren’t much in the scheme of things.
That’s where the rising demand comes in.
According to the International Energy Agency, the worldwide number of electric cars, vans, heavy trucks, and buses will rise to 145 million by 2030.
And BloombergNEF estimates that at least two-thirds of global car sales will be electric by 2040.
Internal combustion engine vehicles — the ones most of us are currently driving — have already peaked.
And EVs are only set to get cheaper and more powerful.
So here’s the first chart, then:
As you can see, the demand for EVs is set to accelerate after 2021, with the major consumer regions — the US, China, and Europe — dominating the market share.
In 2021, the Department of Industry, Science, Energy and Resources reported that the planned capacity increases of automotive manufacturers to 2025 already exceeds the requirements of government policies.
Auto manufacturers are clearly investing heavily in the transition from internal combustion engines (ICE), but they are not primarily in the charity business.
Automakers expect these investments to pay off.
As the Department concluded, higher EV production ‘may place pressure on the supply of materials such as spodumene and lithium hydroxide.’
‘At this stage, supply may fall short of demand unless mine and brine operations are expanded beyond initial projections.’
One of the most crucial components of EVs is the lithium-ion battery.
And here is another wrinkle to the demand story.
To drive greenhouse gas emissions down, we need a low-carbon energy system and low-cost energy storage.
Well, lithium-ion battery cells have been getting cheaper, making electric vehicles more affordable and driving up sales as a consequence.
For instance, the World Electric Vehicle Journal ran a survey in Australia in 2019 that found affordable price was the biggest factor in encouraging EV uptake.
This attitude hasn’t changed in decades.
For instance, in 2000 The Economist cited research that found that while Americans favour cleaner, more fuel-efficient vehicles in principle, ‘they are unwilling to pay much more for them than they would for a traditional gas-guzzler.’
With EV sales on the up, what changed wasn’t the parsimonious attitude of consumers but the price of EV batteries.
Specifically, the price of lithium-ion batteries fell by 97% since 1991.
To put this in perspective, the Nissan Leaf electric car currently has a 40kWh battery. At 2018 prices, the battery costs about $7,300.
But in 1991 the Leaf’s battery alone would cost you $300,000!
A steep price that would hamper demand even for the most environmentally conscientious.
As The Economist wrote in 2021, the average cost of a lithium-ion battery pack is roughly $140 per kilowatt hour.
The ‘holy grail’ is $100 per kilowatt hour.
This is when EVs reach parity with ICE vehicles and become cost-competitive with combustion ones.
BloombergNEF estimates this can happen by 2023.
But what makes the lithium-ion battery so special?
Lithium-ion batteries have significant advantages over other battery sources.
For one, they have higher energy density and a longer cycle life. They can charge and discharge faster than other storage alternatives.
They can supply applications needing high currents. And they require less maintenance.
It’s time for another chart.
Here’s a breakdown of the key components in a typical lithium-ion battery:
The world’s greenhouse emissions are rising. The IPCC released a dire warning report in 2021 urging more action.
EVs are set to overtake internal combustion engines by 2040. And EVs rely on lithium-ion batteries to run.
What does this all mean?
Let’s consider another chart:
The chart above shows the prices of the key components of a lithium-ion battery in 2020 versus 2021.
As you can see, the prices for most of the key components are rising.
Lithium, of course, registered one of the bigger price jumps.
That’s corroborated by this chart below, from the oft-cited Benchmark Minerals.
Again, the chart is showing that after the oversupply of lithium in 2018 led to a price crash, lithium is rising again.
The three main types of lithium stocks
When it comes to analysing a lithium stock, it pays to consider what type of lithium stock it is.
There are three main types:
Of course, there will be gradients within these categories, but that’s the main distinction.
Lithium explorers’ prospect for viable ores.
Explorers are yet to operationalise any mine and are a long way from producing any lithium.
Instead, lithium explorers seek out patches of land they can economically mine.
At this stage, of course, lithium explorers are money pits. Not only are revenue years away, but revenue also isn’t even guaranteed.
An explorer may find that a prospective tenement, after much surveying and assaying, will yield uneconomical results if mined commercially.
In those unfortunate cases, the money spent on land claims, tenements, drilling, and surveying goes to waste.
That’s why junior explorers are often described as speculative punts.
Despite the risks and upfront costs, according to a Victorian state government parliamentary inquiry, in recent decades, the smaller companies with a market capitalisation of less than $50 million have shouldered a larger share of exploration in recent decades in Australia.
The inquiry found that, in many respects, ‘big mining companies have effectively outsourced mineral exploration to the juniors.’
The Australian Institute of Mining and Metallurgy found in 2011 that junior explorers possess one key advantage over large-scale mining companies.
Explorers have greater efficiency in conducting their exploration activities.
Explorers, by nature of their status, must find a way to do more with less. Dearth incentivises efficiency and thrift.
Managing director of MinEx Consulting Richard Schodde summarised this point well:
‘At any one time a junior company, on average, has got two years with cash in the bank, so they have got to deliver results in the next two years otherwise they will not get funding for the future.
‘They are always on a very short fuse.’
Here are three ASX lithium explorers:
Argosy Minerals Ltd [ASX:AGY]
Argosy is a junior Australian explorer with a current 77.5% interest in the Rincon Lithium Project in Argentina’s Salta Province.
AGY also holds a 100% interest in the Tonopah Lithium Project in Nevada, US.
Argosy’s jewel is the Rincon Project. AGY thinks Rincon is a potential game-changer given its prime location in the famed Lithium Triangle.
Global Lithium Resources Ltd [ASX:GL1]
Global Lithium is currently exploring the Marble Bar Lithium Project in Western Australia’s Pilbara region.
The region is home to much of the country’s operations.
GL1’s assaying suggests the Marble Bar Project exhibits spodumene-bearing pegmatite. To date, GL1 has focused on exploring the Archer deposit, comprising spodumene-bearing pegmatites over a 3km by 1km zone.
In 2020, Global Lithium reported a JORC inferred mineral resource of 10.5 million tonnes at 1.0% Li20.
GL1 thinks opportunities exist for further discoveries across the broader Marble Bar area.
Anson Resources Ltd [ASX:ASN]
Anson Resources is a lithium exploration company currently focused on the discovery, acquisition, and development of natural resources serving the new energy markets.
Its key exploration target is the Paradox Basin Brine Project in southern Utah, US.
In 2021, Anson identified a large brine aquifer in the Mississippian Leadville Formation, with the exploration target comprising 1.3–1.8Bt grading 80–140ppm Li.
ASN also has a portfolio of base metals assets in Western Australia, covering 458 square kilometres.
If a company discovers land possessing sufficient ores with further exploration showing the ores are of high enough grade, the company will then seek to develop the area for commercial cultivation.
At this stage, the company believes it has found land of prospective quality it wishes to develop into a commercial mine with the intention to start producing lithium at scale.
The development stage involves planning and construction of a lithium mine but also any associated infrastructure.
That’s why many lithium mine developers emphasise if their mine site is close to any established ports, roads, or transportation lines. This proximity reduces capital expenditure on associated infrastructure.
Companies at the development stage must also obtain permits and licenses before they can begin construction.
This can take several years and can depend on the bureaucracies of local governments.
This also incurs regulatory risks as permits are not guaranteed.
For instance, Piedmont Lithium Inc [ASX:PLL] faced some permit issues in 2021 when Gaston County board commissioners in the US state of North Carolina said they might block or delay PLL’s project due to environmental concerns.
Here are three current ASX lithium project developers:
Core Lithium Ltd [ASX:CXO]
Core Lithium seeks to become Australia’s next lithium producer by developing the spodumene Finniss Lithium Project near Darwin Port in the Northern Territory.
In 2021, CXO released a Definitive Feasibility Study and a Scoping Study on Finniss. Both suggested Core could produce an average of 173,000tpa of lithium concentrate at a C1 Opex of US$364/t and AU$89 million Capex through DMS (gravity) processing.
The initial Finniss mine life is set at 10 years.
As an advanced developer, Core expects to commence construction at Finniss before the curtain closes on 2021, with first production slated before the end of 2022.
Vulcan Energy Resources Ltd [ASX:VUL]
Vulcan Energy was one of the pin-up stories for the resurging ASX lithium sector in 2021.
Over 12 months to September 2021, the VUL share price gained 900%.
In large part this was due to Vulcan aiming to develop the world-first zero carbon lithium project in the Upper Rhine Valley in Germany.
Vulcan is aiming to develop the project that will produce premium, battery-quality lithium chemicals with a zero-carbon footprint.
The company seeks to achieve this by harnessing renewable geothermal energy to drive production, avoiding evaporation ponds, mining, or fossil fuels.
Lake Resources NL [ASX:LKE]
Like Vulcan, Lake Resources is pioneering cleaner lithium extraction and processing as it seeks to develop its flagship Kachi Project as well as three other lithium brine projects in Argentina.
Lake’s projects cover 200 square kilometres in a prime location well-known as the Lithium Triangle. 40% of the world’s lithium is produced at the lowest cost there.
LKE seeks to leverage direct extraction technology it has developed with tech partner Lilac Solutions.
Lilac’s technology has been backed by the Bill Gates-led Breakthrough Energy Fund and MIT’s The Engine Fund.
LKE plans to produce high-purity lithium carbonate and has returned samples with 99.9% purity.
In November 2018, Lake announced a maiden JORC resource at Kachi of 4.4 million tonnes (Mt) of contained lithium carbonate equivalent (LCE).
In April 2020, Lake announced pre-feasibility study (PFS) results for Kachi, revealing an annual production target of 25,500 tonnes of battery-grade lithium carbonate using direct extraction technology.
Lithium producers have overcome all the hurdles entailed in discovering and exploring prospective ore, securing funds to develop an economical mine, bringing the construction of that mine to completion, and finally beginning to extract, produce, and ship its lithium product.
Here are three current ASX lithium producers.
Mineral Resources Ltd [ASX:MIN]
Mineral Resources is a diversified producer across multiple commodities, including iron ore and lithium.
MIN emerged after the amalgamation of three firms — Crushing Services International, PIHA, and Process Minerals International.
Combining as one, the three companies became Mineral Resources, listing on the ASX in 2006.
MIN operates mine sites in the Pilbara, Goldfield, and Yilgarn regions.
Mineral Resources mines and produces both direct shipping ore lithium and spodumene concentrate.
MIN’s Mt Marion lithium mine was slated to produce 206,000 tonnes of spodumene concentrate per annum, but a recent upgrade project is underway to increase production to 450,000 tonnes.
Orocobre Ltd [ASX:ORE]
The merger was finalised in August 2021, with the two companies currently trading under ORE’s ticker.
The merged entity — suddenly the world’s fifth-largest lithium producer — said it wishes to rebrand as Allkem.
ORE and GXY — now Allkem — have combined their large assets in Argentina, part of the famous ‘lithium triangle’.
In Argentina, Orocobre completed around 60% of the Olaroz lithium carbonate plant expansion from 25,000mt/year to 42,500mt/year, while Galaxy has been developing the first stage of the Sal de Vida lithium brine project to produce about 32,000mt/year of lithium carbonate.
Prior to the merger, Orocobre was well on its way to completing a 10,000mt/year Naraha battery-grade lithium hydroxide plant in Japan.
This plant will help what is now Allkem to enhance its vertical integration by allowing it to convert Olaroz lithium carbonate into battery-grade hydroxide.
Allkem will also operate what was once GXY’s Mt Cattlin operation in Western Australia, which produces around 200,000 mt/year of spodumene concentrate.
Pilbara Minerals Ltd [ASX:PLS]
Unlike Mineral Resources, Pilbara Minerals is a pure-play lithium business, owing 100% of the world’s largest, independent hard-rock lithium operation.
Pilbara’s Pilgangoora Operation in Western Australia produces a spodumene concentrate.
The Pilgangoora Operation has attracted big global partners like Ganfeng Lithium, General Lithium, Great Wall Motor Company, CATL, and Yibin Tianyi.
In FY21, PLS shipped 281,440 metric tonnes of spodumene concentrate.
The different stages of a mining company
These three broad-stroke distinctions — explorers, developers, and producers — can be neatly transmuted to stock market prices by what’s called a Lassonde Curve.
The Lassonde Curve’s namesake is Pierre Lassonde, one of the founders of Franco-Nevada, the first gold royalty company.
You can check out a handy diagram breaking down the Lassonde Curve below:
How to compare lithium stocks
When it comes to evaluating and comparing lithium stocks, you must consider multiple factors.
You have to consider the lithium stock’s resource: does it possess spodumene, brine, clay, or a mixture?
For context, approximately 59% of the world’s lithium resources are found in brines and 25% in minerals.
The remainder is found in clays, geothermal waters, and oil field brines.
The type of resource also relates to where the lithium project is located.
For instance, Europe overtook China as the world’s largest electric vehicle (EV) market for the first time in 2021.
This development plays into assessing which lithium stocks have the most growth potential.
With Europe overcoming China as the largest EV market, lithium stocks with projects in Europe could stand to benefit greatly.
That could partly explain the run-up in the Vulcan Energy Resources Ltd [ASX:VUL] share price.
Because VUL’s key lithium project resides in the Upper Rhine Valley…in Germany.
Lithium is now centre stage of the clean energy revolution, being a key feedstock for the EV battery.
But lithium assuming this mantle means focus is also shifting to cleaner extraction and processing of the white metal, too.
And that’s another way to compare lithium stocks — their extraction methods and ESG credentials.
Lithium stocks like Lake Resources and Vulcan Energy consciously advertise themselves as clean lithium companies by accentuating the environmentally friendly nature of their mining and extraction.
Cleaner mining practices will grow more important as the ESG trend strengthens across the world.
While lithium is a vital material for a sustainable future, extracting lithium is often not environmentally friendly.
BloombergNEF estimates, for example, that ‘each ton of lithium extracted from brine requires 70,000 liters of fresh water. Making matters worse, much of lithium mining happens in regions that are already water-stressed.’
These concerns prompted German automaker giants Daimler AG and Volkswagen AG to launch a study into the environmental impact of lithium mining in Chile — the second-largest supplier of the white metal.
Peer comparison approach
A detailed way to evaluate lithium stocks is by pitting them against each other on essential criteria like the stocks’ mineral resources, lithium grades, efficiency of extraction, mine life, and estimated project valuation.
A lot of this information can be found in feasibility studies released by the lithium firms.
Emerging lithium stocks also occasionally release peer comparison data themselves in a pitch to investors.
The comparison tables below were provided by Global Lithium Resources Ltd [ASX:GL1] in a May 2021 investor presentation:
But analysing lithium stocks is by no means easy.
Just because the price of lithium is going up doesn’t mean that every single lithium stock will also fare well.
To invest wisely, you shouldn’t indiscriminately throw cash at any stock with lithium in the title.
You must delve deeper into the economics, costs, and business model of each individual company.
This can be a hassle.
