EnergyX raises $20 million for lithium extraction tech

Energy Exploration Technologies (EnergyX) said today that it secured commitments of $20 million in financing.

Funds will be used to advance the company direct lithium extraction technology. EnergyX said that the funds were raised earlier this year.

“EnergyX has always strived to become a leading figure in the global transition towards renewable energy. As the world forms a united effort towards sustainable development, EnergyX, along with its new partners and strategic investors including Obsidian Acquisition Partners, Helios Capital, and the University of Texas, hope to build a strong platform that binds together industry, academia, and natural resource management,” wrote the company in a news release.

Last year EnergyX signed a letter of intent with Orocobre to implement direct lithium technology.