- Koch Strategic Platforms (KSP), a subsidiary of Koch Investments Group, will make a US$100 million investment in Standard Lithium
- Koch Strategic Platforms has agreed to purchase 13,480,083 common shares of SLI at a price of C$9.43 per share
- The net proceeds of the investment will be used primarily to advance the first commercial project proposed for the Lanxess facility
- KSP’s investment in Standard Lithium will accelerate the production of lithium resources
- Standard Lithium is an innovative technology and lithium development company
- Standard Lithium Ltd. (SLI) opened trading at C$11.09 per share
Koch Strategic Platforms, a subsidiary of Koch Investments Group, will make a US$100 million investment in Standard Lithium (SLI).
Koch Strategic Platforms has agreed to purchase 13,480,083 common shares of SLI at a price of C$9.43 per share for gross proceeds of C$127,070,000 (US$100,000,000).
The net proceeds of the US$100 million investment will be used by Standard Lithium to advance the first commercial project proposed for the Lanxess facility, expand the development of the South West Arkansas Lithium Project, develop and commercialize modern lithium extraction and processing technologies and allow for strategic project expansion.
Robert Mintak, CEO of Standard Lithium commented,
“We’re entering an important phase for Standard Lithium and we’re thrilled to be starting it with a globally recognized industrial leader like Koch Strategic Platforms as a partner.”
“KSP has an impressive track record of investing in disruptive technologies and their backing is an important endorsement of the Company’s core technology, development plans and of our intent to make the Gulf Region a leading supplier of lithium resources.”
David Park, president of Koch Strategic Platforms added,
“KSP is focusing on investing in companies with strong tailwinds that are disrupting the market as we know it. We are excited to invest in Standard Lithium as they pave a path forward towards lithium production here in the U.S. This is an exciting time for energy transformation and we believe KSP’s investment in Standard Lithium can help accelerate the production of lithium resources right here at home.”
Standard Lithium expects the investment by KSP to provide for mutually beneficial alignment with several Koch Industries businesses. For example, businesses within the KES and KM&T platforms could assist in the following ways:
- Providing key industrial technologies and process solutions for commercialisation from Koch Separation Solutions;
- Engineering and development oversight from Koch Project Solutions;
- Engineering, procurement and other construction services from the Optimized Process Designs (OPD) group; and,
- Raw material supply agreements and assistance with future lithium product off-take agreements from the KM&T group.
MaxEn Capital Advisors, Ltd. as sole financial advisor to Standard Lithium on the transaction, will be entitled to receive a cash fee and share purchase warrants of Standard Lithium in consideration for services provided.
Standard Lithium is an innovative technology and lithium development company. The company has commissioned its first-of-a-kind industrial-scale direct lithium extraction demonstration plant at Lanxess’s south plant facility in southern Arkansas.
Standard Lithium Ltd. (SLI) opened trading at C$11.09 per share.
