The nation’s first accelerator dedicated to lithium and battery supply-chain innovation kicked off Monday at the El Dorado Conference Center. The Arkansas Lithium Technology Accelerator is a three-week program that will connect a cohort of energy technology startups with Arkansas-based lithium producers.
ALTA is led by the Venture Center with support from Standard Lithium and other producers; academic partners such as the University of Arkansas, South Arkansas College and Southern Arkansas University; and funding from the Walton Family Foundation.
The three businesses in the inaugural cohort are Telescope Innovations, RAM Geothermal and Nano One.
Arthur Orduña, executive director of the Venture Center, said the accelerator was born out of support for the first Arkansas Lithium Innovation Summit last year and partnerships with Standard Lithium and other major producers and stakeholders committed to building the industry in Arkansas.
“Collectively, we decided to leverage our business-driven industry accelerator model that has been successful in fintech and Veteran-owned small business programs and focus it on helping to build Arkansas’ position as the emerging leader in both Lithium production and innovation by bringing the best and brightest technology companies to the state with the goal of having them plant their flag in Arkansas,” he said.
At the event, many leaders spoke about the importance of lithium to the growth of the Natural State’s economy. Clint O’Neal, executive director with the Arkansas Economic Development Commission, spoke about how El Dorado has been a consistent energy hub and should continue to attract and retain talent.
“It’s about how we can support our communities,” he said.
He said he is confident that Arkansas can be a key player in lithium and that the state has “good momentum.”
Jesse Edmonson, director of government relations for Canada-based Standard Lithium, said that the company does not want lithium to be a “boom and bust” cycle for the area. Standard Lithium’s focus is sustainability and scalable direct lithium extraction (DLE) technology and has flagships across Arkansas and Texas.
Other speakers were Erik Pollack of the University of Arkansas; Chris Wasson, regional manager at Entergy Arkansas; and James Hendren, chairman of the Venture Center board.
The three cohort companies were all also given time to speak. Nano One’s CEO and founder, Dan Blondal, said that the U.S. needs to innovate when it comes to lithium so that it’s good for the economy, environment and communities.
Nano One has more than 40 global patents, strategic partnership and a team of experts working to produce the world’s cleanest cathodes, according to its website.
Telescope Innovations works to automate and optimize lithium and critical material processing. RAM Geothermal’s mission is to deploy geothermal solutions in Arkansas’ Smackover region.
All three companies will have pitch opportunities, a pilot-planning session with lithium producers, access to investors and more through ATLA. Programming will take place throughout the state in El Dorado, Magnolia, Little Rock and northwest Arkansas.
The accelerator will conclude with a demo day in northwest Arkansas on July 31.
Image above: Chris Wasson of Entergy speaks at the ATLA launch. (Photo courtesy of the Venture Center)
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