lithium

Standard Lithium says the latest drilling project indicates an increasing trend of lithium concentrations in the Texas portion of the Smackover formation.

A new report said the US supermajor has made its second move in a month to enter the emerging lithium extraction industry.

In the world of wind, Equinor has postponed its initiative indefinitely while Repsol moves ahead in Italy, and Portugal plans to auction offshore leases for wind farms.

The US supermajor is said to have struck a deal that may make it a major supplier of lithium, which is needed to expand the US electric vehicle market.

The electric vehicle industry is creating a “dot-com” boom around the energy transition, spinning off a multitude of startups as it creates its own supply chain of new technologies in battery manufacturing.

Skyrocketing demand for the commodity has created a lithium deficit that could slow the pace of the energy transition. Industry is scrambling to find new sources by opening new mines or devising new technologies to extract lithium from brines, including brines found in produced water from oil and gas operations.

As electric vehicles make their move into the fast lane, the two high-profile companies are partnering to keep them on track.

The growth in renewable energy is spurring battery-storage projects, which are fueling a “gold rush to metals.”

The NeoLith pilot plant is on track to begin operations before the end of the year.