Here is a Microsoft Bing Translator translation of the La Presse article:
Designed in California, meetings in China, fuelled by the James Bay
Alain McKenna, the press
November 17, 2012 | 08 h 57
In computing, California is the epicenter of design, China is the heart of the production, and if it is just a few Quebec entrepreneurs, James Bay could provide the batteries necessary to power their next creations.
We knew James Bay of streams that can generate electricity. It was less known that it was also one of the few places in the world where you can find a high concentration of metals that will give life to the next generation of phones, tablets, electric cars and even from wind turbines and solar power plants.
With three world-class lithium deposits, James Bay will soon be able to store the energy that it is already able to produce... "Quebec is one of the five places in the world where the lithium for the batteries for this type of application", explains Jean-Sébastien Lavallée, CEO of Critical Elements, who intends to exploit one of these deposits of lithium near Eastmain, in Northern Quebec. "Our potential customers are called Apple, Panasonic, Toyota...".
Globally, the lithium market is exploding. Electronics and automotive manufacturers ask for more. Countries such as China, which has to import huge batteries to store energy produced from renewable sources like the wind and the Sun, do literally jump the value of projects such as those of Critical Elements, Canada Lithium and Lithium Nemaska, lindus between Val-d'Or and Eastmain.
Less Quebec technologies
The first lithium batteries were marketed from the 1990s. It is in is sold $ 11 billion in 2010. According to the Market Research firm, this total will increase to 43 billion by 2020. Mr. Lavallée knows. He wants not only to exploit its lithium deposit (as early as 2015 if all goes well), he also hopes to make the transformation in Quebec.
"It is very profitable. We think we can create 500 jobs in the very long term. Our early performance is $ 279 million", says, provided that the company does not buy back by a rival Chinese, Australian and even American... The Critical Elements Corporation worth $ 20.5 million to the Toronto Stock Exchange, in a sector where the redemptions are shots of several hundreds of millions of dollars.
It would not be the first nor the last Quebec society in this niche to suffer such a fate. Company Phostech Lithium, Saint-Bruno, who recovered patents of Hydro-Québec to develop promising lithium-iron phosphate batteries, has recently owned by the German company Süd-Chemie. Bathium, Boucherville, another spin-off of the Crown Corporation, owned by the French group Bollore.
In short, Jean-Sébastien Lavallée do races not too. Administrators may block a possible bid, but he remains realistic. "In the current economic climate, we are in a good position for a takeover," he said.