OXY - Occidental Take Lithium Leap With Berkshire Hathaway's Subsidiary | Benzinga
Occidental Petroleum Corporation (NYSE:OXY) shares are trading lower today. The company’s subsidiary, TerraLithium, inked a joint venture deal with BHE Renewables to develop technology for extracting high-purity lithium from geothermal brine.
The companies plan to demonstrate and deploy TerraLithium’s Direct Lithium Extraction (DLE) and associated technologies to extract and commercially produce high-purity lithium compounds.
Notably, BHE Renewables is a wholly owned subsidiary of Berkshire Hathaway Inc.‘s (NYSE:BRK) energy unit.
BHE Renewables operates ten geothermal power plants in California’s Imperial Valley, which process 50,000 gallons of lithium-rich brine per minute to produce 345 megawatts of ...