EnergyX Unveils Significant Lithium Project in Ark-La-Tex Region

Energy Exploration Technologies Inc. (EnergyX) has unveiled its latest venture, Project Lonestar Lithium, signaling a strategic move to bolster its foothold in the global energy transition while bolstering the US battery supply chain. This initiative marks the second significant lithium project for EnergyX, following its acquisition of 90,000 acres of lithium mining concessions in Chile in 2023, alongside the launch of Project Black Giant. Additionally, EnergyX secured a USD 5 million grant from the US Department of Energy in the same year, matched by a USD 5 million company investment, to establish a demonstration plant for lithium hydroxide production from geothermal brines in the United States, laying the groundwork for Project Lonestar Lithium.

Positioned in the "Ark-La-Tex" region, Project Lonestar Lithium aims for a Phase 1 lithium production target of 5,000 tons/year, scaling up to 25,000 tons/year in Phase 2. Notably, this ambitious endeavor surpasses the current production capacity of the largest active lithium plant in the US, underlining the vast potential for increased US lithium production. EnergyX's momentum towards commercialization received a significant boost with the closing of its Series B financing earlier in 2023, attracting strategic investments from institutional partners such as General Motors and POSCO, who hold priority access to portions of EnergyX's lithium production.

In a strategic alliance aimed at streamlining operations and enhancing productivity, EnergyX has forged a partnership with Kiewit, a renowned Engineering, Procurement, and Construction (EPC) firm, to pioneer the preliminary front-end engineering plans for Project Lonestar. This collaborative endeavor represents a concerted effort to bolster scalability and operational efficiency throughout EnergyX's suite of innovative LiTAS™ DLE lithium technologies. By leveraging Kiewit's extensive expertise in project management and execution, EnergyX aims to optimize the development process, ensuring timely delivery and cost-effective implementation of Project Lonestar. This collaboration not only underscores EnergyX's commitment to excellence but also reinforces its stature as a key player in the dynamic and ever-evolving energy sector. Through synergistic partnerships and a relentless pursuit of innovation, EnergyX is poised to navigate the complexities of the energy landscape while cementing its position as a trailblazer in sustainable energy solutions.

EnergyX CEO Teague Egan expressed optimism about Project Lonestar Lithium, emphasizing its significance in strengthening the US battery supply chain. He highlighted the importance of developing domestic resources to diminish dependence on foreign suppliers for critical elements like lithium. Egan acknowledged the collaborative efforts of government and project partners, underscoring their support in advancing the project. Despite recognizing the journey ahead, Egan conveyed enthusiasm as Project Lonestar progresses, indicating a pivotal step towards achieving self-reliance in the US energy sector.