TerraVolta Resources, LLC ("TerraVolta" or the "Company"), a prominent U.S. critical minerals exploration and production firm, announced major advancements in its flagship lithium project located in the Smackover formation across Texas and Arkansas. In early 2023, The Energy & Minerals Group ("EMG"), a leading global private investor in natural resources, made a significant equity investment in TerraVolta. As a result of these investments, EMG now holds a majority ownership in TerraVolta. This investment has expedited TerraVolta's journey to becoming a leading producer of U.S.-based lithium, enabling the Company to establish a strong strategic presence in the Smackover Formation. This progress is highlighted by the successful drilling of an appraisal and supply well, confirming TerraVolta's exceptional resource quality and industry-leading lithium concentrations.
Founded in 2022 by former executives from the energy and technology sectors, TerraVolta is headquartered in Houston, Texas. The Company's mission is to become the leading domestic producer of lithium and other critical minerals through advanced technology and sustainable practices. TerraVolta's leadership team includes Jamie Liang (President and CEO), Ross Tomson (Chief Technology Officer), and Nicholas Muscara (VP of Land and Business Development). TerraVolta was one of the first companies to enter the Smackover formation, a geological formation stretching from Texas to Florida, known for being one of the world's most extensive and productive lithium resources.
"We are thrilled to announce our substantial resource position, bolstered by a significant investment from one of the largest and most sophisticated energy investors," said Mr. Liang. " Through advanced subsurface analysis, our team identified the Smackover formation as a highly promising site for the development of lithium and other critical minerals. Our land team has spent years acquiring these assets, establishing a world-class position. The successful drilling and completion of our brine supply well confirm the quality of our resource and enable the Company to advance to our piloting phase, with the goal of achieving commercial production. TerraVolta's lithium projects will help the U.S. develop a domestic battery supply chain and reduce reliance on foreign sources."
"EMG's investment in TerraVolta aligns with our 'low carbon prosperity' strategy, which aims to develop high-quality, economically viable resources essential for achieving global decarbonization goals. Over the past year, TerraVolta has assembled a large-scale, concentrated acreage position, bolstered by successful drilling results. We believe that the TerraVolta platform has the potential to become a key source of lithium for the U.S. battery industry," said John Raymond, Executive Chairman of EMG.
