T5 Smackover Partners Signs Offtake Agreement with Glencore for Lithium Carbonate from East Texas Smackover Formation

DALLAS, June 2, 2026 /PRNewswire/ -- T5 Smackover Partners, a U.S. geothermal energy and critical minerals company focused on the Smackover Formation in East Texas, has signed a binding offtake agreement with Glencore Ltd. for the supply of lithium carbonate produced from T5's East Texas operations.

Under the agreement, Glencore will market 100% of T5's Phase 1 lithium production, estimated at approximately 5,000 metric tons per year over a 5-year term, totaling approximately 25,000 tons, with deliveries beginning at first commercial production. The agreement reinforces the development of domestic lithium production in the United States, strengthening U.S. supply chain national security for a critical mineral essential to battery manufacturing, defense applications, and the broader energy transition. T5's East Texas project will produce lithium carbonate from direct lithium extraction (DLE) technology, an ancillary biproduct of its geothermal energy plants.

"Partnering with Glencore brings speed to market for T5 in East Texas. Their global lithium presence allows us to focus on production and on getting royalty checks into the hands of East Texas landowners faster. This community made T5 possible, and they deserve to share in that global value as soon as possible," said CEO and Founder, Bruce Thompson.

This agreement represents a meaningful step forward as the United States builds out the critical minerals and lithium infrastructure required to support a new generation of domestic manufacturing. From battery gigafactories and EV assembly plants to grid-scale energy storage, defense applications, and advanced electronics, U.S. industrial capacity is expanding rapidly — and that capacity depends on reliable, domestically sourced upstream supply. Projects like T5's East Texas development are the foundation of that supply chain maturity, connecting American resources directly to American manufacturers.

Robin Francois, Head of Lithium at Glencore, commented: "We are pleased to have signed this offtake agreement with T5 Smackover Partners, further deepening Glencore's North American critical minerals partnerships. T5's East Texas project is positioned to deliver a reliable, domestically produced source of battery-grade lithium carbonate, supporting customers across North America and globally."

Cole Fisher, President & Co-Founder of T5 Smackover Partners, added: "Partnering with Glencore, one of the world's leading commodity firms, validates the quality of our resource and the strength of our development plan. This agreement allows our team to focus on execution: bringing geothermal power, lithium, and critical minerals online in East Texas. The Smackover Formation is a nationally strategic asset, and East Texas is positioned to lead America's critical minerals future with Glencore's global reach."

About T5 Smackover Partners
T5 Smackover Partners is developing an integrated geothermal energy and direct lithium extraction (DLE) platform targeting the Smackover Formation in East Texas. T5 Smackover Partners is committed to advancing Texas as the national leader in geothermal energy and critical minerals production to ensure that the benefits of this development flow back to the landowners, communities, and people of East Texas who make this project possible.

The Smackover Formation is one of the most strategically significant subsurface resources in the United States, a nationally important geothermal, lithium, and critical minerals formation located entirely within the U.S. domestic energy heartland. Developing this asset responsibly secures supply chains that are foundational to America's economic competitiveness, national security, and energy independence.

About Glencore
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that advance everyday life.

With over 140,000 employees and contractors and a strong footprint in over 30 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of offices.

Glencore's customers are principally industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.

SOURCE T5 Smackover Partners