TerraVolta Announces Flagship U.S. Lithium Project and Partnership with The Energy & Minerals Group

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Jun 10, 2024, 09:00 ET

HOUSTON, June 10, 2024 /PRNewswire/ -- TerraVolta Resources, LLC ("TerraVolta" or the "Company"), a leading U.S. critical minerals exploration and production company, today announced significant developments regarding its flagship lithium project in the Smackover formation across Texas and Arkansas. In early 2023, The Energy & Minerals Group ("EMG"), one of the largest private investors across the natural resources complex globally, made a substantial equity commitment to TerraVolta and, by virtue of fundings to date, is the majority owner of TerraVolta. This investment from EMG accelerated TerraVolta's progress towards becoming a premier producer of U.S.-based lithium, enabling the Company to secure a significant strategic position in the Smackover Formation complemented by the drilling of a successful appraisal and supply well that further validated TerraVolta's premium resource and industry-leading lithium concentrations.

Based in Houston, Texas, TerraVolta was founded in 2022 by former executives in the energy and technology sectors. The Company's mission is to be the leading domestic producer of lithium and other critical minerals by using advanced technology and sustainable practices. TerraVolta is led by Jamie Liang (President and CEO), Ross Tomson (Chief Technology Officer), and Nicholas Muscara (VP, Land and Business Development). TerraVolta was one of the earliest entrants in the Smackover, a geologic formation that spans Texas to Florida and is one of the most expansive and prolific lithium resources in the world.

"We are excited to announce our substantial resource position in connection with a significant investment by one of the largest and most sophisticated energy investors," said Mr. Liang. "Utilizing advanced subsurface analysis, our team identified the Smackover as a compelling prospect for lithium and other critical mineral development. Our land team has spent years accumulating these assets and has built a world-class position. The successful drilling and completion of our brine supply well validates the quality of our resource and enables the Company to advance to our piloting phase as we aggressively aim for commercial production. TerraVolta's lithium projects will enable the U.S. to build out a domestic battery supply chain and reduce our reliance on foreign sources."

"EMG's investment in TerraVolta is representative of our 'low carbon prosperity' strategy via which we develop high quality, economically viable resources focused on the critical input commodities required to achieve global decarbonization goals. To this end, given the large scale, concentrated acreage position assembled over the past year complemented by the successful drilling results, we believe 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.

About TerraVolta
TerraVolta Resources is a U.S. critical minerals exploration and production company. Based in Houston, Texas, the Company's mission is to pioneer a more sustainable future by becoming the leading domestic producer of lithium and other critical materials. For more information, please visit www.terravolta.com.

About EMG
The Energy & Minerals Group (EMG) is a specialized natural resource focused private equity firm founded in 2006 with current assets under management ("AUM") of approximately $14 billion as of March 31, 2024. In addition, EMG's funds and co-investments have returned approximately $11 billion to Limited Partners to date. EMG targets equity investments of $150 million to $1,000 million across the natural resource industry, which includes the extraction and processing of the critical metals and minerals to facilitate decarbonization as well as upstream and midstream energy.

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SOURCE TerraVolta Resources