President and COO Dr. Andy Robinson Joins Aqualung Board of Directors
EL DORADO, Ark., May 12, 2022 (GLOBE NEWSWIRE) – Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE American: SLI) (FRA: S5L), an innovative technology and lithium project development company, today announced an equity investment of $ 2.5 million into Aqualung Carbon Capture AS, a leader in carbon capture technology. The Standard Lithium investment is part of Aqualung’s $ 10 million strategic equity round.
Dr. Andy Robinson, President and COO of Standard Lithium commented, “We started working with Aqualung in 2021, and are confident in its underlying technology and the management team’s strategy to commercialize their core carbon extraction technology. This strategic investment phase provides an ideal opportunity for Standard Lithium to develop a more integrated approach as our Company strives for a future in the chemical production of low-carbon lithium. One of our goals is to reduce and/or capture our CO2 emissions, and permanent sequester of CO2 as part of our future operations. We look forward to expanding our current pilot project with Aqualung to support this ambition. In addition, I am excited to join Aqualung’s board of directors and actively participate in the company’s future.
The carbon capture pilot project was developed in partnership with Aqualung and will be installed at a natural gas processing site in southern Arkansas (see news release Sept. 14, 2021). Design and construction of the pilot unit has begun, and site-to-site deployment is scheduled for Q3 this year.
$ 2.5 Million Equity Investment Terms
Standard Lithium invested $ 2.5 million in exchange for 179,175 shares of Aqualung common stock. Coinciding with the Company’s investment, President and COO Dr. Andy Robinson joins the board of directors of Aqualung.
About Standard Lithium Ltd.
Standard Lithium is a new technology and lithium development company. The Company’s flagship project is located in southern Arkansas, where it involves testing and validating the commercial feasibility of extracting lithium from more than 150,000 acres of authorized brine operations. The Company operates a first-of-class industrial scale Direct Lithium Extraction (DLE) demonstration plant at its southern Lanxess facility in southern Arkansas. The demonstration plant uses the Company’s proprietary LiSTR technology to selectively extract lithium from Lanxess 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 significantly increases effective lithium recovery. The Company also continues to develop the resource of more than 30,000 acres of separate brine leases located in southwest Arkansas, called the South West Arkansas Lithium Project, and an estimated 45,000 acres of mineral lease located in the Mojave Desert in San Bernardino County, California.
Standard Lithium is simultaneously listed on the TSX Venture Exchange and on the NYSE American under the trade 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 and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or accuracy of this release. This news release may contain certain “Priority 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 “expect”, “believe”, “estimate”, “anticipate”, “target,“ plan ”,“ predict ”,“ can ”,“ schedule ”etc. words or expressions denoting forward -looking statements or information.This forward -looking statements or information may relate to future commodity prices, mineral accuracy or resource exploration activity, reserves or resources, regulations or government requirements or approvals, the reliability of third party information, continued access to mineral assets or infrastructure, changes in the market for lithium and derivatives thereof, changes in exploration and regulatory costs by the governments of Canada and the United States, and other factors or information.Such statements represent the Company’s current views regarding future events. and must be based on numerous assumptions and estimates that, even when considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, known and unknown, may cause the results, performances or material produced to differ from the results, performances or achievements that have been or may be expressed or implied in such viewing. forward 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 conditions or any other events relating to such statements and information except as required by applicable laws, rules and regulations.
CONTACT: For further information contact: LHA Investor Relations David Barnard +1 415-433-3777 [email protected] [email protected] Twitter: @standardlithium LinkedIn: https://www.linkedin.com/company/standard-lithium/