So if you’re interested in lithium stocks and the wider clean energy theme but not keen on sifting through feasibility studies and ore readings, we have a dedicated publication here at Fat Tail Investment Research that may be of service.
New Energy Investor shows you how to grab your stake in the great energy switchover as the world transitions out of fossil fuels and into cleaner, greener, renewable energy.
Helmed by James Allen in London and Selva Freigedo here in Melbourne, New Energy Investor hunts the best and brightest clean energy prospects on the market — long before many Australian investors get to hear about them.
If you want to invest in the wider lithium demand theme, you can also gain exposure to the wider industry via an ETF.
For instance, the ASX-listed lithium battery and energy-storage themed ETFS Battery Tech & Lithium ETF [ASX:ACDC] offers investors exposure to the energy storage and production megatrend, including companies involved in the supply chain and production for battery technology and lithium mining.
The future of lithium and battery tech
A way to analyse the future of battery tech is by contemplating what’s called a learning curve.
A learning curve is the relationship between price and cumulative installed capacity.
It is a concept often used to understand cost improvements in technologies of scale.
A technology’s learning curve can tell us how much the price of something falls for every doubling of the tech’s cumulative capacity.
Research suggests the learning curve for lithium-ion cells is 20.1%. Meaning prices fall an average of 18.9% every time the installed capacity doubles.
The lithium-ion cell learning curve tells us batteries are getting cheaper but hold more capacity.
The continuation of this trend also holds clues for the future.
While technological improvements have made EVs more affordable and democratic, the learning curve suggests there’s still a lot more the technology can achieve.
Can capacity reach a threshold for us to have electric airliners? Or electric cargo ships?
Electric vehicles are front and centre right now when it comes to discussing lithium and lithium-ion cells.
But if the global shift to green energy is permanent, applications of lithium-ion batteries will not be reserved exclusively for electric vehicles.
Substitutes and alternatives
Economists love to talk about substitutes and alternatives.
For instance, in 1980, Paul Ehrlich and Julian Simon made a famous bet on whether the prices of a bundle of natural resources would rise or fall over the ensuing decade.
Simon — who was an economist — won the bet as the real price of the bundle fell significantly.
Simon took on the bet because he thought any potential shortages of natural resources will be offset by countries and businesses developing substitutes, promoting efficient usage, discovering new supplies, or developing methods to extract greater proportions of existing sources.
A key takeaway here is that few goods are essential; much can be replaced.
Why should this concern our discussion of lithium and lithium-ion batteries?
The world’s rising battery demand can spur innovation and alternative technologies.
‘Lithium-ion is not a one-size-fits-all-solution’, as senior energy storage analyst Mitalee Gupta told Bloomberg in 2020.
Alternatives to lithium-ion using materials such as zinc, vanadium, or sodium are finding uses for many tasks, especially stationary storage used by utilities to capture renewable energy and deliver electricity to consumers hours later.
Another factor to consider for the future of battery tech is this:
According to BloombergNEF, in lithium-ion products, raw materials account for about 60% of the entire cost of the battery cell.
So when the lithium price is elevated or rising, substitute goods become more appealing to battery makers.
This can spur innovation and, like Julian Simon argued, lead to finding lithium alternatives to power battery cells.
Or to innovations that reduce a battery’s reliance on lithium, cutting the manufacturer’s costs.
The latter is already happening.
ASX-listed Lithium Australia NL [ASX:LIT] is working to establish a strategic market position for cobalt-and-nickel free lithium-ion batteries.
According to LIT, these batteries are longer-lasting and require less raw materials — including lithium.
These battery types are growing, especially after the release by BYD and Tesla of all-electric EVs powered by lithium iron phosphate batteries in 2020.
Electric vehicles and affordability: A China case study
In 2020, China — one of the largest EV markets — cut electric vehicle subsidies.
These cuts had the unintended task of incentivising local producers to shave production costs to be more competitive with ICE vehicles.
This has led to a larger than expected increase in the number of models using low-cost LFP (Lithium–iron–phosphate) batteries.
LFP battery share in China rose from 5% in calendar 2019 to 15% in calendar 2020, with even higher rates in 2021.
According to mining giant BHP Group Ltd [ASX:BHP], LFP chemistries offer ‘pedestrian performance characteristics (at best), but they have advantages in terms of lower cost, decent cycle life and thermal stability.’
However, BHP’s customer intelligence from the battery ecosystem implied that the rising LFP mix is a ‘China–specific matter in a specific customer segment: not a “back to the future” moment for the EV revolution globally.’
Time will tell.
Going back to BHP, the company released some research on the EV industry in 2019. Here is an interesting excerpt:
‘In the long run, well beyond the cost competitive tipping point versus internal combustion engines, as EV penetration gains pace across all light vehicle segments, we expect that a multiplicity of chemistries will emerge. This is a logical outcome of both a concerted research effort as well as the varied demands of customers in each of these segments.’
Later in its research brief, BHP mentioned something that could come straight from Julian Simon himself. BHP argued the high demand for EVs will lead to high innovation as firms are incentivised by high profit and cash flow possibilities.
‘Outlays on R&D respond to the profit motive and available cash flow, which are both elevated in high case worlds. In low case worlds, cash flow is constrained and firms tend to “settle” for incremental innovation in existing processes and technologies, with little financing available for “moon shots”. In such a world, there is a large degree of technological lock-in, with R&D aiming predominantly at thrift.
‘In the high case, nothing is fixed, everything is up for grabs and a major disruption is entirely possible.
‘Our views on some of the early stage technologies that might break through in time are summarised visually below. Note that Li-S stands for Lithium-Sulphur; LMR-NMC stands for Lithium-Manganese Rich; LNO stands for Lithium-Nickel Oxide.’
As if on cue, Li-S Energy [ASX:LIS] listed on the ASX in September 2021, specialising in a battery chemistry BHP mentioned.
LIS raised $34 million via its IPO; money it will allocate to render possible the commercial viability of lithium-sulfur batteries.
Citing much of what we’ve discussed earlier, LIS mentioned that the current battery cost (at up to 30% of total EV cost) calls for new capacities’ commercial lithium-ion chemistries are yet to deliver.
Accelerating demand will spur a need for a broader range of battery types, using a whole range of raw materials.
Speaking with Bloomberg, Venkat Viswanathan, associate professor of mechanical engineering at Carnegie Mellon University, said that ‘eventually, basically every device you interact with will probably have a battery inside it. And once you get to that scale, you’ll need a vast variety of cells.’
The point here is that other battery chemistries will likely come into the mix.
So it would be remiss not to mention hydrogen.
Hydrogen versus lithium-ion battery EVs
Hydrogen is seen by some as the future for passenger cars.
The hydrogen fuel cell electric vehicle (FCEV), for example, runs on pressurised hydrogen from a fuelling station and emits zero carbon emissions from its exhaust.
It can be filled as quickly as a fossil fuel equivalent and offers a similar driving distance to petrol.
In 2021, Toyota introduced the second generation of Mirai — one of the world’s first HFEVs.
In May 2021, the second-generation Mirai broke the world record for distance driven with one fill of hydrogen. The journey lasted 1,003 kilometres.
There are detractors, though.
Powerhouse automaker Volkswagen released a statement deriding hydrogen’s EV future.
‘The conclusion is clear. In the case of the passenger car, everything speaks in favour of the battery and practically nothing speaks in favour of hydrogen.’
The present issue with hydrogen FCEVs for many is efficiency.
As Senior Lecturer in Chemical Engineering at Aberdeen, Tom Baxter, noted:
‘The hydrogen produced has to be compressed, chilled and transported to the hydrogen station, a process that is around 90% efficient. Once inside the vehicle, the hydrogen needs converted into electricity, which is 60% efficient. Finally the electricity used in the motor to move the vehicle is around 95% efficient. Put together, only 38% of the original electricity — 38 watts out of 100 — are used.’
A cleaner, greener world ushered by electric vehicles cannot forget recycling.
After all, recycling is at the core of environmental best practices.
‘Reduce, reuse, recycle’, as the slogan goes.
And reusing and recycling lithium will be a major part of the industry’s future.
What happens to all the EV batteries when they wear out and what happens to all the scrap material generated in their manufacturing?
Electric vehicles aren’t a simple ticket to a cleaner world. Sustainable extraction and recycling will play a large role, too.
There’s also a more pragmatic reason for battery recycling.
As the world’s locomotive fleet switches from internal combustion engines to lithium-ion batteries, battery recycling will grow in importance to assuage fears high EV adoption will cause a shortage of lithium carbonate.
As a 2014 paper found:
‘If usable materials can be recovered from used batteries, less raw material needs to be extracted from the limited supplies in the ground. If the raw materials come from abroad, recycling domestically reduces the quantities that need to be imported, improving the balance of payments. In addition, significant negative environmental impacts can occur from mining and processing ores (eg, SOx emissions from smelting of sulfide ores, such as those that yield copper, nickel, and cobalt), and these are avoided if the materials can be recycle.’
Recycling in the resource sector isn’t a new development.
For instance, the US makes most of its steel and aluminium by recycling scrap metal from manufacturers and from discarded products such as demolished buildings, old cars and thrown away cans.
But recycling lithium-ion batteries currently poses challenges.
Because Li-on batteries are expected to last the life of the electric vehicle they support, they will not be ending their useful lives in large numbers for about 10 years.
Why is this important?
As researcher Linda Gaines noted in a paper on the future of EV lithium-ion battery recycling, automotive Li-ion batteries have only been in commercial use for a short while.
Large volume EV use is still ahead of us, all the while the batteries’ long shelf life ensures there’s not nearly enough batteries reaching the end of their lives to support large-scale recycling plants.
Due to the huge lithium resources and reserves, lithium from secondary sources (recycling) currently has no significant impact on global supply.
For now, of course.
Some scenarios predict a 25% supply substitution by 2050, with the biggest potential focused on the recycling of lithium batteries.
And the above graph shows recycling will play a huge role in lithium production — not only in the coming years but in the coming decades.
ASX lithium-ion battery recycling stocks
Ecograf Ltd [ASX:EGR]
Ecograf seeks to become an integrated battery anode materials company supplying the battery storage and EV manufacturing market.
Ecograf is also progressing with a proprietary graphite purification technology to recycle anode material and anode production scrap.
It has also developed a process to recycle high-purity graphite from spent LIBs.
Lithium Australia NL [ASX:LIT]
Lithium Australia is developing means to extract lithium from spodumene waste and produce LIB components.
LIT is also developing a hydrometallurgical technique that recovers lithium from spent LIBs.
Its R&D runs in conjunction with Murdoch University.
Neometals Ltd [ASX:NMT]
Neometals is also developing a proprietary process to recover valuable materials from spent LIBs as well as cell production scrap.
NMT says its processing flowsheet targets the recovery of >90% of all battery materials from LIBs that might otherwise be disposed of in landfill or processed in energy-intensive pyrometallurgical recovery circuits.
In a joint venture with German company SMS Group, NMT plans to offer recycling services, catering for the European market.
Lithium explorers and junior developers are often expected to secure additional capital to fund their exploration and development costs.
This is especially so if feasibility studies indicate a lithium company has a viable project on its hands.
Since junior lithium stocks are largely pre-cash flow companies, they will be reliant on a mixture of equity, debt, and external capital for funding.
But there’s no guarantee junior companies will secure the funds necessary to keep the company running.
Additionally, tapping the market for fresh funds may dilute the equity stakes of existing shareholders.
There are other financial risks to consider.
Since junior lithium stocks may not start producing product for years to come, they must rely on cost projections when deciding how much cash to keep on hand to fund the project before it can begin paying for itself.
But accurate estimates of project costs will depend on the completion of feasibility studies. These feasibility studies may end up throwing up capital costs exceeding prior assumptions.
And, of course, another big risk is the lack of guarantee junior lithium explorers will end up making a positive investment decision for their project.
Exploration demands high upfront capital expenditure. This means exploration risks cross over with the financing risks we outlined earlier.
A junior explorer also incurs risk if it does not accurately interpret its geochemical, geophysical, and drilling data.
Of course, as price-takers, lithium companies are also exposed to commodity price fluctuations. If a company has higher costs than its peers, a drop in the price of lithium can strain its margins.
And given the global nature of the lithium-ion industry, lithium stocks also incur currency fluctuation risks.
A rising Australian dollar may make an Australian lithium stock less attractive to international importers.
Once in production, a developing lithium company may incur risks like plant and equipment breakdowns as well as metallurgical, materials handling, and other technical issues.
Additionally, an unexpected jump in operating costs could reduce the company’s profitability and free cash flow negatively impact its valuation.
Lithium brine projects also have operational risks relating to control the temperature, reagent dosage, solids loading, and gas pressures at altitude.
Finally, the actual characteristics of a lithium stock’s reserves may differ significantly from its initial ore estimates or interpretations.
This can materially impact a company’s production relative to original expectations, expectations that influenced a company’s current valuation. Note: Any stocks or ETFs mentioned in this report do not constitute formal recommendations but are mentioned merely as examples for your consideration.
Concluding thoughts: lithium and the future
In 2015, world leaders at the UN Climate Change Conference in Paris reached the historic Paris Agreement. It set long-term goals guiding all nations to substantially reduce global greenhouse gas emissions.
To mark its seriousness, the Agreement is a legally binding international treaty, with 190 countries plus the European Union joining.
As we’ve discussed earlier, the energy sector contributes to 72% of the global human made greenhouse gas emissions (where transportation contributes 15%).
If nations are to uphold the Paris Accords, the energy sector will be a big focus.
And that’s why electric vehicles — and lithium — are set to play a big role in the coming decades.
But investing in this green transition won’t be straightforward, especially with lithium as the focus.
The perennial influence of the supply and demand equation on a commodity like lithium, the emerging capacity to recycle lithium-ion batteries, innovations in extracting and processing the metal, and the unique nature of individual lithium stocks all play a role in any potential investment decision.
I hope this guide helped you tease out all these complexities. If you’re looking for a deeper dive in to specific lithium stocks, why not take a look at our 5 stocks to watch in 2021 and beyond?


