TETRA Technologies to Establish Joint Venture with Magrathea Metals
Joint Venture Announcement: TETRA Technologies, Inc. has signed a term sheet to form a joint venture with Magrathea Metals, Inc. to combine their technologies and resources for magnesium production in Southwest Arkansas.
Evergreen Project Goals: The partnership aims to rebuild the U.S. magnesium metal defense industrial base at the Evergreen Project, which will include a bromine production facility expected to produce 75 million lbs. annually by late 2027.
Critical Minerals Extraction: TETRA plans to extract additional critical minerals, such as lithium and magnesium, from the same brine resource used in the Evergreen Project.
Support from Defense Production Act: Magrathea has received funding from the Department of War under the Defense Production Act to support the initial deployment phase of the Evergreen Project, aligning with TETRA's ONE TETRA 2030 strategy for secure domestic mineral supplies.
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Pullen Investment Management Reduces Stake in TETRA Technologies
- Stake Reduction: Pullen Investment Management sold 384,274 shares of TETRA Technologies in Q4 2026, with an estimated transaction value of $2.96 million, reflecting a cautious strategy amid stock price fluctuations.
- Decline in Position Value: The reduction resulted in a $1.08 million decrease in TETRA's position value within Pullen's portfolio, highlighting the stock's volatility and its impact on investment strategies.
- Strong Market Performance: As of January 16, 2026, TETRA shares were priced at $11.57, marking a 132% increase over the past year, significantly outperforming the S&P 500 by 114 percentage points, indicating a notable improvement in the company's profitability.
- Investment Strategy Shift: Following the stake reduction in TETRA, Pullen continues to allocate funds into lower-risk index funds, demonstrating a focus on risk management amid cyclical fluctuations in the energy sector.

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