Standard Lithium Ltd. (“Standard Lithium”)
(TSXV:SLI) (NYSE American:SLI), a leading near-commercial lithium
development company and Equinor, a global energy leader, is pleased
to share that its jointly-owned U.S. subsidiary, SWA Lithium LLC
has been selected for up to US$225 million award negotiation from
the U.S. Department of Energy (“DOE”). The conditional award,
overseen by the DOE’s Office of Manufacturing and Energy Supply
Chains, is one of the largest ever awarded to a U.S. critical
minerals project and part of the second wave of funding under the
Infrastructure Investment and Jobs Act. This DOE funding is aimed
at expanding domestic manufacturing of all segments of the battery
supply chain and increasing production of critical minerals in the
U.S.
“Arkansas is proud of its all-of-the-above
energy strategy, with a rich production history of oil, natural
gas, bromine, and now, lithium,” said Arkansas Governor
Sarah Sanders. “Lithium has the potential to supercharge
South Arkansas’ economy - and this announcement from Standard
Lithium moves us closer to that goal.”
“Congratulations to SLI and its partners, and
what an exciting investment in Arkansas,” said Arkansas
Secretary of Energy and Environment, Shane Khoury. “This
award helps ensure that Arkansas stays on track to become a world
leader in lithium production and promotes lithium extraction in a
proven and cleaner manner.”
“The announcement by Standard Lithium today is
exciting news for south Arkansas,” said Arkansas
State Senator Matt Stone. “The $225
million grant from the Department of Energy will firmly establish
Arkansas as an energy leader and pave the way for hundreds of jobs
for our State.”
“Standard Lithium’s Department of Energy grant
marks a pivotal investment in South Arkansas, empowering local
communities while strengthening our nation's future,” said
Arkansas State Senator Ben Gilmore. “This
initiative not only fosters economic growth but also plays a
crucial role in breaking our dependence on China and securing a
resilient supply chain for lithium and beyond.”
“Congratulations to the SLI/Equinor
team,” said Arkansas Secretary of Commerce Hugh
McDonald. “Arkansas is excited to see the validation of
the lithium industry growth opportunities that will benefit
thousands of Arkansans. This award and others solidify Arkansas’
significant role in securing North America’s lithium supply
chain.”
“South Arkansas College is excited about this
news for our long-term partner Standard Lithium, and we will
continue to support them in any way possible in the future,” said
President of SouthArk College, Dr. Stephanie
Tully-Dartez.
“This is great news for the people of South
Arkansas and a significant investment in our future and in our
nation’s future by helping to break dependence on foreign sources
and supply chain for critical minerals,” said Former
Arkansas House Speaker Matthew Shepherd. “Not only
will this investment directly create hundreds of jobs, it will
indirectly create numerous opportunities for improved healthcare,
childcare, and workforce development and have a lasting positive
impact on South Arkansas and beyond.”
“UA -Pulaski Tech is proud to be an educational
partner on the workforce training component of this enormous
investment in domestic production, securing of supply chains and
jobs in Arkansas,” said Dr. Summer Deprow, Chancellor
of the University of Arkansas - Pulaski Technical
College.
“Congratulations Standard Lithium on receiving
this outstanding award,” said Lafayette County Judge,
Valarie Clark. “Lafayette County is grateful for the
opportunity to support this great company in their future
endeavors.”
“I am very proud of Standard Lithium and their
persistence in receiving the funding that has been procured by
their organization,” said Columbia County Judge, Doug
Fields. “I know personally the challenge there is to
obtain funding for a project! I'm proud to give my full support to
Standard Lithium, and their endeavors to provide new jobs, new
infrastructure, and to see them support the community in
much-needed ways, not to mention the boost to our economy!
Congratulations to Standard Lithium!”
