General Motors backs EnergyX lithium tech

Already pushing the boundaries of portable energy storage technology through its development of solid-state batteries, Energy Exploration Technologies Inc. or EnergyX, announced a US$50 million funding from General Motors Co. to help the company develop its lithium extraction and refinery technology.

EnergyX's direct lithium extraction (DLE) technology can extract lithium metal directly from brine and potentially in anode-ready form for electric vehicle batteries, enabling a more cost-effective and sustainable lithium recovery method to tap into the vast lithium supply chain in North America.

Exploring any possible venue to supply its future EV series and subsequent Ultium platform, General Motors has been investing in every stage of the battery supply chain in North America, from raw materials to processing, to cell components and full battery cell production.

"We are committed to securing EV critical minerals that are sustainable and cost competitive to maintain our leadership position among automakers," said General Motors Vice President of Global Purchasing and Supply Chain Jeff Morrison. "The investment in EnergyX is a further proof point of GM's leadership position."

The extensive collaboration between EnergyX and GM includes three key components:

• A technology development program to support the commercialization of EnergyX's DLE and refinery processes, which could complement or replace traditional methods of brine evaporation ponds.

• An agreement enabling GM to access competitive lithium offtakes for GM's exclusive use in EV production, including material sourced from North and South American mining companies contracted by EnergyX.

• Additional strategic financing for lithium production projects in North and South America, using EnergyX's technology to drive potential supply chain opportunities for GM.

"The EnergyX team of scientists and engineers have worked relentlessly for five years developing cutting-edge DLE technology to solve the immense bottlenecks that have limited global lithium production and supply chain," said EnergyX CEO Teague Egan. "This single bottleneck (a massive lithium shortage) is the biggest challenge to scaling EV production. We will unlock lithium supply in the U.S., a pivotal move in expanding the EV industry."

While exploring the potential of solid-state batteries is a frontier that will eventually make its way to the mainstream, the lucrative potential of lithium is just too good to pass up.

"There are many ways of gauging success, but few are more rewarding than the support of leaders like GM," said Egan. "We're energized by GM's investment and will keep a 'Day 1' attitude as we pursue our goal of making EnergyX the biggest lithium company in the world."

Funding research requires capital, and as it stands, lithium will continue to hold the throne of battery supremacy until such a time as something more economical can take its place. Until then, supplying the astronomical demands of present lithium needs is the most viable option.

In 2022, EnergyX became the first company to design, build, and commission an in-field pilot plant in the Lithium Triangle – a name that shares similarities to British Columbia's Golden Triangle in Canada for its vast quantities of gold – which encompasses over 65% of the known global lithium reserves found in South America and split between Chile, Bolivia, and Argentina.

The company's LiTAS (Lithium-Ion Transport and Separation) technology already increases lithium recovery rates to over 90% from the current industry standard of 30-40% using ponds and hit an incredible 94% during its first field trials.

After a successful five-month pilot program proving the efficacy of its LiTAS technology, EnergyX now hopes to scale this system to more robust market demonstration plants at five regional test beds in North and South America, to soon be followed by full-scale commercialization.

"EnergyX is developing a novel direct lithium extraction process that's not only cost competitive but also will reduce energy, land and water usage as compared to the current extraction and processing process for brine-based lithium," said Morrison. "We are excited to be partnered with EnergyX on their efforts."

This new round of financing, funded by GM and other investors, helps solidify EnergyX as one of the world leaders in DLE technology and will also enable the company to broaden its research and development efforts for pure lithium metal anodes and its solid-state lithium metal battery program, SoLiS.

Amid building a 40,000-square-foot innovation and manufacturing facility in Austin, Texas, to house its growing operation, EnergyX currently counts over 50 employees and will increase that number to 100 in the coming months.