XOM - Exxon's Lithium Experiment Could Be Winner For Oil Company State Of Arkansas | Benzinga
Exxon Mobil Corp (NYSE:XOM)’s recent earnings announcement closed up another successful year in which the company delivered $36 billion in earnings.
Despite operating some of the most lucrative global oil projects, the company understands the inevitability of energy transition, deciding to launch a lithium operation in Arkansas.
Through Mobil Lithium, Exxon plans to produce lithium for one million electric vehicles per year by 2030. This ambitious plan starts by choosing lithium filtration technology — including one of the unproven direct lithium extraction (DLE) technologies, which the company has been rigorously testing at a pilot plant in Houston.
Patrick Howarth, head of Exxon's lithium business, clarified the situation at the ongoing Arkansas Lithium Innovation Summit in ...