Golden Opportunity

Often called “white gold,” lithium could be even more in demand locally since Toyota announced plans to locate a battery plant about 20 miles from Greensboro. Today the material sells for 257 times more than gold and 500 times more than platinum, according to the MBA students’ report. And yet, traditional mining for lithium takes an environmental toll, often scarring the land and threatening supplies of precious groundwater.

Minerva Lithium’s patented nanofilter can extract the microscopic lithium particles from petroleum wastewater in a much cleaner and greener process.

The idea has so much wide-ranging potential that it was a bit challenging to narrow down the scope of the Capstone project at first.

“I think the biggest lesson was about continuing to ask questions until you get to the real root of the problem you’re trying to solve,” says David Jackson ’22 MBA, who worked on the project. “When we looked at their data, there was so much opportunity and we had to focus in on which question to tackle to provide the most effective assistance.”

Ultimately, the students suggested a targeted market for the filter – one in which there is currently no competition. They also advised the company to hone its messaging to be especially clear to the customer. All their recommendations were firmly rooted in a careful analysis of data.

Rorrer said he hopes the students gained newfound self-assurance applying classroom learnings to real-world problems. “As often happens in business, the group walked into a situation where it’s not clear at first what’s being asked or how to get started,” he said. “Through a process – and some encouragement and steering – they gained confidence not only in finding the answers but in presenting them effectively to a client. They just poured their heart and soul into this hard work.”

Dawood was impressed by the students’ commitment, curiosity and acumen as well as the value her company received from their expertise. She is looking forward to applying their work to her application for additional funding.

“The right people were involved, and they were as excited about our product as I am,” she said. “They were very enthusiastic and put in 100 percent. They owned it.”