GM leads a $50 million funding round for a lithium supplier based in the United States.

Energy Exploration Technologies Inc. (EnergyX) and General Motors announced today that GM Ventures is leading a $50 million Series B financing round in EnergyX and that the two companies have entered into a strategic agreement to develop EnergyX’s lithium extraction and refinery technologies. The agreement aims to increase the availability of lithium, a vital material for EV batteries, in North America by utilising EnergyX’s revolutionary approach to maximise efficiency while enhancing sustainability for GM’s fast scaling EV production.

EnergyX’s direct lithium extraction (DLE) technology portfolio can produce lithium metal directly from brine and potentially in anode-ready form for EV batteries, enabling more cost-effective and sustainable lithium recovery and unlocking a vast North American lithium supply chain that would otherwise be unviable.

GM is investing in every level of the North American battery supply chain, from raw materials to processing, cell components, and full battery cell manufacture.