Schlumberger Unveils Scalable Lithium Production Solution with 96% Recovery Rate
Schlumberger has announced the successful large-scale demonstration of its sustainable lithium production process at its Clayton Valley plant in Nevada. The company’s innovative solution offers an end-to-end process, including advanced impurity treatment and concentration technologies, to produce high-purity lithium carbonate or hydroxide, which are essential for the growing electrification economy.
SLB’s technology extracts lithium from brine 500 times faster than traditional methods, using only 10% of the land typically required. The company revealed that the plant achieved a verified lithium recovery rate of 96% from brine while operating at one-tenth the size of a commercial-scale facility. Traditional lithium extraction methods often involve significant land use, water depletion, and harmful residues. In contrast, SLB’s approach minimizes water usage and returns the processed brine to its source, reducing environmental impact.
Gavin Rennick, president of SLB's New Energy business, emphasized the significance of this achievement. “Our demonstration plant in Clayton Valley proves our integrated approach to produce lithium at scale in the fastest, most economical, and sustainable way,” Rennick said. He added that this would accelerate the development of commercial-scale lithium production facilities, critical for supporting the global electrification transition.
This announcement follows Schlumberger’s strong financial performance in the second quarter of 2024, where the company reported a revenue increase of 13% year-over-year to $9.139 billion, surpassing analyst expectations. Adjusted earnings per share (EPS) also rose by 18% to $0.85, beating the consensus estimate of $0.83.
Investors interested in Schlumberger can gain exposure through the VanEck Oil Services ETF and the iShares U.S. Oil Equipment & Services ETF.
