Norwegian energy titan Equinor just announced a major partnership with Standard Lithium, acquiring a 45% stake in a deal valued at up to $160 million. This partnership, which aims to expedite the advancement of Standard Lithium’s two lithium projects, will see Equinor leverage oil and gas technologies as well as provide subsurface and project execution expertise to the partnership. The new investment underscores a growing interest in Direct Lithium Extraction (DLE), an emerging technology that offers an efficient method to extract high-purity lithium from reservoir brines that is suitable for battery production. Another company making serious advancements with this extraction tech is E3 Lithium (TSXV:ETL) (OTCQX:EEMMF), a Canadian lithium company swiftly advancing its Clearwater Project towards commercial operations using DLE technology to produce high-purity, battery-grade lithium. Albemarle (NYSE:ALB) and Lithium Americas (TSX:LAC) (NYSE:LAC) are also working on sustainable solutions to extract lithium.
Based in Alberta, E3 Lithium (TSXV:ETL) (OTCQX:EEMMF) possesses a substantial lithium resource totaling 16.0 million tonnes (Mt) of lithium carbonate equivalent (LCE) in Measured and Indicated categories, with an additional 0.9 million tonnes LCE classified as Inferred mineral resources. According to the findings of E3‘s Preliminary Economic Assessment, the Clearwater Lithium Project shows promising financial metrics, boasting a pre-tax NPV8% of US$1.1 Billion alongside a 32% IRR, with post-tax figures standing at US$820 Million NPV8% and a 27% IRR.
After achieving notable milestones in 2023, including upgrading its resource at Clearwater, successfully demonstrating the commercial viability of its DLE technology and producing high-purity battery-grade lithium hydroxide, E3 Lithium is gearing up for a significant year of expansion in 2024.
This year, E3 Lithium aims to move the Clearwater Project closer to commercial operations. Key objectives for the year include advancing engineering studies, obtaining commercial permits, completing a Pre-Feasibility Study (PFS), and publishing the NI 43-101 report. The PFS will offer comprehensive details on the design of the inaugural commercial facility and facilitate the booking of reserves, marking a crucial advancement for Canadian lithium brines.
Once fully operational, E3 Lithium expects to produce up to 150,000 tonnes of battery-grade lithium yearly, enough for 2.2M electric vehicles (EVs) annually. This could convert Canada’s entire vehicle fleet in under 12 years.
On May 9, E3 Lithium announced that it is expanding its Calgary-based lab to polish and manufacture battery products including lithium carbonate. This expansion aims to enhance the company’s existing capabilities in refining key battery materials and supports strategic efforts to meet the growing demand for electric vehicle batteries and energy storage solutions. By increasing production capacity, E3 Lithium is well-positioned to capitalize on the expanding market for lithium products, essential for the clean energy transition
Financially, E3 Lithium is well-positioned, having raised over $30 million in 2023 and securing substantial funding from government programs.
Visit this link to find out more about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF).
Recent Milestones in the Energy Sectors Propel Battery Technology Forward
Standard Lithium Ltd (TSXV:SLI) (NYSE American:SLI) announced in April the successful commissioning and performance validation of North America’s largest continuously-operating Direct Lithium Extraction (DLE) equipment. Recently installed at its Demonstration Plant near El Dorado, Arkansas, the commercial-scale DLE column, a Li-ProTM Lithium Selective Sorption unit provided by Koch Technology Solutions, LLC, has seamlessly integrated into the Company’s operations. Operating at an input flow rate of 90 gallons per minute (or 20.4 m3/hr), it stands as the largest DLE installation in North America, achieving exceptional lithium recovery and impurity rejection since inception.
Equinor (NYSE:EQNR) has strategically partnered with Standard Lithium, acquiring a 45% stake in two promising lithium project companies located in Southwest Arkansas and East Texas. This move signifies Equinor’s commitment to the energy transition through sustainably produced lithium, recognized as crucial for the growing electric vehicle market and broader battery energy storage solutions. Earlier this year, Equinor’s (NYSE:EQNR) Blandford Road battery storage asset in the UK came into operation, a milestone in its commitment to flexible power solutions. The 25 MW/50 MWh facility, fully owned by Equinor, is operated by Noriker Power, in which Equinor holds a 45% equity share.
Albemarle (NYSE:ALB) signed in February a definitive agreement with the BMW Group to supply battery-grade lithium for premium electric vehicles (EVs). Effective from 2025, this substantial, multi-year deal represents one of Albemarle’s largest globally. Alongside lithium hydroxide supply, the partnership includes collaborative efforts to enhance lithium-ion battery technology for safety and energy density. Albemarle’s Energy Storage President, Eric Norris, underscores their commitment to advancing the clean energy transition and welcomes the opportunity to collaborate with BMW on research for lithium battery innovations.
Lithium Americas (TSX:LAC) (NYSE:LAC) provided in March a construction update for its Thacker Pass lithium project in Nevada. Highlights include a $2.26 billion loan commitment from the U.S. Department of Energy for processing facilities, targeting an initial 40,000 tpa of battery-grade lithium carbonate. Site preparation is complete, with detailed engineering at 30%. A transloading terminal in Winnemucca enhances operations. The company signed a National Construction Agreement with NABTU. Total Phase 1 construction costs are estimated at $2.93 billion. Spending was $194 million in 2023, with reduced expenditures until the DOE loan closure and full notice to proceed in late 2024.
E3 Lithium (TSXV:ETL) (OTCQX:EEMMF) is inviting investors to a webinar on May 14, at 11:00 am MT. President and CEO Chris Doornbos and CFO Raymond Chow will review the 2023 Annual Report, update on E3 Lithium’s progress, and discuss plans for 2024, including a Prefeasibility Study overview.
Visit this link to find out more about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF).
Featured Image @ Depositphotos
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding E3 Lithium Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to E3 Lithium Ltd.’s industry; (b) market opportunity; (c) E3 Lithium Ltd.’s business plans and strategies; (d) services that E3 Lithium Ltd. intends to offer; (e) E3 Lithium Ltd.’s milestone projections and targets; (f) E3 Lithium Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) E3 Lithium Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Lithium Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute E3 Lithium Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Lithium Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) E3 Lithium Ltd.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of E3 Lithium Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) E3 Lithium Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact E3 Lithium Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Lithium Ltd.’s business operations (e) E3 Lithium Ltd. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, E3 Lithium Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does E3 Lithium Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither E3 Lithium Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of E3 Lithium Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Lithium Ltd. or such entities and are not necessarily indicative of future performance of E3 Lithium Ltd. or such entities.
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