Standard Lithium Ltd., a prominent lithium development company, has joined hands with Equinor in a partnership aimed at developing sustainable lithium projects in South West Arkansas and East Texas. Equinor commits to making a significant gross investment of up to US$160 million, acquiring a 45% interest in two special purpose entities established with Standard Lithium.
The partnership’s primary is to establish a sustainable lithium business within the United States, catering to the increasing demand for lithium-ion batteries across various industries. With Equinor’s substantial investment, the partnership aims to enhance lithium production capabilities and develop cost-effective extraction technologies, reducing reliance on imported lithium sources.
In an attempt to further mitigate risks associated with the Direct Lithium Extraction (DLE) process, which Standard Lithium employs in its operations, the company has installed a commercial-scale DLE column at its demonstration plant. The installation will allow for rigorous testing using full-scale commercial equipment over the next six months. This step enhances the feasibility and reliability of the DLE process, making it a more viable option for large-scale lithium production.
Additionally, Standard Lithium has announced the selection of Ausenco Engineering Canada ULC to complete the Definitive Feasibility Study (DFS) and Front-End Engineering and Design (FEED) services for the coveted South West Arkansas (SWA) Project. This crucial step signifies the progress being made in the development of lithium extraction facilities in the region.
The partnership between Standard Lithium and Equinor, alongside the advancements made in DLE technology and the selection of Ausenco for project development, underlines the commitment of both parties towards establishing a sustainable lithium business in the US. This endeavor marks a significant step towards meeting the growing global demand for lithium, particularly as the world transitions towards electric transportation and renewable energy systems.
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