ITT Bornemann’s Post

Transcript

Hello, I'm having a Barbara and I'm delighted to be representing ITT Goulds Pumps at the upcoming Reuters Global Energy Transition Conference in New York. We all know that cleaner types of energy are in great demand to reduce carbon emissions. This also means that the demand for raw materials such as lithium, copper and cobalt for battery manufacturer is at an all time high. However, there are some hard truths to be faced. The global supply of critical minerals is finite, often difficult to access, and not to mention expensive. We need to work together to build greater capacity because global demand will only increase. Thankfully, there is a lot of ongoing activity in developing new methods for speeding up production. Direct lithium extraction processes are developing at a great pace to reduce the time to market whilst addressing some key concerns such as energy, water and land use used in conventional mining. The recycling of metals and used batteries in urban centres is another source for materials, which also contributes towards a circular economy. It all comes down to developing partnerships through innovation, investment and enhanced supply chains in order to obtain materials in more sustainable ways. We look forward to discussing these and other ideas at the upcoming conference, and I hope to see you there.