# EnergyX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/energyx

- Industry: Energy Storage & Batteries
- Headquarters: Austin, US
- Website: www.energyx.com
- Total disclosed funding: $70M
- Latest round: Series B (Apr 11, 2023)
- Investors on record: 8

## About

Based in Texas, US, and founded in 2018 by Chief Executive Officer Teague Egan, Energy Exploration Technologies, Inc. doing business as EnergyX, is a renewable energy company providing battery supply chain solutions from brine lithium extraction and refinement to the development of batteries. In October 2023, Energy Exploration Technologies, Inc. raised USD 50 million in Series B funding led by General Motors Ventures, POSCO Holdings, Elohim Partners, and IMM Investment Global also participated in the round.

Energy Exploration Technologies, Inc. developed a product known as lithium-ion transport and separation (LiTAS), which helps in lithium extraction from brine sources and improves lithium recovery for battery use. LiTAS uses technologies such as adsorments technology, solvent extraction, and membranes for improving direct lithium extraction, and helps to produce a wide range of battery materials including lithium hydroxide, lithium carbonate, and lithium metal. The company provides SOLIS battery technology, which is an advanced lithium metal battery design, that improves energy density and reduces charging times. As of 2024, the firm operates in various locations such as Texas, Puerto Rico, and Chile.

The company plans to use the funding from October 2023 to promote the commercialization of its lithium technologies and large-scale testing with its market demonstration plant in Salta, Argentina. In addition, the firm plans for a lithium project in the Ark-La-Tex region in the US.

## Funding rounds

- Series B, Apr 11, 2023, $50M — General Motors Ventures, IMM Investment, Elohim Partners, POSCO Holdings, ENI S.p.A.
- Series A, May 3, 2021, $20M — Helios Capital, The University of Texas at Austin, Obsidian Capital (Pty) Ltd

## Investors

- Helios Capital (https://capitalatlas.ai/funds/helios-capital) — Series A
- The University of Texas at Austin — Series A
- Obsidian Capital (Pty) Ltd — Series A
- General Motors Ventures (https://capitalatlas.ai/funds/general-motors-ventures) — Series B
- IMM Investment (https://capitalatlas.ai/funds/imm-investment) — Series B
- Elohim Partners (https://capitalatlas.ai/funds/elohim-partners) — Series B
- POSCO Holdings — Series B
- ENI S.p.A. — Series B