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Chevron's CEO Considers Lithium Business and Advocates for Industry Involvement in Climate Talks
Here's an article from Axios, on insights from the CEO of Chevron, Mike Wirth. According to the article,
- Chevron's CEO highlighted potential interest in the lithium business due to its importance for electric vehicle batteries.
- Chevron also focuses on carbon capture, renewable transport fuels, geothermal startups, and AI technologies, avoiding wind and solar projects.
Here are some key insights from other companies in the lithium business:
- ExxonMobil has acquired drilling rights for over 100,000 gross acres in the Smackover Formation in southern Arkansas, an important source of lithium in North America.
- Oxy Low Carbon Ventures (OLCV) has created a partnership with All-American Lithium to form TerraLithium, which combines direct lithium extraction (DLE) and direct lithium hydroxide conversion to develop a cost-effective and more responsible lithium hydroxide production approach
- Oxy's subsidiary, Oxy Low Carbon Ventures, formed a joint venture with BHE Renewables to commercialize TerraLithium's Direct Lithium Extraction (DLE) technology
