Standard Lithium Completes Investment Into Aqualung
President and COO Dr. Andy Robinson Joins Aqualung Board of Directors
EL DORADO, Ark., Could 12, 2022 (Globe NEWSWIRE) — Conventional Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an progressive know-how and lithium venture development organization, today announced an equity investment decision of $2.5 million into Aqualung Carbon Seize AS, a leader in carbon seize technological innovation. Typical Lithium’s investment decision was section of a $10 million strategic fairness spherical by Aqualung.
Dr. Andy Robinson, President and COO of Standard Lithium commented, “we began working with Aqualung in 2021, and are assured in its fundamental technology and the administration team’s approach to commercialize their core carbon capture technological innovation. This strategic financial commitment round offered an ideal opportunity for Typical Lithium to take a more built-in strategy as our Corporation strives in direction of a long term of minimal-carbon lithium chemical production. A single of our goals is to the two lessen and/or seize our CO2 emissions, and forever sequester that CO2 as portion of our future functions. We glance forward to scaling up our existing pilot undertaking with Aqualung in assist of this ambition. In addition, I am delighted to join Aqualung’s board of administrators and actively participate in the company’s upcoming.”
The carbon capture pilot project is remaining made in collaboration with Aqualung and will be mounted at a organic fuel processing web page in southern Arkansas (see information launch September 14, 2021). Design and style and fabrication of the pilot device is underway, and deployment at the web site location is scheduled for Q3 of this yr.
$2.5 Million Equity Financial investment Phrases
Regular Lithium invested $2.5 million in exchange for 179,175 shares of Aqualung frequent stock. Coincident with the Company’s investment, President and COO Dr. Andy Robinson joined Aqualung’s board of administrators.
About Standard Lithium Ltd.
Normal Lithium is an modern technological know-how and lithium growth business. The Company’s flagship task is located in southern Arkansas, where it is engaged in the screening and proving of the professional viability of lithium extraction from about 150,000 acres of permitted brine operations. The Corporation operates its very first-of-a-sort industrial-scale Direct Lithium Extraction (DLE) demonstration plant at Lanxess’s south plant facility in southern Arkansas. The demonstration plant makes use of the Company’s proprietary LiSTR engineering to selectively extract lithium from Lanxess’s tail brine. The demonstration plant is remaining made use of for proof-of-principle and professional feasibility studies. The scalable, environmentally welcoming approach eliminates the use of evaporation ponds, lessens processing time from months to several hours and enormously raises the effective restoration of lithium. The Organization is also pursuing the useful resource growth of over 30,000 acres of separate brine leases situated in southwest Arkansas, referred to as the South West Arkansas Lithium Job, and somewhere around 45,000 acres of mineral leases positioned in the Mojave Desert in San Bernardino County, California.
Conventional Lithium is jointly listed on the TSX Venture Trade and the NYSE American underneath the buying and selling image “SLI” and on the Frankfurt Stock Exchange less than the image “S5L”. Be sure to visit the Company’s website at https://www.standardlithium.com.
On behalf of the Board of Typical Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Undertaking Exchange nor its Regulation Expert services Provider (as that phrase is defined in insurance policies of the TSX Venture Exchange) accepts obligation for the adequacy or accuracy of this release. This news launch could include selected “Forward-On the lookout Statements” inside of the indicating of the United States Non-public Securities Litigation Reform Act of 1995 and applicable Canadian securities regulations. When utilised in this information launch, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other equivalent phrases or expressions establish forward-looking statements or information. These ahead-wanting statements or information may possibly relate to long term prices of commodities, accuracy of mineral or source exploration exercise, reserves or sources, regulatory or government necessities or approvals, the reliability of third celebration information, ongoing entry to mineral homes or infrastructure, fluctuations in the marketplace for lithium and its derivatives, improvements in exploration charges and federal government regulation in Canada and the United States, and other factors or details. These types of statements represent the Company’s recent sights with respect to upcoming occasions and are always primarily based on a range of assumptions and estimates that, even though regarded as fair by the Company, are inherently subject to major business enterprise, economic, aggressive, political and social pitfalls, contingencies and uncertainties. Many elements, both recognized and not known, could bring about success, general performance or achievements to be materially distinct from the results, functionality or achievements that are or may perhaps be expressed or implied by these kinds of ahead-seeking statements. The Organization does not intend, and does not suppose any obligation, to update these ahead-looking statements or facts to reflect adjustments in assumptions or modifications in circumstances or any other situations affections this sort of statements and facts other than as expected by relevant legislation, guidelines and restrictions.
Get in touch with: For further facts get in touch with: LHA Trader Relations David Barnard +1 415-433-3777 [email protected] [email protected] Twitter: @standardlithium LinkedIn: https://www.linkedin.com/organization/typical-lithium/