TETRA Technologies, Inc., a specialty chemicals and fluids company with expanding capabilities in lithium and critical-minerals processing, signed a term sheet outlining key parameters to form a joint venture with Magrathea Metals, Inc., a privately held technology company developing innovative processes to produce magnesium metal from seawater and brines. The proposed joint venture is aimed at rebuilding America’s domestic magnesium industrial base for defense through development of production facilities at TETRA’s Evergreen Project in southwest Arkansas.
“We are thrilled to be working with a well-established global specialty chemicals and industrial minerals player like TETRA,” said Alex Grant, CEO of Magrathea. “This joint venture will unlock the value created by our team over the past three years. We are now taking meaningful steps to evolve from a technology R&D lab to an industrial project co-developer.”
Magnesium is designated as a critical mineral/material by the U.S. federal government, appearing on both the U.S. Geological Survey’s (USGS) Critical Minerals List and on the Department of Energy’s (DOE) Critical Materials for Energy list. Its critical-mineral status reflects its importance across energy, industrial, and defense-relevant supply chains.
TETRA is building a bromine production facility near Stamps, Arkansas, called the Evergreen Project, which is expected to begin operations by the end of 2027. The plant is projected to produce 75 million lbs. of bromine annually. Besides bromine, the plant also plans to produce and monetize several critical minerals from the brine, including lithium and magnesium. Magrathea and TETRA are actively exploring ways to incorporate Magrathea’s innovative electrolytic magnesium technology into the brownfield site.
“Our intention to work with Magrathea for the clean, high-quality domestic manufacturing and production of magnesium is another key step towards achieving our ONE TETRA 2030 strategy while supporting the U.S. initiative to develop a secure domestic supply of critical minerals,” said Brady Murphy, president and CEO of TETRA. “Through our planned partnership, we would combine Magrathea’s advanced process technology with TETRA’s deep operational expertise and a world-class magnesium resource base from our Southwest Arkansas brine acreage.
Magrathea has already secured Defense Production Act Title III funding from the Department of War to support its Commercial Phase 1, which is now planned to be on-site at TETRA’s Evergreen Plant. The two companies are optimistic that further support for their project from the U.S. government is possible.
The emerging joint venture has also drawn strong support from state leadership, underscoring Arkansas’s role in advancing domestic critical-minerals production and defense manufacturing.
“This proposed new venture proves what Arkansans have always known — our people and communities can compete with anyone in the world,” said Governor Sarah Huckabee Sanders. “Magrathea and TETRA’s investment builds on Arkansas’ defense industry strength and ensures our nation’s future is powered by American innovation.”