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Less than a month after launch, Disney’s new streaming service, Disney+, was hit with another round of technical difficulties late Tuesday night. According to tracking site DownDetector.com, users began experiencing issues with the streamer at around 11 p.m. ET, with reports quickly surging to nearly 2,500 within just an hour’s time.
The disruption, mostly affecting those subscribers located across North America, with widespread reports of issues along the West Coast, largely affected a number of features on the platform. Of the reports made, 52 percent were related to login issues, while 47 percent had to do with difficulty streaming Disney’s expansive catalogue of content.
Subscribers in the Netherlands, Australia and New Zealand, the only three other countries where the service is currently offered, also experiences outage issues.
“[What the f—] is going on. Trying to watch a movie for the last 2 days and can't watch anything???” one user wrote. “Shows its loading and the screen is just black.”
“Can't log in via Chrome browser (on laptop, phone and tablet) can log in via their phone app though. Which is a bit inconvenient at this moment,” another commented.
“Is it just me or is the website just a blank peace of schitt right now? It's 12/04/2019 1 AM and this thing has been down for at least an hour as far as I'm concerned,” a third reported.
The issue thankfully seemed to be quickly resolved, with reports almost immediately dropping from well over 2,000 to under 100 shortly users first raised the red flag. As of this posting, Disney+ appears to be working normally.
At this time, Disney has not addressed the outage. The Tuesday occurrence marks the second time the streamer has experienced such issues in its less than a month lifespan. On its Tuesday, Nov. 12 launch, Disney+ was inundated with technical difficulties as subscribers eagerly flocked to the service.
With reports on DownDetector.com quickly surpassing the 7,500 mark, subscribers in the United States, parts of Canada, and the Netherland reported issues related to video streaming issues and log-in.0comments
“The consumer demand for Disney+ has exceeded our high expectations,” Disney responded to the outage in a statement. “We are so pleased you’re excited to watch all your favorites and are working quickly to resolve any current issues. We appreciate your patience.”
Despite the launch day technical difficulties, the streamer still managed to surpass 10 million subscribers within just its first few days of existence.

