Standard Lithium (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial, lithium-development company, and its subsidiary, SWA Lithium LLC, has been selected to receive up to $225 million in award negotiation from the U.S. Department of Energy (“DOE”). SLI jointly owns SWA Lithium with Equinor, a global energy leader. According to the announcement, the provisional grant is one of the largest ever awarded to a U.S. critical minerals project. The funds are part of a second wave of support provided under the Infrastructure Investment and Jobs Act, which is designed to expand domestic manufacturing of all segments of the battery supply chain as well as increase the production of critical minerals in the United States.
“The significant cost share from the U.S. government demonstrates their continued support for investing in secure and sustainable supply chains of domestic lithium production,” said Standard Lithium CEO David Park in the press release. “This decision by the Department of Energy validates the caliber of the project we are building through our derisked approach to project development, strong partnerships, methodical testing and purpose-built processes tailored to meet the specific demands of large-scale lithium production in the Smackover Formation. Moreover, it reflects the incredibly talented and dedicated team we have built to execute this vision and, most importantly, the relationships we have built in our community and across the state to ensure this is a win for Arkansas.”
To view the full press release, visit https://ibn.fm/EcRK8
About Standard Lithium Ltd.
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. 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 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 is actively exploring promising lithium-brine prospects in east Texas. Additionally, the company is advancing the phase 1A project in partnership with LANXESS Corp., 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. For more information about the company, please visit www.StandardLithium.com.
NOTE TO INVESTORS: The latest news and updates relating to SLI are available in the company’s newsroom at https://ibn.fm/SLI
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