Standard Lithium Ltd. announced the appointment of Michael Barman as chief development officer, effective Oct. 8.

Barman has nearly 20 years of experience advising senior executives and their boards, most recently as a managing director in investment banking at Stifel Nicolaus Canada Inc. Barman will join Standard Lithium as they look to commercialize the first of its lithium projects in the U.S.

“Mike adds extensive and impressive commercial experience to our leadership team with his long career in advising and financing companies in the energy transition sector,” Robert Mintak, CEO and director of Standard Lithium, said in a press release. “His appointment is timely given the late-stage discussions underway with a broad array of industry leaders and household names on our portfolio of projects.”

Among Standard Lithium’s portfolio includes the Phase 1A and South West Arkansas projects located in the Smackover Formation. A pre-feasibility study for the South West Arkansas project demonstrated an after-tax net present value of more than $3.1 billion with at least 30,000 metric tons per annum (mtpa) of lithium hydroxide produced over a 20-year operating life. The recently completed Phase 1A definitive feasibility study contemplates production of 5,400 mtpa of lithium carbonate over a 25-year operating life and is expected to double U.S. lithium production beginning in 2026.