It is the lithium salt of nitric acid (an alkali metal nitrate). It is made by reacting lithium carbonate or lithium hydroxide with nitric acid. This deliquescent colourless salt is an oxidizing agent used in the manufacture of red-colored fireworks and flares. Lithium Nitrate has been proposed as a medium to store heat collected from the sun for cooking. A Fresnel lens would be used to melt solid lithium nitrate, which would then function as a 'solar battery', allowing heat to be redistributed later by convection.