AUSTIN, June 20, 2024 – Energy Exploration Technologies Inc. (EnergyX) has announced a major lithium project in North America, Project Lonestar Lithium. The project aims to solidify EnergyX’s position as a leader in the global energy transition and bid to help secure the US battery supply chain.
This is the second major lithium project announcement for EnergyX, who in 2023 acquired 90,000 acres of lithium mining concessions in Chile, the second largest lithium producing country in the world, and launched Project Black Giant. In the same year, the US Department of Energy selected EnergyX for a $5 million grant, with a $5 million company match, to build a demonstration plant to produce lithium hydroxide from geothermal brines in the United States. This plant sets the foundation for Project Lonestar Lithium.
Project Lonestar Lithium, located in the “Ark-La-Tex” region, will have a target lithium production of 5,000 tons/year in Phase 1, and 25,000 tons/year in Phase 2. Currently, the largest active lithium plant in the US produces 5,000 tons/year, underscoring the vast potential of Project Lonestar to ramp up US lithium production. Earlier in 2023, EnergyX closed its Series B financing from strategic institutional partners including General Motors and POSCO, who have first rights to portions of EnergyX’s lithium production offtake.
As EnergyX has been steadily moving towards commercialization, the company has also partnered with world-renowned Engineering, Procurement and Construction (EPC) Partner, Kiewit, to undertake the initial front end engineering plans of Project Lonestar, and to help enhance the scalability and efficiency of EnergyX’s suite of LiTAS™ DLE lithium technologies.
EnergyX CEO Teague Egan commented on the project, saying “Project Lonestar Lithium will take us one step closer to securing the US battery supply chain.” Teague continued, “This has been a long time in the making, and we still have a long way to go, but it is crucial that US-based companies really focus on developing domestic resources to reduce our reliance on external, offshore suppliers for critical elements like lithium. With incredible government and project partner support, we are excited as Project Lonestar takes shape.”
About EnergyX
Founded in 2018, EnergyX is focused on providing efficient, sustainable solutions to challenges facing global lithium supply chains. From the raw battery materials extraction process to refining, and the manufacturing of next generation batteries, EnergyX is innovating from lithium brine to battery. The company has filed nearly 100 patents to date, and is developing its proprietary LiTAS™ suite of DLE technologies to respond to the challenges faced by lithium producers, including energy efficiency, water conservation, extraction time, and sustainability.
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