EnergyX (Energy Exploration Technologies, Inc.), established in 2018 by Teague Egan, is developing advanced solutions for sustainable energy production and storage. The company specializes in direct lithium extraction technology and innovative battery systems, holding 120 patents across these domains. With approximately 100 team members globally, EnergyX combines scientific expertise with practical applications to address growing demands in the renewable energy sector. Their focus extends from improving lithium production efficiency to enhancing battery performance for electric vehicles and grid storage applications.
Battery Technology
EnergyX’s battery division concentrates on solid-state lithium-ion technology through their SoLiS platform. This system replaces traditional graphite anodes with lithium metal, delivering substantial improvements in energy density and safety characteristics. The versatile electrolyte composition allows integration with various cathode materials, enabling continuous advancement in battery capabilities.
The company’s battery solutions target three main applications: electric vehicles, renewable energy storage, and grid-scale systems. For EVs, EnergyX’s technology aims to extend driving range beyond 600 miles per charge while supporting battery lifespans up to 500,000 miles. Their energy storage solutions address intermittency challenges in renewable power generation, providing reliable backup power for both utility-scale and residential applications.
Additionally, EnergyX’s LiTAS™ technology enhances the efficiency of lithium extraction, achieving over 90% recovery rates while reducing water consumption by 80% compared to conventional methods. This integrated approach connecting lithium production to battery manufacturing demonstrates EnergyX’s comprehensive strategy in the energy storage sector.
Recent Projects
In 2024, EnergyX unveiled its new 40,000 ft² facility in Austin, Texas, housing their innovation laboratory, global operations center, and manufacturing capabilities. The company launched two significant initiatives: Project Black Giant in Chile, targeting 45,000 tonnes of annual lithium production, and Project Lonestar in the United States, planning 25,000 tonnes of yearly output. Both demonstration plants are scheduled to begin operations in early 2025.
Investors
EnergyX has secured substantial financial backing from prominent industry players, including General Motors Ventures, POSCO, and Eni SpA. The company successfully raised $520 million through various funding rounds, including $75 million through a Regulation A offering that enabled retail investor participation. These investments support EnergyX’s expansion plans and technological development programs.
Business Details
Location: San Juan, Puerto Rico (Headquarters), Austin, Texas (Science Headquarters)
Website: https://energyx.com
LinkedIn: https://www.linkedin.com/company/energyx
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