GM’s funding arm GM Ventures is main a $50-million Sequence B financing spherical in Power Exploration Applied sciences (EnergyX) and can develop the corporate’s lithium extraction and refinery expertise. 

EnergyX’s direct lithium extraction (DLE) expertise could make lithium metallic instantly from brine, probably in anode-ready kind for EV batteries—enabling cost-effective and sustainable lithium restoration. This might assist create a lithium provide chain in North America that will in any other case be unviable, the corporate mentioned.

In 2022, EnergyX designed, constructed and commissioned an in-field pilot plant within the Lithium Triangle in South America, which encompasses over 65% of the world’s recognized international lithium reserves. The corporate says its LiTAS expertise will increase lithium restoration charges to over 90% from the present business customary of 30-40% utilizing ponds, and hit 94% throughout its area trials.

After a profitable five-month pilot program proving the efficacy of the LiTAS lithium refinery course of, EnergyX will scale these programs to extra sturdy market demonstration crops situated at 5 regional check beds in North and South America, adopted by full-scale commercialization.

This new spherical of financing, offered by GM and different buyers, will allow the corporate to broaden its analysis and improvement efforts for pure lithium metallic anodes and its solid-state lithium metallic battery program, SoLiS. The settlement with GM features a expertise improvement program and can give the carmaker entry to lithium provide from EnergyX for its EV manufacturing.

“The EnergyX staff of scientists and engineers have labored for 5 years, creating DLE expertise to resolve the bottlenecks which have restricted international lithium manufacturing and provide chain,” mentioned Teague Egan, CEO of EnergyX. “We intention to unlock lithium provide within the US, a pivotal transfer in increasing the EV business.”

Supply: GM