Lithium extraction company EnergyX recently raised $50 million in their Series B round, led by GM Ventures.
To make the energy transition a reality, we’re going to need A LOT of lithium. For starters, lithium is one of the main components in batteries for electric vehicles. But current mining methods are unsustainable, oftentimes even harmful.
That’s where EnergyX steps in. The new funding will be used to unlock North America’s lithium supply using the startup’s novel extraction technology, maximizing efficiency and sustainability. This will allow GM to really scale up EV production in the coming years.
This exciting new partnership will surely bring great things for the future of electric vehicles, and the energy transition overall!