Energy Exploration Technologies Inc. has secured commitments of $20 million in financing, making it the highest-valued direct lithium extraction technology company on the market.
EnergyX said it is focused on delivering the latest scientific innovations in sustainable lithium extraction methods and solid-state battery energy storage systems.
Lithium, a metallic component integral to the batteries found within electric vehicles and personal electronics, is set to be a major component in the global transition to a sustainable energy future, according to EnergyX. Rising global demand for electric vehicles and economic energy storage systems has led to projections showing an orders-of-magnitude increase in demand for lithium. In 2020, global supply was roughly 315,000 tons, a number that is expected to increase to 5.5 million tons by 2040.
“EnergyX has been diligently working towards creating a cleaner lithium space in conjunction with other global leaders,” sai
