CleanTech Lithium PLC announced that it has entered into a Memorandum of Understanding with SunResin New Materials Co. Ltd, for the further development of the Company's projects. SunResin, a Chinese company listed on the Shenzhen Stock Exchangewith a market value of around $4 billion, will work with the Company and its DLE technical partner, Beyond Lithium, on the planned pilot scale production tests on Laguna Verde brine.

Both parties will further look to negotiate commercial terms which would allow the Company to fast-track development of its projects to deliver battery grade lithium to the international market using SunResin's modular DLE plants. SunResin has over 10 years of experience in DLE,having executed nine commercialDLE contracts representing a total capacity of 73,000 tonnes per annum of lithium SunResin's DLE technology has high recoveries with low costs and expedited processing times . The Company, working with Beyond Lithium, has developed its own proprietary DLE adsorption process, and will now work with SunResin and Beyond Lithium on pilot scale production, SunResin provides pilot scale units which can be deployed to site with a view to commencing pilot scale production at Laguna Verde by early 2023 .

The objective of the piloting is to demonstrate the potential for a first phase 10,000 tonne per annum commercial scale production being planned at each of the Company's projects. The Company and SunResin will also look to negotiate commercial terms towards the construction, commissioning and operation of a commercial scale DLE plant . SunResin recently demonstrated its ability to deliver by announcing the shipment from China of10,000 tons of modular DLE units for a 25,000 tonne per annum lithium production plant (Phase 1) for a project in Argentina - just five months after the contract was signed in February 2022.

Production is due to start at the site in first half of 2023.