TSX-V-listed Standard Lithium on Wednesday announced a strategic partnership with NYSE-listed energy group Equinor to accelerate the development of lithium projects in Arkansas and Texas.
In terms of the transaction, Equinor will make a $160-million investment for a 45% interest in two special purpose entities.
The partnership combines Standard Lithium’s direct lithium extraction and Smackover brine processing expertise and assets with a global energy major with deep experience in sub-surface assessment and production, project development, financing, construction and operations.
“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 Standard Lithium and the lithium industry in Arkansas and Texas to the next level,” said Standard Lithium president and COO Andy Robinson.
Standard Lithium and Equinor will own 55% and 45% of the projects respectively, with Standard Lithium retaining operatorship.