GM's is leading a $50 million funding round for Texas startup EnergyX, which has a more efficient and sustainable method to extract lithium from brine.
EnergyX has developed tech that can extract lithium from brine much more efficiently than current methods.
Lithium is a critical component in batteries for electric vehicles. Under the deal, GM will also help develop EnergyX's technology and will have first right of refusal to buy lithium from any projects developed by the startup.EnergyX demonstrated its technology with a pilot plant in South America's "Lithium Triangle," an area of salt flats covering parts of Argentina, Bolivia and Chile that contains over half of the world's known lithium reserves.
EnergyX's pilot plant, which opened last year, has demonstrated that its technology can recover 90% or more of the lithium in brine, while using much less energy, water and land than existing processes.
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