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Ford Motor CO
2017 Ford F-150 Raptor: What A Beautiful Mess!
The F-series, best known for the popular F-150, has been America's best-selling truck for 40 consecutive years.
U.S. Car Sales In April Dropped 4.7% As Carmakers Experience Market Slump
Car makers in the United States are experiencing a precipitous downhill drive with U.S. car sales in April dropping by about 4.7 percent. This market slump has been going on for four straight months.
Ford Unveils New 'SmartLink' Technology, Makes Old Cars Smarters
For has developed a new vehicle innovation, where you won't have to be spending thousands of dollars each year for the latest vehicle technology. Introducing SmartLink, a device that plugs into contemporary cars to add some high-tech features to your everyday driving.
Discounts Still Not Enough To Dampen US Auto Sales Continuous Decline This Year
This comes as no surprise. Analysts have already expected the total US auto sales to decline for October.
What Does The Software Deal With Ford Mean For Blackberry?
BlackBerry can now get back on track with Ford's software deal.
Qualcomm Deal With NXP Might Capitalize On The Automotive Industry's Path Towards Full Autonomous Cars
As the race has begun on building the fully autonomous cars, chip makers know the value of providing those needed chips.
Fiat Chrysler, GM To Spend About $900 Million Worth of Canadian Plant Upgrades
The automakers promised to upgrade their Canadian plants. Ontario also steps up to save the province's auto sector.
Toyota Official Calls Proposed Changes In California Self-Driving Rules Preposterous
A Toyota official has recently criticized California's proposed changes in self-driving rules.


