Energy Exploration Technologies, Inc. (EnergyX) announced on October 12, 2026, that it signed a binding, definitive take-or-pay lithium offtake agreement with Trafigura. Under the agreement, Trafigura will purchase 100,000 metric tons of battery-grade lithium products from EnergyX over 10 years. The deal is EnergyX’s first publicly announced commercial offtake agreement.
Based on current market prices of approximately $20,000 per metric ton, EnergyX said the agreement represents more than $2.0 billion in revenue over its term. Actual revenue will vary with market prices and delivered volumes.
The agreement covers lithium products from EnergyX’s first two projects. Project Black Giant in Chile will supply lithium carbonate, while Project Lonestar in Texas will supply lithium hydroxide. A significant share of the material will be directed to the U.S. battery supply chain, including customers serving the automotive and energy storage industries.
Production will use EnergyX’s proprietary GET-Lit direct lithium extraction and refining technology platform, which is covered by more than 150 patents. The company said it has demonstrated the technology in laboratories, at pilot scale and at demonstration plants in the United States and Chile.
EnergyX commissioned Project Lonestar in Texas in April 2026, describing it as the largest direct lithium extraction production plant in the United States. The company is also advancing the 52,500-metric-ton-per-year Project Black Giant in Chile and Smackover operations in Texas and Arkansas.
The offtake agreement follows Eni’s $225 million strategic investment in Project Black Giant and a $690 million letter of intent from the U.S. EXIM Bank for potential debt financing for the project. EnergyX said it is continuing discussions with other prospective offtake partners in the battery, automotive and energy storage markets.
Deliveries under the Trafigura agreement remain subject to customary conditions, including product qualification and facility commissioning.
Source: prnewswire.com
