Billionaire-Backed Geothermal Project Highlights New Lithium-Extraction Technology

Startup company Lilac Solutions secured US$20 million in funding from Jeff Bezos, Michael Bloomberg, and Bill Gates for a lithium-extraction project in California’s Salton Sea geothermal area—one of the richest potential sources of geothermal energy in the world. If successful, an improved extraction technology would transform the site into a combined energy and lithium source. Project partners envision a geothermal energy plant, to be launched in 2023, where lithium is extracted as part of energy production.