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Bonnier Corp.’s Florida Travel & Life is launching a branded event series called “The Good Life” in November.
The series, designed to further engage readers in the brand, is part of a new wave of magazine-launched events. Just today, I posted a story about the marketing efforts of Sobefit magazine, which will depend heavily on events to spread its brand name. We’ve also covered events by Niche Media, TVGuide and a host of other magazines in the pages of DMNews this year. Events, my friends, are hot.
And why wouldn’t they be? Today’s consumers demand entertainment in their advertising, and what’s more entertaining than open bars, swanky locales and the possibility of a celeb sighting?
Particularly with lifestyle magazines, events are a great way to show off that, yes, your editors can talk the talk and walk the walk when it comes to living it up with panache. Bonnier’s latest series, for instance, will feature food and wine tastings, travel and photo tips from the editors, art, fashion, entertainment, and even wealth management seminars — which I’d say pretty much encompassing all the primary concerns of Florida’s fashionable set.


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Tesco's pre-tax profits fell by 24% to £1.39bn over the first half of its financial year to the end of August 2013.
The retailer has seen difficulty across the globe, with profits falling 67% in Europe to £55m and in Asia (excluding China) profits fell 7.4% to £314m. But in the UK Tesco's profits rose 1.5% to £1.13bn.
The retailer said it had seen strong growth in its online grocery with a 13% increase in the UK and a 54% increase overseas.
Tesco chief executive Philip Clarke said Tesco had signed 40,000 more customers to its Delivery Saver subscription scheme in the first half of the year. The company had also rolled out its Click and Collect drive-through collection points to almost 200 locations.
Additionally, it has opened a fifth dotcom-only store earlier this year and will open its sixth later in October 2013. The dotcom-only supply the demand of online grocery shopping demand, especially in urban areas like London.
18 months ago, Tesco committed to ramping up its online division as part of its strategy to invest £1bn following disappointing UK sales. The grocer planned to invest £150m across its dotcom businesses in anticipation of further migration of customer shopping habits to online channels.
Meanwhile, grocery store competitor Sainsbury’s saw total sales for the second quarter of this year to the end of September 2013 rise 5%. Sainsbury’s total sales for the first half of the year rose 4.4%.
Chief executive Justin King said: "Our groceries online business grew by over 15% in the quarter and is now worth over £1bn in annual sales."
During the quarter Sainsbury’s launched its mobile offering as a joint venture with Vodafone. “Developing new business remains an important part of our strategy,” said King.
The service – which went live in the summer – hopes its large customer base, footprint of stores across the UK and online presence, merged with Vodafone’s technology, will be a solid springboard for the new service, despite entering an already crowded market place.
Tesco’s focus on becoming a multichannel retailer has led the company to offer the service in 50 cities in nine markets outside the UK.
“We have continued to invest in improving the integration of our customer offer across all of our store formats and channels and last month we launched ‘Hudl’, our first tablet computer, which offers instant access to Tesco’s full range of digital services, all in one place,” said Clarke.
The grocer has also piloted three new Tesco Extra stores in the UK, which claim to showcase a new type of retailing experience. “These bring together our best fresh food offer, our latest thinking on general merchandise, our next generation clothing departments and the introduction of our new casual dining concepts,” said Clarke.
Speaking to Computer Weekly last week, Tesco chief marketing officer Matt Atkinson said the company is using data analytics to push forward its multichannel strategy. “We’re a really good data business because of Clubcard,” he said.
Tesco is using technologies such as augmented reality in its clothing department to provide a richer environment for the customer.
Atkinson said Tesco plans for the Clubcard to become digital by the end of the year, allowing the paper coupons that customers receive to seamlessly integrate with the mobile app so that, at the point of sale, promotions will be instantly recognised.
But Atkinson also said that a fully integrated digital mobile wallet – the Tesco Home Plus – should be launched in the UK in about a year. It is already live in South Korea, where customers can shop and pay using their mobile wallet app.
Because Tesco has a bank, its current strategy is to work with Tesco Bank to provide the wallet, which will integrate with other cards. Atkinson says this would attract some of their most loyal customers – the ones who already have Tesco Credit Card, which they get Clubcard points for using.


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Tapmad, an on-demand video streaming platform, is all set to live stream the matches of the seventh season of Pakistan Super League (PSL) on its digital mediums without advertisements for its subscribers.
Tapmad has acquired the rights to digital broadcast in HD format from PCB in the recently held bid. Tapmad has been the digital streaming partner of PSL since its first season and is known for its quality and smooth streaming throughout the season, making it a preferred choice for viewers. Furthermore, this year, Tapmad is offering new users a one-week free trial to stream the PSL 7 season before availing of the subscription.
Commenting on the occasion, CEO Tapmad, Yassir Pasha, said,
Tapmad is proud to be streaming PSL for the seventh consecutive year. Our subscribers will now be able to stream the entire PSL 7 season live in HD and ad-free exclusively on Tapmad. So now one can enjoy the PSL season anywhere, anytime, and through any device, be it on the web, on phone, or on a smart TV. In addition, we have both, an iOS and an Android app, along with the option to cast the player from your mobile directly onto any smart TV.
Pakistan is a predominantly cricket-obsessed country, and the nation embraces cricket like no other sport. The COVID-19 pandemic has made physically attending the matches difficult, and the demand for online live-streaming has seen a significant rise.


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Ever since water-based paints and finishes began carving out a market for replacing solvent-based products, claims for the amount of solvent these products contain have been getting increasingly lower. That is, until a few years ago when some products actually began claiming zero VOCs.
I’ve been suspicious of this claim ever since I first saw it. Even though resin manufacturers have been getting better at making resins that form a film with less and less solvent, getting to zero solvent has always seemed unlikely to me, especially with the pigment used in paint.
Apparently, I wasn’t the only one to question these marketing claims. The Federal Trade Commission (FTC) has just settled with four paint companies: Benjamin Moore, ICP Construction, YOLO Colorhouse and Imperial Paints, who have agreed to orders to stop making these claims unless they can prove them.


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MTS India launched its high-speed mobile broadband service, MBlaze in 10 more towns – Mahe, Peringanur, Neyyattinkara, Ambalappuzha, Aroor, Mannarkkad, Irinjalakkuda, Edappal, Taliparamba, Payyannur. This latest roll out extends the current MTS MBlaze footprint to 50 towns across the Kerala circle.
MTS provides High Speed Mobile Broadband services in over 200 Indian cities including the top five metros. The company is rapidly expanding its high speed data (HSD) network and currently addresses over 92% of data potential across India .
MTS in Kerala circle has a retail strength of 40 branded retail outlets, 7500 mass retail outlets and 100 organized retail outlets


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Tencent Holdings is reportedly in talks to invest $200 million (£161.2m) in Warner Music Group.
The Wall Street Journal stated that the Chinese tech giant was set to secure the stake in WMG ahead of the major’s IPO on June 3.
Warner Music is said to be lining up institutions, alongside Tencent, who would contribute $1bn (£800m) towards an fundraising goal of up to $1.8bn (£1.45bn).
WMG is expected to price its IPO on Tuesday (June 2), with the stock then launching under the symbol WMG on the NASDAQ on Wednesday (June 3).
Warner has indicated a guide price between $23 and $26 per share. The offering consists entirely of secondary shares to be sold by Len Blavatnik’s Access Industries and other related selling stockholders. WMG will not receive any proceeds from the IPO offering.
The major had initially delayed its IPO due to market turbulence resulting from Covid-19.
In March, Tencent finalised a 10% stake in Universal Music Group and launched a partnership between the major and Tencent Music Entertainment.
Tencent and WMG have not commented on the report.


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Police are warning small businesses to be aware of fraudsters claiming to work on behalf of the local police service selling advertising space.
There have been several reports of small businesses across the United Kingdom being targeted by fraudsters who claim to be working on behalf of the local police service.
In each case, the fraudster attempts to sell the victim advertising space in Emergency Service and community publications that do not exist.
Charges range between £100 and £600
Detective Constable Matt Stevens, from the Criminal Finance team in Islington said: “The victims are being charged between £100 and £600 a time to buy advertising space in publications that claim to sponsor the work of the emergency services. The fraudsters state that they are working on behalf of their local police service and have even on occasion, presented themselves as police officers.
"I hope this will serve as a warning to the business community that the police do not sell advertising space in any publications and prevent further businesses falling victim to this crime.
“If you are contacted by anyone claiming to be a police officer or working on their behalf, and you have reason to doubt their authenticity, ask them for their name, rank, shoulder number and police station. You can then confirm their identity and the legitimacy of their enquiry by calling that particular force or by dialling the police non emergency number 101.”
Read more about the fraud on the Met Police website.
Please note: Action Fraud is not responsible for the content on external websites.
If you are a victim of fraud you can call Action Fraud on 0300 123 2040 or use our online fraud reporting tool.


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Apparently 2014 really was the Year of the Promo. While at the time, it seemed to be just another step in the logical progression of Genuine cosmetics flooding our fair shooter as developers everywhere ticked another box in their marketing checklists to get people to play the latest game from <insert company here>, it appears that 2015 is not following in those footsteps and the flood of promos that assailed TF2’s filesize for the last few years has completely dried up.
Not counting competitive TF2 tournament medals, the last Genuine-quality promotional items added to TF2 as a cross-franchise publicity perk were the results of the TF Tomb Contest 2014, where a collection of community-created items were chosen by Valve and Square Enix to promote the upcoming Laura Croft and the Temple of Osiris. This was on December 3 2014, and you’ll notice this wasn’t even a normal promo release; they got the community to make the items for them. The same day the Binding of Isaac: Rebirth promo came out, which was a more traditional Genuine-quality item release, but that doesn’t change that it’s been over six months since any new promos have entered Team Fortress 2.
The implications are rather disheartening. We’d all pretty much taken for granted that the glory days of TF2 are past, with huge updates full of new weapons far less common, and even bugfixes are rare and usually consist mostly of “fixed a rare crash caused by something tiny and technical that players never see”. But promo items were immune to the chronicled and accepted early-year drought, to the point that people often asked Valve to stop bloody adding more of the things. I guess they got their wish.
This trend has unfortunate implications beyond just TF2’s players and developers. It’s showing that TF2 doesn’t hold the market value it once did even in the eyes of the entire PC gaming industry. Just like how every new movie used to make logo-stamped plastic lunchboxes and floppy disk-era games always came bundled with feelies, the complete abandonment of a once-common marketing gimmick can (and often is) lightning fast. Promotional campaigns are designed to spread the word as far as possible with whatever press budget allotted, and it’s rare for a company to stick their neck out for old-timey customs unless it’s a calculated gambit to hearken to the fans of an older era (or if the product in question is itself quite old, like Postal 2‘s recent expansion pack.) But I don’t think TF2 promos are dated enough a concept yet to score any points with the vintage crowd.
Of course, as previously mentioned, not everyone may see their absence as a bad thing. No new cosmetics means the file size isn’t getting larger and TF2 can settle into its retirement years comfortably without being constantly poked and prodded with new injections. Alternately, perhaps the dearth of promos is less permanent and has just joined most other content releases as “end of the year exclusives”. And with June finally upon us, the early-year drought usually ends right around now, so it’s possible I spoke too soon. I wouldn’t be disappointed if TF2 proved me wrong.


