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Equinor makes big investment into lithium projects in Arkansas, East Texas

eyes on LI

Standard Lithium retaining operatorship, while Equinor will support through its core competencies, like subsurface and project execution capabilities. Photo via Equinor.com

A Norwegian international energy company has entered into a deal to take a 45-percent share in two lithium project companies in Southwest Arkansas and East Texas.

Equinor, which has its U.S. headquarters in Houston, has reached an agreement with Vancouver, Canada-based Standard Lithium Ltd. to make the acquisition. Standard Lithium retaining operatorship, while Equinor will support through its core competencies, like subsurface and project execution capabilities.

“Sustainably produced lithium can be an enabler in the energy transition, and we believe it can become an attractive business. This investment is an option with limited upfront financial commitment. We can utilise core technologies from oil and gas in a complementary partnership to mature these projects towards a possible final investment decision,” says Morten Halleraker, senior vice president for New Business and Investments in Technology, Digital and Innovation at Equinor, in a news release.

Standard Lithium retains the other 55 percent of the projects. Per the deal, will pay $30 million in past costs net to the acquired interest. The company also agreed to carry Standard Lithium's capex of $33 million "to progress the assets towards a possible final investment decision," per the release. Additionally, Equinor will make milestone payments of up to $70 million in aggregate to Standard Lithium should a final investment decision be taken.

Lithium is regarded as important to the energy transition due to its use in battery storage, including in electric vehicles. Direct Lithium Extraction, or DLE, produces the mineral from subsurface reservoirs. New technologies have the potential to improve this production method while lowering the environmental footprint.

Earlier this month, Houston-based International Battery Metals, whose technology offers an eco-friendly way to extract lithium compounds from brine, announced that it's installing what it’s billing as the world’s first commercial modular direct-lithium extraction plant located at US Magnesium’s operations outside Salt Lake City. The plant is expected to go online later this year.

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6 Houston greentech cos. named world's best & more top energy headlines

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Editor's note: Summer is heating up with big news in the energy transition sector, from Time's World's Top GreenTech Companies of 2026 to ExxonMobil's new Texas legal HQ. Below are the five most-read EnergyCapitalHTX stories published June 15-30, 2026:

1. 6 Houston companies earn recognition on Time’s global greentech list 2026

Six Houston-area businesses appear on Time magazine’s 2026 list of the world’s top greentech companies, with a high-flying name leading the pack. The highest-ranked local company is Houston-based geothermal power producer Fervo Energy, which claims the No. 4 spot—up from No. 14 last year. Continue reading.

2. Houston-based Syzygy lands global customer for first commercial SAF plant

Houston-based Syzygy lands global customer for first commercial SAF plant

Houston-based Syzygy Plasmonics has secured a major future customer for its sustainable aviation fuel. Syzygy has entered into a capacity reservation agreement with World Fuel Services, a global fuel distribution and logistics company. Through the deal, World Fuel has reserved a portion of Syzygy's SAF production for future plants slated for Central and South America. The clean fuel will be produced at Syzygy’s NovaSAF-1 facility in Uruguay, which is moving toward construction. Continue reading.

3. Fervo promotes strategy leader to COO as flagship geothermal project nears launch

Houston geothermal unicorn Fervo Energy has named Sarah Jewett as its new COO. Jewett steps into the role as the company prepares for its flagship Cape Station geothermal project to deliver its first power later this year. Jewett joined Fervo in 2020 as director of strategy and most recently served as the company's senior vice president of strategy. Continue reading.

4. UH study finds Gulf Coast best positioned for emerging carbon removal technology

The Gulf Coast is an ideal spot for deploying a new ocean-based carbon removal technology that uses seawater to capture and store carbon dioxide, according to a new study from the University of Houston. The study was led by UH Cullen College of Engineering Professor Mim Rahimi and published in Nature’s Communications Sustainability journal. Abdelrahman Refaie, a PhD student at UH, authored the paper. It aimed to develop a plan for implementing an electrochemical marine carbon dioxide removal (e-mCDR) technology that treats seawater to increase the ocean’s ability to absorb and store carbon dioxide from the air. Continue reading.

