Equinor Invests Millions in Standard Lithium Projects

Norwegian energy giant Equinor recently announced a partnership with Standard Lithium, acquiring a 45% stake in a deal valued at up to $160 million. This partnership aims to expedite the advancement of Standard Lithium’s two lithium projects and 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 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 lithium samples, E3 Lithium is gearing up for a significant year of development.
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 25,000 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 refine 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.
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 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.
to find out more about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF).

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2) The Article was issued on behalf of and sponsored by, E3 Lithium Ltd. Market Jar Media Inc. has or expects to receive from E3 Lit