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UBS analyst Robert Carroll said Thursday that Wal-Mart’s “selloff appears overdone.” And investors appeared to show some agreement as Wal-Mart stock rose 3% to $59.04 to be the biggest gainer in the Dow.
Shares of the retail giant had fallen for three straight sessions following publication of a New York Times article alleging bribery in Mexico.
Looking at the past Foreign Corrupt Practices Act fines and settlement actions, Carroll found most of the fines are in the range of 1% to 2% of companies’ sales, Carroll said. That means Wal-Mart could be subject to potential fines of $5 billion to $9 billion, he said.
For instance, the biggest amount paid as a percentage of sales was a Halliburton unit’s payment of $529 million, or $3.2% of its sales in 2009 while the largest settlement by dollar amount was paid by Siemens at $1.6 billion, or 1.6% of its sales, in 2008, the analyst said.
If past cases are any indicator, most FCPA investigations take between two and six years to be resolved.
Regarding Wal-Mart’s /quotes/zigman/245476 /quotes/nls/wmt WMT potential legal cost exposure, Carroll, citing research done by three professors, said total costs of internal probe and legal fees typically represent 1.1% of total market cap. That would equal to $2.76 billion in investigation and legal fees based on Wal-Mart’s $212 billion in market cap the day before the Times article.
Outside of Mexico, the analyst said Wal-Mart has little FCPA risk exposure in most of its other international markets except in three countries: China could raise the biggest FCPA concern in Wal-Mart’s overseas portfolio. In Brazil, increased scrutiny could delay somewhat the pace of new store openings, a key part of Wal-Mart’s growth strategy there, he said. Given the company’s recent entry to Africa, he thinks the company’s FCPA risk profile there is “meaningfully reduced.”
- Andria Cheng


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Over 20,000 entrepreuners flocked to Greensboro, NC earlier this month for a fast-paced and knowledge-packed 3 days in the Greensboro Coliseum. To see this many people coming together with a united purpose and unified goal is beyond inspirational – but the impact we make at International Convention reaches far beyond the walls of Greensboro Coliseum.
The word is getting out about Market America | SHOP.COM and The Shopping Annuity – thanks in large part to massively successful events like the 2015 International Convention. In fact, this week we’ve seen some great press coverage for #MAIC2015.
If you are not already sharing these exciting stories with potential business partners and customers, you should be! These news stories are the perfect business tools to use to build momentum in your organization, especially after a powerful event such as MAIC 2015. Read on to see who is catching on to The Shopping Annuity:
Photo of JR walking the high-wire appeared on Times Square with headline (above photo) “SHOP.COM CEO, JR Ridinger, launches The Shopping Annuity while walking a high wire”
Keep the conversation going! Share with anyone who will listen just how amazing the 2015 Market America International Convention was!


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Samsung joins OpenPOWER Foundation
Bill_Buros 270000QDEP Visits (4235)
Continued interesting news around the OpenPOWER Foundation as Samsung was recently announced to be joining the organization.
IBM provided a short news rele
The OpenPOWER foundation is an open development alliance based on IBM's POWER microprocessor architecture. An exciting new realm of innovation and direction.
The press release highlighted several of the key Leadership positions for the Foundation for 2014.
OpenPOWER was announced back in the summer of 2013. See


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In an interview with the Chinese website Tech Sina, Lenovo SVP Chen Xudong revealed that the Google Play Store will eventually make a comeback in China before the end of the year, after a gap of almost six years. In addition, the Lenovo executive has also shared some details about Motorola’s plans for this year. Motorola’s high-end smartphones often lacked the feature of fingerprint sensors.
Also Read: What’s next for Motorola devices.
First up, all the Moto-branded smartphones in 2016 will sport fingerprint sensors, a feature that was absent from the brand’s devices that were launched last year. It’s worth mentioning that some of the first devices to boast fingerprint sensors were launched by Motorola, but the company didn’t embrace the functionality for all its devices.
On top of that, the company would not launch any phone this year with a display sized smaller than 5-inches. As for the design, the upcoming Moto-branded phones will receive tweaks in design to better suit consumers from both eastern and western markets. Also, Lenovo and Moto’s user interfaces will be merged into a brand new UI that will be unveiled in 2017.
Following up on the brand’s recent announcement, Xudong further added that the Moto branding will be used for high-end devices, and the company’s Vibe series will target the budget smartphone segment.


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May has been a busy month for the U.S. Food and Drug Administration, with several prominent recalls issued. Recall announcements are tricky, as companies and agencies do their best to get the word out without causing a panic or damaging a brand's reputation too much. Here are 6 of the biggest recalls issued in May in case you missed them.
The FDA typically asks companies to issue recalls voluntarily, then helps spread the word. In many of these cases the recall is made "out of an abundance of caution," with public health taking top priority. Food recalls are particularly tricky to track since fresh food is distributed on a regional basis. If you want to keep up with recalls on a day to day basis, the FDA has been expanding its resources for that effort with social media pages and live newsfeeds.
In the meantime, we've collected some of the most prominent recalls of the last few weeks with the widest-reaching impact to get you started. Here's a look at May's biggest food recalls.
Recalls are often issued due to contamination, but norovirus is not the most common among them. Below Zero brand frozen raspberries from Mantab Inc. were recalled earlier this month because they could be contaminated with the contagious illness, which can lead to severe gastrointestinal distress. Check out the full details on this recall here.prevnext
pre-cooked bacon has risen a lot in popularity in recent years, so this recall may impact a lot of households. Several bacon-based products from Smithfield Packaged Meat Corp. were recalled after being sold at Sam's Club stores around the U.S. Find the list of products and the latest information here.prevnext
On a more whimsical note, Chocolate Wonka Bars were recalled earlier this month not due to any contamination, but due to a counterfeit scandal. The chocolate bars produced by this counterfeit operation did not meet the rigorous public health standards of the originals, and in some cases contained undeclared allergens. There's more information here on that recall.prevnext
Some Jif peanut butter products were recalled as well this month due to possible contamination with salmonella. Considering how common this brand is, it's important to check the full details here to see if your pantry was impacted.prevnext
Another issue with ready-to-eat meat cropped up this month with Black Forest Ham produced by Plumrose USA. A batch of the product was potentially undercooked, presenting a danger to consumers. Get the latest information on that recall here.prevnext
Finally, Mars Wrigley Confectionery recalled some Skittles, Life Savers and Starburst candy products When they found tat there may have been metal strands embedded in the gummies. Hopefully, these products were tracked down at the retail level, but if you have some in your cabinet you can track down the recalled product numbers here.prev


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Amiri Construction, based in Fareham, like to recognise their supply chain partners and present a monthly award to someone that has gone that has gone the extra mile.
Our very own Helen was recognised for the month of June for making sure essential deliveries of bricks and blocks made it to their Nightingale Lodge project.
Nick Moses from Amiri said “Helen's more than deserving of it - she helped us out big time when the sh*t was hitting the fan globally! Never missed a delivery always pleasant to deal with and cooperative."
And it came as a bit of a shock to Helen!
“I must admit I was pleasantly surprised to be picked – especially as I am the first female to be awarded it”, said Helen.
“The existing supplier we were sourcing the bricks from was not able to supply all of the time due to the factory being closed. But the relationship we have with them stood in good stead and we were able to supply any extra loads needed to Amiri.
“I think this is what Amiri appreciated - we sorted out any problems and found a solution – always keeping them in the picture.”
Well done Helen!
To find out more about our brick library and our brick matching service, click here.


