Standard Lithium Partners with Equinor for New Texas Project

News Summary

Standard Lithium has announced a collaboration with Equinor to launch a $1.5 billion lithium extraction project in Northeast Texas, specifically near Lewisville, Lafayette County. This project, named the Franklin Project, aims to leverage the area’s rich brine resources, significantly enhancing the region’s potential for green energy and battery production. With lithium concentrations in brine exceeding 600 mg/L, the project represents a monumental step in sustainable energy and economic growth for East Texas.

Exciting News from Northeast Texas!

Northeast Texas is buzzing with news as Standard Lithium teams up with Equinor to launch a massive lithium extraction project near the charming area of Lewisville, Lafayette County. This ambitious venture, totaling a whopping $1.5 billion, aims to tap into the rich brine resources found in Texas and could change the game for green energy and battery production in the region.

Pioneering Lithium Extraction

Standard Lithium isn’t just a newcomer in the lithium scene—they’ve been making waves in Arkansas since May 2020 with their pilot plant in El Dorado. But now, they’re setting their sights on the Lone Star State, where recent reports indicate that Texas’s lithium brinefields might be even richer than those in Arkansas.

Exploring New Frontiers

The current exploration is covering a staggering 46,000 acres along Interstate 30, just west of Mount Pleasant. This exciting project, dubbed the Franklin Project, has spat out some incredible news: the lithium-in-brine grades here are reportedly the highest in all of North America! The project includes 617 mineral leases across Titus, Franklin, and Hopkins counties, putting Texas firmly on the lithium map.

Richer Resources

Brine samples taken from this area have shown lithium concentrations soaring over 600 milligrams per liter, which is significantly higher than the typical 300 to 500 milligrams per liter found in Arkansas. Experts believe these discoveries won’t compete against existing projects in Arkansas, as both areas can be developed simultaneously, allowing lithium to flow from both regions.

Expanding Ambitions

With their recent advances, Standard Lithium is eager to triple their Texas holdings with two additional projects in the works. The most promising find? The Pine Forest 1 well located near Winterfield, which boasts the **highest concentration** of lithium yet. This is exciting for not just Standard Lithium, but the entire Texas community looking for sustainable economic growth.

Future Plans in Full Swing

Standard Lithium’s President and COO has stated that the Franklin Project is a cornerstone for future production in the Smackover area. It’s set to complement the South West Arkansas Project, which aims to roll out a commercial-scale lithium extraction plant, pending a final investment decision expected by the end of 2025. Construction could kick off in 2026, and the first production is expected by 2028, with an initial phase capable of producing 22,500 tons of battery-quality lithium carbonate each year.

Investment from Equinor

Equinor is making a substantial bet on this venture, investing up to $160 million for a 45% stake in the project, leaving Standard Lithium with a 55% share. This partnership spells great potential for both companies and aligns well with the ongoing push for cleaner energy sources across the U.S. In January, the U.S. Department of Energy stepped in to support this endeavor with a sizable $225 million in federal funding, further solidifying the project’s importance under the Battery Materials Processing and Battery Manufacturing Grants Program.

A Bright Future for East Texas

Standard Lithium has emphasized that east Texas is an undervalued part of its asset portfolio, but recent resource reports indicate a change is coming. There is optimism that with these new developments and the focus on lithium extraction, the region will finally get the recognition it deserves, paving the way for further advancements in clean energy.

All in all, this collaboration is not just crucial for Standard Lithium and Equinor but could remarkably impact how lithium is sourced and utilized in sustainable energy solutions for years to come. East Texas is becoming a key player in the lithium landscape, and it’s thrilling to see where this journey goes!

Deeper Dive: News & Info About This Topic

• Arkansas Business: Standard Lithium & Equinor Expand Northeast Texas
• V&E Insights: Brine Time – Texas’ Latest in Lithium Law
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• Wikipedia: Lithium
• KETK: Ending U.S. Dependence on Chinese Lithium
• Google Search: Lithium Extraction Texas