SLI:CC - InvestorNewsBreaks - Standard Lithium Ltd (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L) Equinor Partner to Develop Projects in the Smackover Formation
Standard Lithium (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial, lithium-development company, has announced a “landmark” partnership with Equinor ASA (NYSE: EQNR), a multinational energy company and recognized leader in renewables and low-carbon solutions. Together, the two companies will focus on accelerating the development of Standard Lithium’s large-scale, sustainable lithium West Arkansas and East Texas projects, which are located in the Smackover Formation. According to the announcement, the partnership involves Equinor contributing up to $160 million; Standard Lithium and Equinor will each own 55% and 45% of the projects respectively, with Standard Lithium retaining operatorship. “We are delighted to have concluded this transaction and begun an exciting new partnership with Equinor,” said Standard Lithium president, director and COO Dr. Andy Robinson in the press release. “We believe this partnership with a global energy major validates the quality of our team, our DLE flowsheet and experience, and our world-class lithium-brine resources in Arkansas and Texas. We’re at a crucial stage in our company’s growth, and this partnership with Equinor will be fundamental to the continued derisking and execution of these important projects. One thing that we have observed in the lithium world over the past decade is that strong, mutually aligned partnerships are the key to successful project execution and operation, and we believe we have aligned with the right partner to take SLI and the lithium industry in Arkansas and Texas to the next level. ”
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About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium-brine bearing properties in the United States. The company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labor and streamlined permitting. The company aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated direct lithium extraction (“DLE”) and purification process. The company’s signature projects, the Phase 1A Project and the South West Arkansas Project, are located on the Smackover Formation in southern Arkansas, a region with a longstanding and established brine-processing industry. The company has also identified a number of highly prospective lithium brine project areas in the Smackover Formation in east Texas and has begun an extensive brine-leasing program in the key project areas. In addition, the company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino County, California. For more information about the company, please visit www.StandardLithium.com.
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