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Energy Storage

Occidental forms venture to extract lithium in California

by Matt Blois
June 13, 2024 | A version of this story appeared in Volume 102, Issue 18
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Occidental Petroleum is forming a joint venture with Berkshire Hathaway–owned BHE Renewables. The partners aim to extract lithium from brines at a California geothermal power plant that BHE owns. In 2022, Oxy acquired TerraLithium, which is developing technology to chemically extract lithium from brine. Berkshire Hathaway owns a 28% stake in Oxy. Two other oil companies, ExxonMobil and Equinor, also have plans to extract lithium using similar techniques.

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