About the South West Arkansas
Project
The South West Arkansas Project (“SWA” or the
“Project”) is located in Lafayette and Columbia Counties, Arkansas,
and is being developed in partnership with Equinor, which holds a
45% non-operating interest in the Project. SWA’s Indicated and
Inferred Mineral Resource of 1.4 Mt and 0.4 Mt lithium carbonate
equivalent, with an average lithium concentration of 437 mg/L, has
some of the highest reported lithium brine concentrations in North
America. The design engineers working on behalf of the Company are
developing Front-end Engineering Design (“FEED”) and a Definitive
Feasibility Study (“DFS”) that contemplates total production of up
to 45,000 tonnes per annum of lithium carbonate, to be developed in
two phases of 22,500 tonnes per annum each.
SWA’s direct lithium extraction and lithium
carbonate facilities are planned to be located on a 118-acre
property in rural Lafayette County, approximately 7 miles south of
Lewisville, Arkansas. The Project is expected to create up to 300
construction jobs and 100 direct jobs and dedicate millions of
dollars to community impact efforts that will benefit the local
area through infrastructure improvements, community health
initiatives, educational partnerships, and workforce development
programs.
The Company completed a Preliminary Feasibility
Study for the project in 2023, and a DFS and FEED are currently
underway.
Qualified Person
Steve Ross, P.Geol., a qualified person as
defined by National Instrument 43-101, and Vice President Resource
Development for the Company, has reviewed and approved the relevant
scientific and technical information in this news release.
About Standard Lithium
Standard Lithium is a leading near-commercial
lithium development company focused on the sustainable development
of a portfolio of large, high-grade lithium-brine properties in the
United States. The Company prioritizes projects characterized by
the highest quality resources, robust infrastructure, skilled
labor, and streamlined permitting. Standard Lithium 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 flagship
projects are located in the Smackover Formation, a world-class
lithium brine asset, focused in Arkansas and Texas. In partnership
with global energy leader Equinor ASA, Standard Lithium is
advancing the South West Arkansas project, a greenfield project
located in southern Arkansas, and actively exploring promising
lithium brine prospects in East Texas. Additionally, the Company is
advancing the Phase 1A project in partnership with LANXESS
Corporation, a brownfield development project located in southern
Arkansas. Standard Lithium also holds an interest in certain
mineral leases in the Mojave Desert in San Bernardino County,
California.
Standard Lithium is jointly listed on the TSX
Venture Exchange and the NYSE American under the trading symbol
“SLI”. Please visit the Company’s website
at https://www.standardlithium.com.
About Equinor
Equinor is an international energy company
committed to long-term value creation in a low-carbon future.
Equinor’s portfolio of projects encompasses oil and gas, renewables
and low-carbon solutions, with an ambition of becoming a net-zero
energy company by 2050. Headquartered in Norway, Equinor is the
leading operator on the Norwegian continental shelf and is present
in around 30 countries worldwide. Our partnership with Standard
Lithium to mature DLE projects builds on our broad US energy
portfolio of oil and gas, offshore wind, low carbon solutions and
battery storage projects.
For more information on Equinor in the US,
please visit: Equinor in the US - Equinor
Media Contacts:
Allysa Iverson Standard
Lithium Ltd.a.iverson@standardlithium.com
Ola Morten
Aanestad Equinoroaan@equinor.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may contain certain
“Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target”, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to intended development timelines, future prices of
commodities, accuracy of mineral or resource exploration activity,
reserves or resources, regulatory or government requirements or
approvals, the reliability of third party information, continued
access to mineral properties or infrastructure, fluctuations in the
market for lithium and its derivatives, changes in exploration
costs and government regulation in Canada and the United States,
and other factors or information. Such statements represent the
Company’s current views with respect to future events and are
necessarily based upon a number of assumptions and estimates that,
while considered reasonable by the Company, are inherently subject
to significant business, economic, competitive, political and
social risks, contingencies and uncertainties. Many factors, both
known and unknown, could cause results, performance or achievements
to be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements. The Company does not intend, and does
not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or
changes in circumstances or any other events affecting such
statements and information other than as required by applicable
laws, rules and regulations.
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