Standard Lithium shares rise 1.05% after-hours as EnergyX acquires 35,000 acres in the Smackover formation.

Standard Lithium Ltd. rose 1.05% in after-hours trading, with the company's stock benefiting from the recent acquisition of 35,000 acres in the Smackover formation by EnergyX, a lithium technology startup backed by General Motors. This deal, valued at A$40 million, highlights the growing interest in boosting U.S. production of lithium, a key component in battery technology. The acquisition underscores the strategic importance of the Smackover formation, which is rich in lithium brine, and aligns with Standard Lithium's holdings in the region.