espiku 2024: A Milestone a Minute

In a world of uncertain global markets and finite resources, it’s in our nation’s best interest to work towards a diverse energy economy that is secure and sustainable. The US is in the midst of an era of unprecedented electrification, driven by data centers and industrial reshoring. And though we continue to dominate in oil & gas, producing over 13 million barrels of crude oil per day, in 2023 renewables hit a record high of 9% of the total energy produced and consumed in the US. “Renewable energy sources (...) are the fastest-growing segments on the power grid.” (Reuters, 2024) espiku’s mission to shore up critical mineral production for battery development and energy storage, and to improve industrial water management, puts us on track to meet the needs of stakeholders across the energy-water-minerals nexus.

espiku was founded on principles of addressing industry water management challenges with low-maintenance, efficient, and easily deployable water treatment units. Where tech developers shied away from thermal water extraction, espiku CEO & Founder Bahman Abbasi seized an opportunity; his inventions apply thermal transport to evaporate water out of the contaminated source, leaving gases and solids behind. Not only do these technologies revolutionize water reuse in some of the most polluting industries, they enable the extraction of minerals like lithium and nickel from domestic sources, critical for supply chain and national security.

Founded in 2020, espiku has grown into a full-fledged company with nine staff across four states. We all wear many hats, face steep learning curves in thermal fluids and business development, and travel the country to uncover markets, meet potential customers and learn about their needs.

2024 was a breakout year for espiku:

• We forged a partnership with Halliburton Labs, giving us access to a broad business network that will advance our commercialization efforts in oil & gas produced water treatment.

• We were selected as a 2024-25 Breakthrough Energy Innovators Fellow, a program that offers dedicated market study and access to endless resources to test our mineral concentrate technology.

• We built a pilot of our produced water treatment unit in record time and showcased it at the ARPA-E 2024 Summit in Dallas.

• We built and tested our brine concentration unit for lithium extraction.

• We continue to build upon a DOD SBIR Phase II award - pushing the envelope of extracting minerals from brine and industrial wastewater.

• We hired three new employees: 

• Tyler Manley, Director of Business Development 

• Jesse Rubenstein, Engineering Lab Technician

• Erin Webber, Business & Brand Associate

2025 is a year of field testing and customer relations, building on years of proving our resilience with a strong, steadfast, and diverse team. With every nudge forward, we seem to leap into the vast expanse, eyes wide open and ready to wrench toward success.