Energy Exploration Technologies Inc. has announced that it has secured commitments of $20 million in financing. Based in the United States, EnergyX is a technology company that is focused on delivering scientific innovations in sustainable lithium extraction methods and solid-state battery energy storage systems.
This funding also makes EnergyX the highest valued direct lithium extraction technology company on the market, according to a statement.
Kris Haber, Director of Obsidian commented, “We are pleased to invest in EnergyX at this critical time. Some in the electric vehicle (EV) industry have likened lithium mining to the early days of oil exploration. EnergyX has developed a technology for lithium extraction whose potential economic impact on the industry, is similar to ‘fracking’ in terms of efficiency and cost saving, yet limiting environmental impact and global carbon footprint.”
EnergyX CEO Teague Egan commented, “EnergyX has been diligently working towards creating a cleaner lithium space in conjunction with other global leaders. We are all very excited to continue that focus with the additional support through this Series A funding,” Egan continued, “There is a major oncoming shift across the entire battery material supply chain including mining and materials, anode/cathode, and cell assembly, and EnergyX plans to be at the epicenter for decades to come.”
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