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The battery allows for a 50 percent reduction in the number of cells and a 47 percent reduction in the number of Pack parts, resulting in a 30 percent increase in productivity, according to Eve Energy.
(Image credit: Eve Energy)
Chinese lithium battery maker Eve Energy has announced a new generation of energy storage batteries with twice the capacity of the industry's current mainstream high-capacity cells.
Eve Energy unveiled the energy storage battery, which it calls the LF560K, with a large capacity of 560 Ah at a launch event in Huizhou, Guangdong province, on October 20, according to a press release today.
The LF560K battery is based on CTT (Cell to TWh) technology, a cell technology for TWh-class energy storage scales that reduces the cost of cells and energy storage systems, Eve Energy said, adding that delivery of the cells will begin in the second quarter of 2024.
The LF560K cell reduces total system cost and can store 1.792 kWh of energy in a single cell with a cycle life of more than 12,000 cycles, according to the company.
Compared to the LF280K battery, the LF560K battery allows for a 50 percent reduction in the number of cells in an energy storage system and a 47 percent reduction in the number of Pack parts, resulting in a 30 percent increase in production efficiency, the company said.
Eve Energy aims to have 100 GWh of energy storage battery capacity by 2025, it said.
Recent rumors of battery shortages are haunting the energy storage industry.
Since the end of September, a continuing shortage of battery supplies has led to a common suspension of orders by energy storage system manufacturers, China Energy News reported in an October 18 story.
The worst current shortage of cells is for large cells with a capacity of 280 Ah. They have higher energy density and use fewer parts than 50-100 Ah cells, which can result in significant cost savings in investment, according to the report.
CATL introduced cells with a capacity of 280 Ah in 2020, the first battery manufacturer to begin offering such products.
Battery makers including Eve Energy, CALB and Gotion High-tech are also producing such cells, but full capacity release will take some time, according to a report in China Energy News.


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The organizers for the 2020 New York Auto Show have postponed the event due to the worsening coronavirus situation in Manhattan and the surrounding area.
In a statement released this week, the Greater New York Automobile Dealers Association, which owns and operates the New York Auto Show, announced the show will now be held from August 28 through to September 6, 2020. The press days for the show will be hosted on August 26 and 27.
“We are taking this extraordinary step to help protect our attendees, exhibitors and all participants from the coronavirus,” Mark Schienberg, president of the Greater New York Automobile Dealers Association, said in a prepared statement. "We have already been in communication with many of our exhibitors and partners and are confident that the new dates for the 2020 Show will make for another successful event."
Organizers had previously planned to go forward with the show, touting the abundance of hand sanitizer they would have on hand for attendees. The pressure to cancel or postpone the show ramped up in recent days, however, after the coronavirus continued to spread rapidly throughout the United States.
Other major conventions, such as the SXSW music and technology conference in Austin and the E3 2020 video game conference in Los Angeles were also called off this week. The Geneva Motor Show, largely considered to be the most prolific and important annual auto show, was cancelled on short notice earlier this month due to coronavirus, as well.


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Zoetis reports improved profitability, driven by "successful launch of several new products" and strength of its portfolio.
Kraft Heinz has until March 17 to make final bid or withdraw.
Animal health company looks to consolidate recent acquisitions and enlarge production sites in coming year.
Company preparing to begin construction of shrimp production facility in spring of 2018.
Indices for electronics and agricultural raw material trade below trend.
Transaction expected to close at end of February and will enhance US Foods' ability to serve customers in Northeast.
Total export value falls from peak in 2014, but pace has slowed.


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FSA: Existing Ucis customers could lose out
Regulator admits new rules could lead to increased costs and liquidity problems for existing Ucis clients.
Investors with money already in unregulated funds could suffer detriment through liquidity issues and delays to redemptions, the FSA has admitted.
It is the first time the regulator has acknowledged such risks, in spite of a similar ban on the sale of life settlements funds triggering the suspension of the EEA Life Settlements fund last year.
In its consultation paper on a proposed ban on sales of unregulated collective investment schemes (Ucis) to retail investors, the regulator said investors could lose out even before the rules come into force.
The FSA said: “There is a risk that existing customers may react to the consultation and request redemptions that may in turn lead to liquidity problems and, possibly, to capital losses for customers.”
The admission comes eight months after the FSA’s publication of a similar ban on the sale of life settlements products triggered a wave of redemptions from the Guernsey-based EEA Life Settlements fund, leading to the fund’s suspension from trading. Investors in the fund are still unable to withdraw money.
“In the short term, at least, this may lead to liquidity issues for some products where new investment is reduced but outgoings continue,” the FSA said.
“Existing customers in these products may find that there are delays, costs or other difficulties in accessing funds... due at least in part to the illiquid investments often held in non-mainstream pooled investments.”
However, the FSA emphasised that it had not banned advisers or distributors from providing ongoing services to clients already invested in Ucis. Advice to hold or sell Ucis is unaffected, but advice to top up or otherwise increase exposure to Ucis will be affected.
Responses to the FSA’s consultation must be submitted by November 14. Final rules are expected in the first quarter of 2013.


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Online banking service Egg has admitted to a flaw in its software that allowed credit-card accounts to be accessed without authorisation until yesterday.
The defect, which arose from software actually designed to improve security, meant that people could still access a user's account even after they thought they had signed off. The defect only affected Netscape 4.6 browsers, and could only be worked around by closing the browser. The problem was fixed Thursday, according to Egg.
Two weeks ago Egg introduced a log-out button on its site designed to automatically remove the security cookies from a user's computer. Unfortunately a problem with the software enabling this feature led to the security hole.
Although this is just the latest in a long line of concerns over Egg's security measures, Pete Marsden, director of information technology at Egg, does not see this problem as a major concern. "There were absolutely no instances of anyone exploiting this," he says. "We have no concerns about it at all. As soon as it was brought to our attention, we fixed it."
Marsden also promises that the situation has been entirely remedied adding, "It is now browser independent as we don't want to be at the behest of browser manufacturers. We are always in the process of updating our security."
Egg has in fact introduced a "browser health check" service to ensure that there browser are entirely compliant with Egg's security measures.
Egg's dubious security record does not seem to have affected its prosperity. The online arm of the Prudential, Egg has issued more than 150,000 cards to customers and receives approximately 3,500 applications each day.
See also: the e-commerce special.


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Chemena Kamali is the new woman at Chloé, following Gabriela Hearst’s exit this month. President and CEO Riccardo Bellini welcomed her in a statement this morning. “[Chemena’s] extraordinary creative talent, extensive experience and unique connection with the brand’s legacy and values make her a natural choice for the maison. [Her] vision, inspired by her love for the brand, will truly celebrate Chloé’s unique DNA… I am excited to see [it] come to life.”
The 41-year-old German designer, a Düsseldorf native, has already logged two stints at the label founded by Gaby Aghion as a resource for luxury ready-to-wear in 1952, when Paris fashion was still dominated by haute couture houses. Chloé’s free-spirited aesthetic was born in those post-war years, when Aghion pioneered a more liberated, easier way of dressing than counterparts like Cristobal Balenciaga and Christian Dior, whose garments were heavily structured – and often just heavy.
Kamali began her career at Chloé, working on Phoebe Philo’s team, before receiving her Masters at Central Saint Martins under Louise Wilson, and after working at Alberta Ferretti and Strenesse in Milan returned to Chloé to work under Clare Waight Keller as design director from 2013 to 2016. That year, she joined Saint Laurent, as Anthony Vaccarello assumed the creative director role at the Kering-owned brand, working closely with him as women’s ready-to-wear design director.
In a statement, Kamali said, “My heart has always been Chloé’s. It has been since I stepped through its doors more than 20 years ago. Returning feels natural and very personal.”
Kamali, who starts today, has been widely rumored to be next in line at Chloé since the summer, when her predecessor Hearst’s exit was announced.
Her appointment comes amidst online umbrage generated by the announcement last week that Seán McGirr would replace Sarah Burton at Alexander McQueen, another white male joining the ranks of creative directors at luxury fashion brands in Paris and Milan. Karl Lagerfeld held the creative director role at Chloé for many years, but otherwise the maison has a long history of female leads, from Stella McCartney and Philo, to Hannah MacGibbon and Waight Keller, to Natacha Ramsay-Levi before Hearst. Many of their designs will be seen in the exhibition, “Mood of the Moment: Gaby Aghion and the House of Chloé”, opening this week at the Jewish Museum in New York.
Kamali’s first collection for the brand, for pre-fall 2024, will be shown in Paris in January, followed by her runway debut in February.
This article was originally published on Vogue Business.
- Chloé Spring 2024 Ready-To-Wear
- Alexander McQueen Taps JW Anderson’s Seán McGirr as Creative Director
- “I Feel Like I’ve Been Preparing for This My Entire Life”—Peter Hawkings Is Ready For His Tom Ford Debut
- ‘I Want People to Fall in Love With Gucci Again’: Sabato de Sarno Shares His Plans for the Kering Brand


