In the context of XtraLit’s Series B round, one of the investors is Halliburton Labs, an accelerator affiliated with the American multinational corporation Halliburton Company, one of the world’s largest suppliers of products and services to the energy industry. The investment is aimed at developing technology for extracting lithium from co-produced oil and gas water.

As a technological partner, Halliburton will participate in all major XtraLit projects and help accelerate the transition to the production scaling phase. The agreement also includes the establishment of a partnership with access to oil and gas company properties across the United States in which Halliburton is involved.

Within the scope of this collaboration, tests, and process optimization for lithium extraction from various types of technological water will be conducted. In February 2024, XtraLit will open an operational center at the Halliburton Labs campus in Houston, Texas.

Halliburton is the third-largest market share holder in the world’s oilfield services industry. The company’s activities encompass the entire range of services required for oil production, from drilling to well completion. It operates in over 70 countries, with North America being its largest revenue-generating region.