EnergyX raises $50M Series B

 

Energy Exploration Technology, a Texas-based company known as EnergyX, raised a $50M Series B to fund research and development for lithium metal anodes and solid-state lithium metal batteries.   The round was led by General Motors' venture arm. The automaker will receive first rights to purchase the lithium products as part of the strategic investment. EnergyX is running a pilot mineral extraction program in the area known as Lithium Triangle, at the border regions of Argentina, Bolivia, and Chile. The plant is able to recover 90% or more of the material in brine by pumping water underground to flush out lithium.