5. ExxonMobil announces date to move legal headquarters to Texas

Energy giant Exxon Mobil Corp. has set a date to move its legal headquarters to Texas. The Spring-based company announced that the redomiciliation from New Jersey to Texas is expected to be effective July 1. Exxon's board of directors unanimously recommended redomiciling in the Lone Star State in March, and shareholders approved the move to Texas at the company’s annual meeting in May. Continue reading.

Baker Hughes signs deal to install 500 MW of geothermal power

geothermal growth

Baker Hughes has made a deal to further expand its geothermal operations.

The Houston-based energy giant has signed an agreement with Mantle Reach Power to develop geothermal energy projects across North America. The companies say they aim to install up to 500 megawatts of geothermal power in the next five years, according to a news release.

Through the new agreement, Baker Hughes will provide subsurface technology and solutions while Mantle Reach Power will lead project development, ownership and financing. Mantle Reach Power is a geothermal development company backed by the $47 billion EnCap Energy Transition Fund III.

According to the release, the deal aims to help solve one of geothermal energy's fundamental problems by aligning capital with expertise and technology, and enhancing "pre-construction bankability."

“Geothermal is a clean power solution that is proving to be a vital contributor to advancing sustainable energy development, with incredible potential to enhance U.S. energy security, support digital infrastructure, and ensure energy remains accessible and affordable ... Today’s announcement celebrates the commercial architecture the industry has been missing: a repeatable, financeable model that can be deployed at the speed and scale to meet global energy demands,” Baker Hughes Chairman and CEO Lorenzo Simonelli said in the news release.

“Integrating Baker Hughes’ subsurface-to-surface expertise with our capabilities in project development, finance, and execution positions Mantle Reach Power to commercialize geothermal assets at scale,” Nick Karambelas, CEO of Mantle Reach Power, added in the release. “This structure provides the construction and operating certainty necessary to access conventional project financing and accelerate our growth as an independent power producer.”

Baker Hughes has launched multiple geothermal partnerships in recent months. The company announced a deal with Oklahoma-based Helmerich & Payne Inc. (H&P) in May to develop a geothermal rig, where H&P will provide a geothermal-capable land drilling rig and Baker Hughes will contribute technology.

In March, the company announced support for XGS’s geothermal extraction projects in New Mexico, which are being used to meet the increasing demands of data centers in the state. Last year, Fervo Energy selected Baker Hughes to supply equipment for its flagship geothermal project in Utah.

ENGIE strikes clean energy deal with Houston biomanufacturer

energy match

ENGIE North America has signed an agreement with Aker BioMarine to supply around-the-clock, Texas-sourced clean energy to the Norwegian company's Houston manufacturing facility.

The deal is through ENGIE's 24/7 offering, which allows users to "match electricity consumption with local renewable generation on an hourly basis," rather than annual renewable energy matching, according to a news release.

Houston-based ENGIE NA will match 90% of Aker BioMarine's hourly electricity consumption at its Houston facility through renewable energy certificates that link electricity consumed to clean power generated. The renewable energy will be sourced largely from ENGIE's Impact Solar Project in Lamar County, Texas.

“Working with companies that have made sustainability a core part of their strategy is essential to delivering meaningful progress,” Taymur Bunkheila, regional VP and retail supply lead for ENGIE’s U.S. 24/7 product, said in the release. “By aligning energy solutions with operational needs, we can help organizations improve transparency, strengthen accountability, and deliver measurable outcomes. This agreement demonstrates how companies can take practical steps today while building toward long-term sustainability objectives.”

Aker BioMarine, which develops sustainable marine-based ingredients, processes the majority of its krill and algae products at its Houston facility. The company says the deal with ENGIE marks an important step in reducing the environmental footprint of its operations.

“Through this agreement, we expect to reduce our Scope 2 emissions, marking an important milestone in our broader sustainability journey,” Matts Johansen, CEO at Aker BioMarine, added in the release. “ENGIE has delivered an affordable, innovative and transparent solution that allows us to match our electricity consumption for our Houston manufacturing facility with renewable power generation. The transparent data ENGIE provides strengthens our climate reporting while helping us continue delivering high-quality products with a lower environmental footprint."

ENGIE has more than 11 gigawatts of renewable energy projects in operation or under construction in the U.S. and Canada. The company is targeting 95 gigawatts by 2030

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