Global Geothermal Power: Policies, Funding, Wells, Strengths, Opportunities and Barriers Geothermal is moving into a broader investment cycle. In 2026, the story is no longer limited to volcanic power plants in a few classic markets; it now includes enhanced geothermal systems, closed-loop designs, district heating, superhot rock, lithium from brines and industrial heat. Across the United States, Canada, Germany, the United Kingdom, Australia, New Zealand, Japan, Iceland, France and Italy, the sector is being shaped by a simple question: who is de-risking the first wells, and who is ready to finance the next ones? United States: the next-generation testbed The United States has the broadest geothermal innovation ecosystem in this group, with a mature conventional base in the West and a fast-growing next-generation pipeline. The main policy signal in 2026 is the Department of Energy’s US$171.5 million funding opportunity for next-generation geothermal field-scale tests, exploration...
Occidental Petroleum and Berkshire Hathaway Join Forces to Revolutionize Lithium Extraction from Geothermal Brine
In an exciting development for the energy sector, Occidental Petroleum (Oxy) has announced a groundbreaking joint venture with Berkshire Hathaway to commercialize direct lithium extraction (DLE) from geothermal brine in California's Salton Sea. This initiative represents a significant step towards sustainable lithium production, leveraging cutting-edge technology and the vast geothermal resources of the region.
A Game-Changing Partnership
Occidental Petroleum, a Houston-based oil and gas giant, is collaborating with its largest shareholder, Berkshire Hathaway, to tap into the lucrative and essential market of lithium production. This partnership is set to utilize geothermal waste brine, a byproduct from Berkshire’s extensive network of geothermal plants, as the primary feedstock for lithium extraction.
The Salton Sea, home to 10 geothermal plants owned by Berkshire Hathaway, generates 345 MW of electricity and produces a staggering 50,000 gallons of lithium-rich brine per minute. By harnessing this brine, the joint venture aims to extract high-purity lithium, a crucial component in batteries that power everything from smartphones to electric vehicles.
TerraLithium's Revolutionary Technology
At the core of this venture is TerraLithium, a subsidiary of Occidental formed in 2019. TerraLithium has developed a highly efficient DLE technology that uses advanced adsorbents and chemically modified approaches to capture trace amounts of battery-grade lithium from brine solutions. Impressively, TerraLithium’s process boasts a capture efficiency rate exceeding 99%, making it a leading technology in the field.
Expanding Horizons
If the current demonstration tests prove successful, Berkshire Hathaway plans to expand its operations, building, owning, and operating additional DLE facilities across California. Furthermore, the joint venture intends to license TerraLithium’s technology for use in other regions, potentially revolutionizing the lithium extraction industry on a global scale.
Competitive Landscape
Occidental’s ambitious project is part of a broader trend among energy companies to invest in lithium extraction. ExxonMobil and Equinor have also entered the North American lithium brine market. Equinor recently announced a significant investment deal with Standard Lithium, potentially pouring up to $130 million into lithium projects in Texas. Similarly, ExxonMobil has initiated plans to drill lithium brine wells in Arkansas, with commercial production anticipated by 2027.
A Sustainable Future
This partnership not only underscores the growing importance of lithium in the global energy landscape but also highlights the potential of innovative technologies to drive sustainability. By utilizing geothermal brine, a renewable and abundant resource, Oxy and Berkshire Hathaway are paving the way for a greener and more efficient lithium extraction process.
The joint venture between Occidental Petroleum and Berkshire Hathaway marks a significant milestone in the energy transition, blending traditional oil and gas expertise with cutting-edge renewable technology. As the world moves towards sustainable energy solutions, initiatives like this will be crucial in meeting the increasing demand for essential resources like lithium, while minimizing environmental impact. Keep an eye on this space as these industry giants continue to innovate and shape the future of energy.
Source:Spe
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