Standard Lithium, Equinor announce Smackover Lithium as new joint venture name

Core Viewpoint - Standard Lithium Ltd. and Equinor have launched a joint venture named Smackover Lithium to develop direct lithium extraction projects in Southwest Arkansas and East Texas, aiming to establish one of the world's first commercial-scale DLE facilities [1][2][4]. Group 1: Joint Venture Details - The Smackover Lithium joint venture was announced during a community meeting in Lewisville, Arkansas, which will serve as the location for a planned field office [2]. - The joint venture is focused on the Smackover formation, known for its rich lithium resources, and aims to enhance American energy production [3][4]. - The partnership between Standard Lithium and Equinor was formed in May 2024 to advance DLE projects in the Smackover basin [4]. Group 2: Company Profiles - Standard Lithium is a near-commercial lithium development company with a focus on sustainable development of high-grade lithium-brine properties in the U.S., particularly in Arkansas and Texas [6]. - Equinor is an international energy company with a commitment to long-term value creation in a low-carbon future, aiming to become a net-zero energy company by 2050 [8]. Group 3: Project Goals and Community Engagement - Smackover Lithium aims to build critical mineral projects while fostering economic development and educational opportunities in local communities [4][5]. - The joint venture will continue to build on Standard Lithium's existing relationships with local communities to enhance workforce opportunities [4].