08:43 AM EDT, 10/28/2024 (MT Newswires) -- Standard Lithium ( SLI ) said Monday that its SWA Lithium joint venture with Equinor agreed to deploy Koch Technology Solutions' (KTS) Li-Pro Lithium Selective Sorption technology at the joint venture's commercial plant for the SWA phase 1 project.

Standard Lithium's ( SLI ) share price rose 3.2% at last look to US$2.18 on NYSE American pre-market trading following the news.

SWA Lithium is developing the South West Arkansas lithium project.

"Signing this license agreement is the culmination of over two years of close work with the KTS team to refine the direct lithium extraction (DLE) technology and integrate it into the JV's flowsheet," said Andy Robinson, Standard Lithium's ( SLI ) director, president and COO. "The Li-Pro LSS technology is now sufficiently scaled-up, tested and derisked, so not only is the JV comfortable committing to its use at commercial scale, but KTS is also able to offer performance guarantees for its commercial deployment."

Meanwhile, Standard Lithium ( SLI ) said the commercial-scale DLE column at its demonstration plant near El Dorado, Arkansas, continues to operate. The company said that since commissioning, the column has exceeded the targeted design parameters for lithium recovery and rejection of impurities.