Standard Lithium Signs Letter of Intent With Koch Engineered Solutions to Support Commercial Lithium Project Development
December 15 2021 - 6:00AM
Standard Lithium Ltd. (“
Standard
Lithium” or the “
Company”) (TSXV: SLI)
(NYSE: SLI) (FRA: S5L), an innovative technology and lithium
project development company today announced it has signed a Letter
of Intent (“
LOI”) with Koch Engineered Solutions
(
“KES”) for support with pre-front end engineering
design (
“pre-FEED”) at the Company’s proposed
first commercial plant located at the Lanxess facility in southern
Arkansas.
The intent of the LOI is to organize and use
several business units under the KES umbrella to form an Integrated
Project Management Team (“IPMT”) that will help
Standard Lithium to execute key pre-FEED work. The IPMT will
largely draw on strategically aligned resources from Koch Project
Solutions (“KPS”), Koch Separation Solutions
(“KSS”) and Optimized Process Designs
(“OPD”). The IPMT will be structured to assist the
Company in evaluating process scale-up solutions, equipment
options, preliminary engineering design, scheduling, budgeting and
other project management activities relating to the first
commercial lithium plant proposed at the Lanxess facility in
southern Arkansas. The proposed site for the first commercial
facility currently houses the Company’s continuously operating
pre-commercial Direct Lithium Extraction (“DLE”)
Demonstration Plant.
Standard Lithium’s President and COO, Dr. Andy
Robinson commented “The Company is undergoing a period of
transformational growth, and we must add to our team in order to
move fast and efficiently towards the first commercial plant. The
deep bench-strength and world class resources that the KES
businesses bring is vital to us building the strongest possible
project execution team.”
“KES is focused on accelerating growth in energy
transformation with an eye on the fast-growing renewables market.
Our collaboration with Standard Lithium showcases KES’s commitment
to working with our partners to provide best in class process
equipment, engineering, procurement, and construction services. We
are excited to help grow the battery value chain and look forward
to working with Standard Lithium on this historic project,” said
Dan Haycook, chief commercial officer for Koch Engineered
Solutions.
About Standard Lithium Ltd.
Standard Lithium is an innovative technology and
lithium development company. The Company’s flagship project is
located in southern Arkansas, where it is engaged in the testing
and proving of the commercial viability of lithium extraction from
over 150,000 acres of permitted brine operations. The Company has
commissioned its first-of-a-kind industrial-scale direct lithium
extraction demonstration plant at Lanxess’s south plant facility in
southern Arkansas. The demonstration plant utilizes the Company’s
proprietary LiSTR technology to selectively extract lithium from
Lanxess’s tail brine. The demonstration plant is being used for
proof-of-concept and commercial feasibility studies. The 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 resource development of over 30,000 acres of separate
brine leases located in southwest Arkansas, referred to as the
South West Arkansas Lithium Project, and approximately 45,000 acres
of mineral leases located in the Mojave Desert in San Bernardino
County, California.
Standard Lithium is jointly listed on the TSX
Venture Exchange and the NYSE American Exchanges under the trading
symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol
“S5L”. Please visit the Company’s website
at https://www.standardlithium.com.
On behalf of the Board of Standard Lithium Ltd.Robert Mintak,
CEO & Director
About Koch Engineered
Solutions
Koch Engineered Solutions (KES) delivers
superior value in developing, integrating and applying innovative
technical and service solutions for industrial value chains. KES
offers uniquely engineered solutions in construction; mass and heat
transfer; combustion and emissions controls; filtration;
separation; materials applications; automation and actuation. Based
in Wichita, Kansas, KES is a subsidiary of Koch Industries, one of
the largest private companies in the world. More information is
available at KochEngineeredSolutions.com.
For further information, contact
Contact:LHA Investor RelationsDavid Barnard+1
415-433-3777standardlithium@lhai.cominfo@standardlithium.comTwitter:
@standardlithiumLinkedIn:
https://www.linkedin.com/company/standard-lithium/
Koch IndustriesChristin Fernandez, Director of
CommunicationsChristin.Fernandez@kochps.com202-879-8546
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
certain “Forward-Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target”, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to future plans and objectives of the Company, including,
without limitation, the pursuit and/or realization of any strategic
opportunities, the formation and development of the IPMT, future
prices of commodities, accuracy of mineral or resource exploration
activity, reserves or resources, accuracy of preliminary economic
assessments, including net present value, internal rate of return,
capital and operating costs, life of mine production, progression
of the project, including to a pre-feasibility study, regulatory or
government requirements or approvals, the reliability of third
party information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
Standard Lithium (AMEX:SLI)
Historical Stock Chart
From Apr 2024 to May 2024
Standard Lithium (AMEX:SLI)
Historical Stock Chart
From May 2023 to May 2024