VANCOUVER, British Columbia (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE: SLI) (FRA: S5L), an innovative technology and lithium project development company announced it has signed a Letter of Intent (“LOI”) with Koch Engineered Solutions (“KES”) for support with pre-front end engineering design (“pre-FEED”) at the Company’s proposed first commercial plant located at the Lanxess facility in southern Arkansas.
The intent of the LOI is to organize and use several business units under the KES umbrella to form an Integrated Project Management Team (“IPMT”) that will help Standard Lithium to execute key pre-FEED work. The IPMT will largely draw on strategically aligned resources from Koch Project Solutions (“KPS”), Koch Separation Solutions (“KSS”) and Optimized Process Designs (“OPD”). The IPMT will be structured to assist the Company in evaluating process scale-up solutions, equipment options, preliminary engineering design, scheduling, budgeting and other project management activities relating to the first commercial lithium plant proposed at the Lanxess facility in southern Arkansas. The proposed site for the first commercial facility currently houses the Company’s continuously operating pre-commercial Direct Lithium Extraction (“DLE”) Demonstration Plant.
Standard Lithium’s President and COO, Dr. Andy Robinson commented “The Company is undergoing a period of transformational growth, and we must add to our team in order to move fast and efficiently towards the first commercial plant. The deep bench-strength and world class resources that the KES businesses bring is vital to us building the strongest possible project execution team.”
“KES is focused on accelerating growth in energy transformation with an eye on the fast-growing renewables market. Our collaboration with Standard Lithium showcases KES’s commitment to working with our partners to provide best in class process equipment, engineering, procurement, and construction services. We are excited to help grow the battery value chain and look forward to working with Standard Lithium on this historic project,” said Dan Haycook, chief commercial officer for Koch Engineered Solutions.