TerraVolta Resources, a prominent U.S. company focused on critical minerals exploration and production, has been selected by the U.S. Department of Energy (DOE) for a significant $225 million grant. This funding will be used to support the development of a groundbreaking lithium production facility, exceeding $1 billion in investment, in the Texarkana region, spanning Arkansas and Texas.
The DOE’s selection of TerraVolta’s Project Liberty Owl as a recipient of Bipartisan Infrastructure Law funding signifies a major step towards bolstering the domestic production of advanced batteries and battery materials nationwide. Project Liberty Owl is one of the largest provisional awards allocated to a U.S. critical minerals project, highlighting the importance of this initiative.
The DOE’s funding will facilitate TerraVolta’s ambitious plans to design, construct, and operate Project Liberty Owl, a large-scale lithium production and conversion facility. This state-of-the-art facility will leverage direct lithium extraction technology to extract battery-grade lithium from domestic brine resources, initially targeting a production capacity of at least 25,000 tonnes of lithium carbonate annually. This output translates to enough lithium to power approximately 500,000 electric vehicles per year, demonstrating the project’s significant contribution to the clean energy transition.
TerraVolta’s commitment to domestic lithium production has been further solidified through the successful completion of a supply well earlier this year, validating the company’s high-quality resource and industry-leading lithium concentrations. This achievement, coupled with the DOE’s support, has positioned TerraVolta as a frontrunner in the critical minerals space.
Jamie Liang, President and CEO of TerraVolta, expressed the company’s enthusiasm: “Over the past two years, we’ve secured a substantial land position in the Smackover trend and confirmed the exceptional quality of our resources. We are thrilled to have the U.S. Department of Energy’s endorsement for Project Liberty Owl as we move forward with the design and engineering phase for this facility in the Texarkana region. With the DOE’s support, we will create American jobs, harness domestic lithium resources, and meet the U.S. economy’s growing demand for EVs, grid-scale batteries, and consumer products.”
John Raymond, Chairman of The Energy & Minerals Group (EMG) and TerraVolta, emphasized the strategic significance of this project: “Our investment in TerraVolta reflects EMG’s dedication to forward-looking green commodities that are vital for the successful implementation of global carbon reduction initiatives. We are deeply grateful for the DOE’s grant in support of TerraVolta and Project Liberty Owl, as it is fundamental to bridging the current gap in the domestic U.S. lithium supply chain.”
The Liberty Owl facility is anticipated to create over 125 permanent jobs in the Texarkana region, contributing to economic growth and development. The lithium produced at this facility is projected to lead to the reduction of over 2.2 million tonnes of carbon dioxide emissions annually, highlighting the project’s positive environmental impact. Construction of Liberty Owl is scheduled to commence in 2028, with full operational capacity expected in 2029.
Rob Sitterley, President and CEO of AR-TX Regional Economic Development Inc., highlighted the transformative potential of this project for the Texarkana region: “Today’s announcement is a momentous occasion for Texarkana as we embark on energizing and expanding our economic landscape. We are a region that fosters companies at the forefront of innovation. TerraVolta’s investment will not only generate new jobs and significant local revenue but also position our community at the intersection of technological advancement and environmental sustainability. We eagerly anticipate their success and continue AR-TX REDI’s efforts to propel the Texarkana region forward.”
Headquartered in Houston, Texas, TerraVolta is led by a team of experienced professionals, including Jamie Liang, President and CEO; Ross Tomson, Chief Technology Officer; and Nicholas Muscara, VP, Land and Business Development. Earlier this year, the company announced a substantial equity investment from EMG, a leading global private investor in the natural resources sector.
TerraVolta Resources is a U.S. critical minerals exploration and production company committed to pioneering a more sustainable future by becoming a leading domestic producer of lithium and other critical materials. For further information, please visit www.terravolta.com.
The Energy & Minerals Group (EMG) is a specialized private equity firm with a focus on natural resources, established in 2006. As of June 30, 2024, EMG manages approximately $13 billion in assets. Notably, EMG’s funds and co-investments have generated approximately $11 billion in returns for Limited Partners. EMG targets equity investments ranging from $150 million to $1,000 million across the natural resource industry, including the extraction and processing of critical metals and minerals essential for decarbonization, as well as upstream and midstream energy.
The DOE’s Office of Manufacturing and Energy Supply Chains (MESC) plays a critical and unique role in stimulating investments in America’s energy future. MESC focuses on reshoring, skill development, and scaling up U.S. manufacturing across energy supply chains. The office serves as a key driver of clean energy deployment and accelerates America’s transition to a resilient and equitable energy future through data-driven investments in manufacturing capacity and workforce development. Learn more at: www.energy.gov/mesc or LinkedIn.