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In a post on its official website, PassCamp has announced the closure of its product.
“It is with a heavy heart that we must announce the closure of our product, PassCamp,” the post read. “Despite our best efforts and tireless work, we were unable to achieve the results we expected. Effective Aug. 1, PassCamp will no longer be available, and all user accounts will be closed permanently.”
To ensure a smooth transition, PassCamp urged users to take immediate action, advising them to log in to their PassCamp accounts and export all of their important data as soon as possible. PassCamp also informed its users that it has disabled payments for app usage and that “no further payments will be collected and no other actions are required.”
The company also apologized for the disruption of workflow the termination might cause to users, acknowledging the importance of PassCamp in the everyday lives of some users.
“We know that PassCamp has been an essential tool for many of you, and we are truly sorry for the impact that this decision will have on your daily operations,” the post read.
As part of the announcement, PassCamp stated that it has partnered with NordPass to provide PassCamp users with a great deal on a password manager, which includes a free 3-month subscription for business users.
PassCamp also expressed its gratitude to its loyal community.
“Your support, feedback, and engagement have been invaluable to us, and we are grateful for the journey we have shared,” the company said.
PassCamp is a password management company that provided users with a secure and convenient solution for managing their passwords. With a focus on data protection, PassCamp offered a robust platform that allowed individuals and organizations to store and organize their passwords in an encrypted and easily accessible manner.
Source of Article


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iOS 5 has been released, iPhone and iPad users rejoice!
And... there it goes - Apple has finally released iOS 5 for owners of the iPad, iPad 2, iPhone 4, 3GS and soon, the 4S. A brand new Notification Center, Twitter integration, iCloud, iMessage, mail and Safari improvements, as well as many other new features are waiting for you behind that "Update" button in iTunes. A major software release? You bet! Stay tuned for our coverage of the new OS, while in the meantime, why don't you quickly refresh your memories reading our article on the new stuff that has made its way into the updated platform!
P.S. Psst, jailbreakers, it might be wise not to rush the update just yet...


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IT sector veteran and Happiest Minds’ founder Ashok Soota has made it to the Hurun India rich list for the first time, backed by a bumper IPO of his company.
With a wealth of Rs 3,700 crore, Soota’s ranking on the IIFL Wealth Hurun India Rich List 2020 stood at 282nd.
The IPO of Happiest Minds was oversubscribed 150 times. Shares of Happiest Minds, which got listed earlier this month, doubled on the day of listing.
“Backed by the post IPO performance of Happiest Minds, which got subscribed by 150 times, Ashok Soota, 77, registered a wealth of Rs 3,700 crore and debuted the IIFL Wealth Hurun India Rich List 2020 at the 282th rank,” said a statement by IIFL and Hurun India.
Soota, the Executive Chairman of Happiest Minds, was also the founding Chairman and Managing Director of MindTree, which also completed a successful IPO during his tenure.
Soota is the co-author of the national bestseller “Entrepreneurship Simplified”.
Meanwhile, retail tycoon Radhakishan Damani entered the top 10 with a wealth of Rs 87,200 crore, backed by a 51 per cent increase in D-Mart’s share price. Damani was ranked 6th in the list of richest Indians.


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ALBUQUERQUE, N.M. (KRQE) – A brand new food hall in downtown Albuquerque is open for business. 505 Central Food Hall Downtown held its grand opening on Saturday.
The 13,000 square-foot building houses nine different locally-owned vendors including a cafe, bar, ramen shop, and even an oyster bar. However, in light of the governor’s renewed lockdown measures going into effect on Monday, 505 Central will have to close down its indoor dining on Monday.
Owner Mark Baker, however, says all of that hard work won’t go to waste. “It’s bittersweet. We’re excited. We have a lot of great mom and pop vendors who have been working tirelessly for a year to get their restaurants open, so we’re going to do the best we can with the situation we’ve been given,” Baker said. He adds that although Saturday’s grand opening will be short-lived, 505 Central will be focusing on its take out and curbside delivery options until the lockdown is lifted.


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Travis Scott is giving back this holiday season.
The 28-year-old rapper and his Cactus Jack Foundation hosted a toy drive on Tuesday (December 22) in his hometown of Houston, Texas.
Along with presents, the event also provided each family in attendance with free meals, produce, Christmas trees, comforters, shoes and personal protective gear to help prevent the spread of the coronavirus.
Travis was joined at the event by Kylie Jenner and their daughter Stormi, 2½.
While they were there, the 23-year-old makeup mogul took to her Instagram Story to share a photo of Stormi, wearing a face mask and army green jumpsuit, helping Travis.
“Big girl supporting her daddy @ his xmas food and toy drive,” Kylie captioned the photo of Stormi.
If you missed it, Travis recently called out Kylie on Instagram. Find out why here!
Source: Read Full Article


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Delaware Innovation Space first launched Science, Inc. in February 2021 with a cohort of 10 companies, including Elyte Energy, Lectrolyst and Carbon Reform. A newly announced second cohort will include nine up-and-coming startups in industries including green tech, medtech, robotics and space technology.
The startups will get four months of weekly programming, mentoring and coaching. Science Inc. also offers a $50,000 investment option, distributed as a convertible note, from the Innovation Space and its First Fund.
“Each [is] focused on a high-impact target market and enabled by powerful science,” said Bill Provine, CEO of the Innovation Space, in a statement. “These companies have the potential for exponential growth and significant impact on everyday life. Our role at The Innovation Space and the goal of our Science Inc. program is to unlock and unleash this potential.
Here are the nine startups, with bios provided by the Innovation Space:
- 4th Phase Water Technologies, led by Chunhong Li, Chuck Holder and Cathy Woyarowski, develops ultralightweight, durable, polymer-free, and highly conductive CNT sheets for various applications under challenging conditions.
- Ballydel Technologies, led by Brendan DeLacy, focuses on developing novel materials and technologies to provide solutions for a variety of applications in the defense, energy, pharma, and consumer goods sectors.
- Hx Innovations, Inc., led by Nicole and Von Homer, is developing a predictive movement analytics device to test neuromuscular performance within footwear.
- Integrated Infrastructure, led by Bob McGurk, is developing robotic mining, construction, and processing equipment for space and terrestrial applications.
- InveriTek, led by Eva-Maria Collins, provides rapid chemical screening in freshwater planarians.
- MindTech, led by Tulio Albuquerque, José Jeová Siebra Moreira Neto and Augusto Darwin Lima, is developing the world’s first painless anesthesia device.
- NEVAP, led by Benjamin Wang, is a medical device company that develops medical devices that improve outcomes for patients on mechanical ventilation.
- Resonant Orbital, led by Laurel Anne Ryback, Austin Sennot, Charles Sharp, Maurice Aguiler and Gerald Giarmo, is developing flexible and cost-effective vehicles that drive uniquely capable launch and interplanetary transport systems.
- Sironix Renewables, led by Christoph Krumm and Sabrina Conrad, is developing safer, eco-friendly ingredients for cleaning and personal care products.
Will Cruz, entrepreneur-in-residence at The Innovation Space, said the program is unique in that it places emphasis on the founder and not just the investment.
“This is accomplished by meeting the founder where they are at today, and allowing them the ability to leverage the expertise, experience, and wisdom of an Entrepreneur-in-Residence,” he said, referencing his role as founder mentor. “This framework delivers the value needed to accelerate the process of allowing founders to take their startups to the next level of growth.”
The fall cohort’s Demo Day is expected to be held in December.


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Tobago's hotel room stock will officially increase on Thursday with the opening of Comfort Inn & Suites in Scarborough.
The 74-room hotel, which began construction in 2019, features a full-service spa and fitness centre, rooftop restaurant and bar, rooftop pool and a lounge.
As with other construction projects in TT, the covid19 pandemic resulted in delays to completion.
On its Facebook page, the hotel said it will be ready to welcome guests from Thursday with a special introductory offer of US$150/$1,020 plus taxes per room, per night, double occupancy.
Teaser videos were also posted showing a room, the rooftop pool. and the dining area.
An earlier press release said the hotel, which falls under the Choice Hotels brand, will incorporate traditional artwork, vibrant décor, plush carpeting, deluxe drapery and tropical furnishings that will create a comfortable setting for guests.
In May, the hotel began advertising staff positions and was searching for suppliers.
Its general manager Maria Yip John told Newsday on Tuesday the hotel has been training its staff for the past month.
Yip John said, "We are really excited to be opening. All of our staff are keen on having guests come in and there has been the general feeling of excitement. All of our associates are excited."
The hotel will employ approximately 65 staff.
Asked about its suppliers, Yip John said the hotel is partnering with domestic suppliers from both islands.
She said Thursday will be a "soft" opening, and a grand opening is expected later on.
Asked about the interest internationally, Yip John added, "We have had quite a lot of interest, Choice is a global brand. People have been waiting for us to open doors – even in the local market."
Allan Richards, chairman of Towers Hospitality Group Ltd, an affiliate of Towers Consortium Consultancy Ltd, the brainchild behind Comfort Inn & Suites' arrival in Tobago, previously said the globally-branded hotel "will attract a discerning clientèle and usher in a new era in the local tourism industry."