Standard Lithium and Equinor Secure $225 Million DOE Grant for Arkansas Lithium Project

The latest update is out from Standard Lithium Ltd ( (TSE:SLI) ).

Standard Lithium Ltd. and Equinor have secured a $225 million grant from the U.S. Department of Energy to support the construction of Phase 1 of the South West Arkansas project. This project, anticipated to be one of the first commercial-scale Direct Lithium Extraction facilities, is expected to produce 45,000 tonnes of lithium carbonate annually. The initiative is poised to enhance the U.S. lithium supply chain and create substantial local employment opportunities, reflecting its significant impact on the company’s industry positioning and community engagement.

More about Standard Lithium Ltd

Standard Lithium Ltd. is a near-commercial lithium development company focused on the sustainable advancement of high-grade lithium-brine properties in the United States. The company emphasizes projects with top-tier resources, robust infrastructure, skilled labor, and efficient permitting. Their flagship projects are located in the Smackover Formation in Arkansas and Texas, and they aim to produce lithium sustainably at a commercial scale using Direct Lithium Extraction technology.

YTD Price Performance: 3.98%

Average Trading Volume: 232,127

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$401.1M

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