Element3^® Successfully Extracts Lithium Chloride in Permian Basin Field Test

Project with Double Eagle Marks an Important Advance for Oil and Gas, Renewable Energy

FORT WORTH, TX and MIDLAND, TX – January 30, 2024 – Element3^®, the critical material extraction company specializing in oil and gas wastewater, announced today it successfully extracted lithium chloride from oil and gas wastewater at a Double Eagle Energy Holdings IV, LLC (“Double Eagle”) subsidiary’s produced water recycling facility.  

Prior to this test, it was widely held that lithium chloride could not be extracted from produced water in meaningful quantities without first concentrating the wastewater.Element3’s patent-pending direct lithium extraction technology eliminates the need for pre-concentration. This creates a pathway to efficiently unlock a new, domestic lithium resource from the one trillion gallons of wastewater generated each year as a byproduct of U.S. oil and gas operations.

Hood Whitson, Founder and Chief Executive Officer of Element3, commented, “The success of this field test proves we can effectively, economically and sustainably extract lithium from low-concentration produced water in the Permian Basin. We look forward to building on this success with multiple feedstock partners this year. We are grateful for the hard work and dedication of our employees, advisors and investors.” 

The project’s results aligned with Element3’s expectations to recover more than 85% of the lithium contained in wastewater with a concentration of less than 40 parts per million lithium. Independent third-party testing verified the lithium chloride produced has the concentration and purity required to create battery-grade lithium carbonate.

“This is a landmark moment for the energy industry,” commented Andrew Lackner, Managing Director of Energy Innovation Capital. “This development is pivotal to enable America to establish its own stable, domestic lithium supply chain, reducing reliance on foreign countries for critical minerals needed for EV batteries and electronics.” 

Element3 plans to begin a commercial demonstration of its operations later this year. 

About Element3

Element3 focuses on the extraction of lithium and other critical materials from oil and gas wastewater. We harness this underutilized resource to create a secure, environmentally stable, domestic supply of materials required for the energy transition and advanced manufacturing. Learn more at www.element3.io.  

About EIC Rose Rock

EIC Rose Rock is a unique long-term partnership between George Kaiser Family Foundation’s tech-focused development arm, multiple Fortune 500 energy leaders, and the premier venture capital fund, Energy Innovation Capital (EIC).EIC Rose Rock provides early-stage funding for visionary entrepreneurs developing energy technologies that advance energy diversification, improve sustainability and enhance the operational efficiency of existing oil and gas assets. To learn more, visit www.eicroserock.com.

Company Contact:

Ben Patterson

Director of Business Operations

817-221-8711

bpatterson@element3.io