Emerson Electric Company (NYSE:EMR) on Tuesday disclosed grabbing a contract from Lithium Americas Corp. (NYSE:LAC) to deliver automation technologies and specialized technical services for the Thacker Pass project in northern Nevada.
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As per the deal, Emerson will provide Lithium Americas with a comprehensive automation portfolio and streamlined project execution.
The financial terms of the contract were not disclosed.
The deployment of Emerson's automation solutions will support the development of the Thacker Pass mine and processing operations, advancing efforts to establish a domestic U.S. supply of lithium.
Meanwhile, regional partner Caltrol will provide local service, maintenance, and emergency support through its valve and instrument repair center.
Construction is underway, with Emerson and Lithium Americas jointly preparing the Thacker Pass site for commissioning.
Lithium Prospects
Notably, lithium is a key material for batteries for electric vehicles, renewable energy storage, and data centers.
The company projects Thacker Pass Phase 1 to yield up to 40,000 tonnes of battery-grade lithium carbonate annually. This is sufficient to power batteries for as many as 800,000 electric vehicles each year.
As per the company, demand for lithium is projected to increase fivefold by 2040.
Recent Earnings Release
Last week, Emerson Electric reported fourth-quarter FY25 adjusted EPS of $1.62, in line with the consensus estimate, while revenue of $4.86 billion missed $4.91 billion analyst estimate.
EMR Price Action: Emerson Electric shares were down 0.02% at $129.96 at the time of publication on Tuesday, according to Benzinga Pro data.
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