EnergyX
EnergyX is a Critical Minerals & Mining Tech company founded in 2018 and based in Austin, USA.
EnergyX, legally Energy Exploration Technologies, Inc., was founded in 2018 by Teague Egan. It is incorporated in Puerto Rico and headquartered in Austin, Texas. Its GET-Lit platform pulls lithium from brine with membranes, solvents and adsorbents, and a refining step brings the output to battery grade. It is developing Project Black Giant in Chile, planned at 52,500 tons a year of lithium carbonate, and Project Lonestar in the Smackover region of Texas and Arkansas, where it commissioned a demonstration plant in Hooks, Texas, in March 2026. EnergyX plans to earn revenue by selling battery-grade lithium under long-term offtake contracts. Through June 30, 2026 it had raised about $178 million from private and Regulation A+ share offerings, and on July 6, 2026 it signed binding agreements for a $225 million equity investment by Eni in Project Black Giant. It held $8.0 million in cash on June 30, 2026.
EnergyX is testing whether direct lithium extraction can move from pilots to contracted supply. On October 12, 2026 it signed a binding 10-year take-or-pay offtake with Trafigura for 100,000 metric tons of battery-grade lithium, worth about $2.0 billion at $20,000 a ton. In May 2026 it signed an MOU with Compass Minerals for a plant of up to 30,000 tons a year near Utah's Great Salt Lake, and in June 2026 the U.S. Army selected it to build a lithium processing facility at Red River Army Depot in Texas.
At a glance
Total raised
Undisclosed
Headcount
—
Headquarters
Austin
Founded
2018
Status
Private
Subsector
Critical Minerals & Mining Tech
Materials Science, ranked
Top 25 Materials Science companies →Funding history
Total raised
—
Rounds tracked
0
No dated funding rounds on file. This company is privately held and may be raising or operating on undisclosed capital.
In the news
EnergyX · last 30 days
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