Assisted by Halliburton, Two Startups Slash Costs of Critical Minerals Refining

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Written by Paul Wiseman for IIR News Intelligence (Sugar Land, Texas)

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Summary

Part of a larger trend, oil companies lean into critical minerals.

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Oil Industry's Push for Critical Minerals

Increasingly the oil industry is seeking ways to diversify, and with the current push on energy security and critical minerals, this sector is getting significant attention and investment.

As part of that Halliburton Labs, a wholly owned subsidiary of Halliburton Company, has announced the addition of two companies with advanced minerals processing procedures to its "collaborative ecosystem."

Industrial Info Resources is tracking Mandrake Resources' Utah Lithium Project in which one of the collaborators, Electroflow Technologies, is testing its lithium-from-brines extraction system.

Industrial Info Resources offers information on the project in its Global Market Intelligence (GMI) Metals & Minerals Project Database, where readers can find a details--including construction schedules, investment values and necessary equipment--in a project report.

Two companies Halliburton Labs is collaborating with have developed systems for greatly speeding and reducing costs for minerals processing--one for lithium, the other for copper.

The Technology

Electroflow Technologies is a San Bruno, California-based startup. According to Industrial Info's Frankie Vo, "Electroflow has developed an electrochemical process that goes from extracting lithium from brine to refining it into lithium iron phosphate in three steps instead of the traditional 10-step process."

Halliburton Labs says Electroflow's process can produce "lithium iron phosphate (LFP) cathode material directly from lithium brines." LFP is a key ingredient in batteries for electric vehicles (EVs), battery electric storage systems (BESS), and other uses.

Vo adds, "They entered into an agreement to install a demonstration plant at Mandrake Resources' Utah Lithium Project to test the viability of their technology. If successful, both companies will enter into a partnership to use it longterm."

Another involved company is Massachusetts-based SiTration, Inc. which, according to the press release, "unlocks a faster and lower-cost copper supply through the recovery of critical metals directly from mining waste streams."

Says Industrial Info Resources' Vo, "SiTration has developed a new electro-based method of extracting copper from the aqueous stream and refining it into copper cathode in one step instead of the traditional process of three steps."

Vo added, "The company entered into an agreement with mining giant BHP to set up a modular pilot testing unit at BHP's previously closed Copper Cities Mine in Arizona. The pilot will test the viability of their new technology over a two-month period. They are predicting to produce around two tons of copper cathode from the pit water."

SiTration is also among four companies receiving some Department of Energy (DOE) funding under its Office of Critical Minerals and Energy Innovation's Mines and Minerals Pilots program, announced August 18. Overall, nine companies will split $162 million targeting "projects that will recover critical minerals, materials, and other valuable byproducts from industrial feedstocks," according to the DOE statement.

What Is Halliburton Labs?

In brief, Halliburton Labs is the oil field service giant's plan to offer its extensive laboratory, testing facilities, and expertise to qualifying startups. The company describes itself as "a collaborative accelerator and industrial environment that helps early-stage, hard-tech energy and climate-tech companies scale their businesses."

In return for this approximately 12-month program, Halliburton has a variety of options for receiving paybacks, but declares that "There are no demands for intellectual property rights, rights of first refusal, or board/observer seats" in return for being chosen.

Oil Companies Hedging their Future

For decades oil companies have eyed a future where either supply or demand for oil runs out--and how to hedge that bet. During the Biden Administration there were incentives to invest in renewables like wind and solar, and many did that.

With the January 20, 2025, return of Donald Trump, the current administration has seen to it that the winds have changed and the sun has set on incentives for renewables. It has instead switched its financial support to onshore production and processing of critical minerals--and oil companies have adapted to the change.

Next, Industrial Info Resources will look at SLB, ExxonMobil, Liberty, and other producers and oil field service companies who are investing heavily in various aspects of critical minerals including mining and processing.

By the Numbers

• 10 down to one: Reduction in number of processing steps for lithium capture and refining offered by Electroflow
• Three down to one: Reduction in number of processing steps for copper capture and refining offered by SiTration

Key Takeaways

• Halliburton is among many oil field service companies branching into critical minerals. Its wholly-owned subsidiary Halliburton Labs partners with startups, offering lab space and mentoring to chosen companies to further their research.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).