11:33 AM EDT, 09/24/2024 (MT Newswires) -- Standard Lithium ( SLI ) reported Tuesday a swing to profit for the fiscal year ended June 30.

The company reported a total comprehensive income of $149.2 million, compared with a year-prior loss of $42.0 million.

Standard Lithium ( SLI ) reported a gain of $226.4 million from the consolidation of subsidiaries, compared to nil last year.

"We delivered on our promises in fiscal 2024 with the advancement of our world-class lithium brine assets and by securing a strategic partnership with global energy major, Equinor," said David Park, Standard Lithium's ( SLI ) chief executive.

The company recently received a conditional US$225 million grant from the U.S. Department of Energy for the South West Arkansas project.

"Now, with the recent announcement of the conditional DOE grant of US$225 million, is the time for us to prioritize, focus and execute," Park added.

Standard Lithium ( SLI ) shares were last seen down $0.09 to $2.13 on the TSX Venture Exchange.

Price: 2.13, Change: -0.09, Percent Change: -4.05