Standard Lithium Secures $225M DOE Grant, Advances Southwest Arkansas Lithium Project
TL;DR
Standard Lithium (NYSE American: SLI) secured a $225 million U.S. Department of Energy grant, positioning itself for significant growth and market dominance.
Standard Lithium's focus on sustainable lithium production through direct extraction processes ensures efficient and environmentally friendly operations at flagship projects.
Standard Lithium's progress in lithium extraction technology contributes to a greener future by reducing environmental impact and promoting sustainable energy solutions.
Standard Lithium's partnership with Equinor and successful field-pilot testing showcase cutting-edge advancements in lithium recovery, driving innovation in the energy sector.
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Standard Lithium has achieved critical milestones in its Southwest Arkansas lithium project, receiving a substantial $225 million grant from the U.S. Department of Energy and securing unanimous approval for its first brine production unit. The project has been designated a priority under Executive Order 14241, which aims to boost American mineral production.
In partnership with Equinor through the newly established Smackover Lithium joint venture, the company successfully completed final field-pilot testing with an impressive lithium recovery rate of over 99%. This achievement represents a significant advancement in sustainable lithium extraction technology and domestic mineral development.
The company maintains a strong financial position with $31.6 million in cash and no outstanding debt. Standard Lithium remains on track to pursue further permitting and royalty approvals in the second quarter of 2025, signaling continued progress toward potential commercial-scale lithium production.
The project's advancement is strategically important for the United States, as it supports domestic critical mineral production and reduces reliance on international lithium supply chains. By developing lithium resources in the Smackover Formation, Standard Lithium is contributing to the growing electric vehicle and renewable energy infrastructure sectors.
Curated from InvestorBrandNetwork (IBN)
