EnergyX, a leading innovator in the lithium and battery industry, has announced a major expansion in Austin, Texas. The company has surpassed 100 employees worldwide, with a significant portion based in the United States. This growth comes on the heels of a successful $50 million fundraising round, demonstrating the company’s rapid progress and commitment to developing sustainable lithium extraction technology and next-generation solid-state battery technology.
Founded just six years ago by entrepreneur Teague Egan, EnergyX has rapidly gained attention for its innovative approach to lithium extraction. The company’s proprietary Direct Lithium Extraction (DLE) technology, known as LiTAS™, has revolutionized the industry by enabling a more efficient and environmentally friendly process. This technology has enabled EnergyX to complete an end-to-end extraction and refinery process, producing high-quality battery-grade lithium materials.
In a strategic move, EnergyX began acquiring its own lithium mines in 2023, following successful pilot plant trials in North and South America. This acquisition strategy positions the company as a major player in the rapidly expanding lithium industry, projected to reach $134 billion by 2035. EnergyX’s technology boasts impressive results, achieving a 90%+ extraction rate, compared to the traditional 30% to 40% yield from conventional methods. This breakthrough technology has garnered significant interest and investment, attracting support from major investors including General Motors, Eni, and POSCO. The company has raised over $110 million in total investments.
With two Tier 1 projects underway, Black Giant in Chile and Project Lonestar in the U.S., EnergyX is poised for continued growth and expansion. These projects are estimated to produce 40,000 tons and 25,000 tons of lithium per year, respectively, and will create hundreds of new jobs. To accommodate this expansion, EnergyX is opening a new 40,000 square foot mixed-use facility in Austin. This facility will house the company’s innovation lab, global operations controls, DLE production, and warehouse.
EnergyX CEO Teague Egan expressed excitement about the company’s growth, stating, “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, often dubbed “Silicon Hills,” has become a thriving innovation hub in the heart of the United States. With its strategic location and growing tech sector, Austin has attracted companies like Elon Musk’s Tesla, which recently confirmed the relocation of its X and SpaceX headquarters, along with Oracle, Meta, Apple, Google, and others. This dynamic ecosystem provides a perfect backdrop for EnergyX’s continued growth and development.
As EnergyX continues to expand in this vibrant environment, the company remains committed to its long-term goal: driving the clean energy revolution by providing advanced solutions to the battery and lithium supply chain, creating jobs, and contributing to the economic growth of Texas’ tech-driven economy.
