Koch Strategic Platforms (KSP), a subsidiary of Koch Industries (yes, that Koch Industries) plans to make a $100-million investment in Standard Lithium (NYSE: SLI). The company will use the new funding to advance a commercial project at its Lanxess facility in southern Arkansas, accelerate development of the South West Arkansas Lithium Project, and develop and commercialize modern lithium extraction and processing technologies in collaboration with Koch businesses.
Standard Lithium is testing the commercial viability of lithium extraction from over 150,000 acres of permitted brine operations. The company has commissioned an industrial-scale direct lithium extraction demonstration plant at Lanxess in southern Arkansas. The demonstration plant uses the Company’s proprietary LiSTR technology to selectively extract lithium from Lanxess’s tail brine.
Standard Lithium says its scalable, environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours and greatly increases the effective recovery of lithium. The company is also pursuing the development of over 30,000 acres of separate brine leases referred to as the Southwest Arkansas Lithium Project, as well as 45,000 acres of mineral leases in San Bernardino County, California.
“KSP has an impressive track record of investing in disruptive technologies and their backing is an important endorsement of the Company’s core technology, development plans and of our intent to make the Gulf Region a leading supplier of lithium resources,” said Robert Mintak, CEO of Standard Lithium.
“KSP is focusing on investing in companies with strong tailwinds that are disrupting the market as we know it,” said David Park, President of Koch Strategic Platforms. “This is an exciting time for energy transformation and we believe KSP’s investment in Standard Lithium can help accelerate the production of lithium resources right here at home.”
Source: Standard Lithium