Georit Energy "ExtraLit to Commercialize DLE with US $42 Trillion Energy Subsidiary"

XtraLit, an affiliate of Georit Energy, announced on the 26th that it will establish a joint venture with a subsidiary of Halliburton, which is listed on the New York Stock Exchange with a market capitalization of $32.7 billion (approximately 42 trillion KRW), to commercialize direct lithium extraction (DLE).

XtraLit recently announced on its official website the establishment of a joint venture with Halliburton Labs for investment attraction and lithium extraction from oil and gas produced water.

Halliburton, founded in 1919, is an oil drilling specialist company operating in over 70 countries worldwide. Halliburton Labs is a wholly-owned subsidiary responsible for energy-related acceleration.

XtraLit was confirmed this month as a partner in the Halliburton Labs ecosystem. Halliburton Labs provides customized support to accelerate the commercialization and enhance the value of technologies held by participating companies. Halliburton Labs plans to participate in XtraLit’s $30 million Series B investment and establish a joint venture to promote the dissemination of DLE technology.

XtraLit stated, "The contract with Halliburton Labs includes the establishment of a US-based joint partnership to promote sustainable energy solutions in North America and globally."

XtraLit plans to create an operations center at the Halliburton Labs campus located in Houston, Texas, leveraging Halliburton’s expertise, network, and facilities to enhance the strategic expansion and commercialization potential of DLE.

In particular, XtraLit will be granted access to brine sources produced from Halliburton’s oil fields. The company said it will receive full support including ▲ usage rights to Halliburton’s research facilities ▲ comprehensive commercialization support ▲ provision of brine produced from oil fields.

Simon Lynch, CEO of XtraLit, said, "Water produced in the oil and gas industry is an important resource for lithium production," adding, "We will collaborate with Halliburton to further improve the efficiency of the lithium extraction process and optimize produced water treatment."

A Georit Energy official said, "We are very pleased that XtraLit’s DLE has been recognized by a major US corporation and is receiving investment and support," and added, "We will test the brine provided by Halliburton together with XtraLit to secure additional brine lakes and accelerate commercialization."

Meanwhile, Georit Energy recently secured geothermal water near the Salton Sea in the United States. With XtraLit granted brine testing rights for Halliburton’s oil fields, the company plans to further focus on its US operations. XtraLit possesses DLE technology capable of recovering up to 95% lithium from low and medium concentration brine.

This content was produced with the assistance of AI translation services.