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Solar Bankers has secured offtake rights for a large reserve of lithium in Mongolia together with a Swiss partner company. Lithium is a highly demanded precious metal with a wide range of uses and applications, most prominently in the production of batteries and other electronic devices. Lithium has gained importance in the renewable energy sector due to its central role in the development of on-site energy storage solutions and electric vehicles.

The mining rights pertain to a mine located in Southern Mongolia with estimated total reserves of more than 5 million tons. The quality and concentration of lithium in the area has been tested and confirmed by SGS, a world-leading inspection and certification company from Switzerland (http://www.sgs.com/en/mining). Solar Bankers, whose current project seeks to connect households in P2P energy marketplaces with the help of the company’s patented high-efficiency solar module, hope to use the extracted resources to promote innovation in battery solutions for solar energy.

Alfred Jost, CEO and Founder of Solar Bankers, says that “lithium batteries will be indispensable for our P2P network since participants will want to sell their unused solar energy out of storage.” Solar Bankers plan to use their own digital token, SunCoin, as the currency for electricity trading in their P2P platforms.