AUSTIN, September 26 2024 – EnergyX has reached a noteworthy milestone as it surpasses 100 team members worldwide, with 80% based in the US – and will soon open its additional 40,000 sq ft production facility in Austin, Texas. This news comes on the heels of securing an additional $50 million in capital through its Regulation A fundraise, marking a significant step in the company’s rapid expansion and continued development of sustainable lithium extraction technology and next-generation solid-state battery technology.
Founded less than 6 years ago by entrepreneur Teague Egan, EnergyX’s growth has turned heads in the lithium and battery industry. The company initially developed proprietary Direct Lithium Extraction (DLE) technology, which goes by the LiTAS™ moniker. This evolved into a suite of technologies allowing EnergyX to complete an end-to-end extraction and refinery process to produce battery grade lithium materials.
A further strategic pivot saw the company start acquiring its own lithium mines in 2023, following multiple strong pilot plant results in North and South America. The move positioned EnergyX to emerge as a major player in the projected $134 billion lithium industry by 2035.
EnergyX’s impressive technology can recover 300% more lithium than conventional methods, with traditional extraction typically yielding only 30% to 40% of lithium from brine, whereas EnergyX’s DLE achieves a 90%+ extraction rate. The technology gained traction and recognition within the industry, raising over $110 million total in investments, and being backed by major investors including General Motors, Eni, and POSCO.
With two Tier 1 projects underway, Black Giant in Chile estimated to produce 40,000 tons of lithium per year, and Project Lonestar in the U.S. estimated at 25,000 tons per year, the company is planning to bring on hundreds of new jobs over the 100 headcount threshold. The new 40,000 sq ft mixed-use facility in Austin TX will house EnergyX’s innovation lab, global operations controls, DLE production, and warehouse.
EnergyX CEO Teague Egan commented: “We are thrilled to be adding so many incredible scientists, engineers, and operators to the EnergyX team. While I tried to keep the headcount under 100 for as long as possible, each individual is a major contributor to our execution plans… As we transition from research to commercialization, the most exciting parts are ahead of us”.
Austin, dubbed “Silicon Hills” by many, is widely regarded as a growing innovation hub with centric geography in the middle of the United States. Texas is already the energy capital of the U.S. with Exxon, Chevron and the rest of the oil and gas majors, but now largely due to the influx of high-profile moves by companies like Elon Musk’s Tesla, who recently confirmed that they are also relocating the X and SpaceX Headquarters, and Oracle, Meta, Apple, Google, and others, Austin has become a tech hotspot.
As EnergyX continues to grow in this dynamic ecosystem, it remains focused on its long-term goal: driving the clean energy revolution forward by providing advanced solutions to the battery and lithium supply chain, as well as creating jobs and contributing to Texas’ tech-driven economy.
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James Ellsmoor, Director of Communications
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