News: AKE UPDATE 1-Lithium miner Livent buys minority stake in ILiAD Technologies parent

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Dec 14 (Reuters) - U.S. lithium miner Livent Corp LTHM.N has acquired a minority stake in the parent company of direct lithium extraction technology firm ILiAD Technologies, the companies said on Thursday.

The companies did not disclose financial details or the size of the stake purchased.

Livent is investing in a subsidiary of privately held EnergySource Minerals, which is a direct lithium extraction company that develops projects in California's Salton Sea.

Livent will have the right to license ILiAD technology for deployment at its lithium brine resource in Argentina, the companies said, adding that commercial utilization could begin as early as 2025.

"We are excited to partner with ILiAD Technologies as we continue to invest in processes and technologies which advance our strategy of producing high-quality lithium chemicals efficiently and sustainably," Livent's CEO Paul Graves said.

Livent received regulatory approval for its proposed $10.6 billion merger with Australia's Allkem (AKE) last month. The combined firm will be the world's third-biggest producer of the metal, used in electric vehicle batteries, behind U.S.-based Albemarle ALB.N and Chile's SQM SQMA.SN .