ESM ATLiS, LLC & Energy Source Minerals, LCC (48C Self-Disclosed)

EnergySource Minerals, LLC ("ESM") is a privately held company leading the development of Project ATLiS, a premier lithium project located in Imperial County, California (the "Project" or "Project ATLiS"). The Project will result in the extraction and production of battery-spec lithium products utilizing spent geothermal brines from the Salton Sea Known Geothermal Resource Area ("SSKGRA"). The Project aids in ESM's mission to domestically produce low cost, low carbon, lithium products that are safe and efficient to operate. The Project is located adjacent to the existing Featherstone geothermal power plant ("Featherstone Plant"), which includes a fully built geothermal power production facility, production and injection well field, power, and water utilities. The Project will create up to 450 direct construction jobs and 71 direct operations, manufacturing, and asset management jobs after the Project is operational. ESM, in coordination with its EnergySource LLC ("EnergySource") affiliate, has specialized in geothermal power operations and development on the SSKGRA since 2006. ESM has an experienced commercial development team executing the Project, including members of the Featherstone Plant development team, industry experts in lithium, and world class vendors and their engineering teams. The Project includes the construction and operation of a new 25-acre manufacturing facility in Imperial County, CA (the "Facility") to produce approximately 20,000 metric tons ("tonnes") per annum battery quality lithium hydroxide monohydrate ("LHM") from geothermal brines. The Facility will be located on 80 acres of land that is adjacent to the Featherstone Plant which will supply feedstock brine for the Project. The Facility is close to the town of Calipatria, on the eastern shore of the Salton Sea (33° 12'15.45" N, 115° 34'35.60" W - approximately 200 miles (320 km) from Los Angeles and nearby Port of Long Beach). The LHM produced from this Project will be fully utilized for battery powered electric vehicles ("EVs").

The U.S. Department of Energy (DOE) released applicant self-disclosed information for 22 projects across 17 states that voluntarily shared with DOE that they received a total of nearly $1 billion in allocations from the Qualifying Advanced Energy Project Credit (48C). Nine of the self-disclosed projects indicated they are located in 48C energy communities – communities with closed coal mines or coal plants—showcasing the Biden Administration’s commitment to investing in America’s energy communities.