Latest news with #EnergyX
Yahoo
11-07-2025
- Automotive
- Yahoo
GM-Backed EnergyX Expands Lithium Holdings in US Smackover Formation with Pantera Acquisition
General Motors Company (NYSE:GM) is one of the best manufacturing stocks to buy according to hedge funds. On July 9, EnergyX, which is a lithium technology startup backed by General Motors, announced the acquisition of 35,000 acres in the Smackover formation from Pantera Lithium. This deal increases EnergyX's holdings in the Smackover to ~47,500 acres. The Smackover is an underground geological formation spanning from Florida to Texas and is known for its rich lithium brine deposits. The acquisition is valued at A$40 million (~$26.1 million) and includes A$6 million in cash and roughly 2.3 million shares in EnergyX, valued at A$14.50 ($9.47) each. A group of technicians in a garage, inspecting car parts and ensuring safety compliance. Pantera, which is an Australia-based company that initially agreed to buy this acreage in 2023, will become a minority shareholder in EnergyX once the deal closes, which is expected later this year. The acquisition highlights the growing interest in boosting US lithium production, despite current low market prices. General Motors Company (NYSE:GM) designs, builds, and sells trucks, crossovers, cars, and automobile parts worldwide. While we acknowledge the potential of GM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Business Journals
11-07-2025
- Business
- Business Journals
EnergyX CFO Mayank Sharma helps bring in the big bucks
EnergyX aims to ramp up its lithium extraction efforts to provide more batteries for electric vehicles and has been able to establish a sizeable presence in Austin thanks to its CFO. This is part of ABJ's special report on the 2025 Best CFOs Awards, which shines the spotlight on money mavens in Austin and their secrets to success. Also, check out ABJ's list of private companies in Central Texas at the end of this report.
Yahoo
10-07-2025
- Business
- Yahoo
EnergyX to acquire Daytona Lithium in $26m deal
Energy Exploration Technologies (EnergyX) has signed a binding conditional agreement with Pantera Lithium to acquire its wholly owned subsidiary Daytona Lithium for A$40m ($26.1m). Daytona Lithium holds all interests of 35,000 acres of lithium mineral leases in the Smackover lithium brine project in the US state of Arkansas through its wholly owned subsidiary, Folsom Point Energy. EnergyX will acquire all issued shares of Daytona Lithium for A$6m in cash and A$34m in EnergyX common stock, priced at $9.50 per share, representing 2.3 million shares to be issued to Pantera. The deal will transfer full ownership of the Smackover project to EnergyX, adding to its 12,500-acre Texas position. With 50,000 acres under its control in the Smackover project, EnergyX is expected to accelerate its mission to establish a secure, sustainable US battery supply chain. EnergyX CEO Teague Egan stated: 'EnergyX is now poised to deliver a scaleable, sustainable lithium supply to major EV makers, battery cell manufacturers and cathode makers from our production facilities in the Americas. 'With 50,000 acres positioned adjacent to Exxon, Chevron and Standard Lithium in the Smackover, the race is on to see who will be the first to produce commercial battery-grade lithium.' This move is a strategic expansion from the company's Project Lonestar, which aims to produce 50,000 tonnes per annum (tpa) of lithium hydroxide by 2030. EnergyX's Project Lonestar, located in northeast Texas, is designed to commence with a first phase of 12,500tpa by 2028. The acquisition supports EnergyX's plans to vertically integrate its proprietary LiTAS direct lithium extraction (DLE) technology to produce low-cost lithium for its growing customer base. This technology will unlock unprecedented efficiencies with faster extraction, a higher recovery rate and reduced environmental impact. Pantera executive chairman Barnaby Egerton-Warburton stated: 'This is a game-changing transaction for Pantera. It confirms the significant potential of our Smackover project. 'EnergyX, backed by major global players like General Motors, POSCO and Eni, is a recognised leader in lithium extraction — bringing not only cutting-edge technology but also deep operational experience and a clear strategic vision that complements our own.' The transaction, subject to due diligence and Pantera shareholder approval, is expected to be completed in the third quarter of 2025. In July 2024, Pantera Minerals expanded its lithium brine project in Arkansas by an additional 3,728 acres - a 16.7% increase in its total acreage. "EnergyX to acquire Daytona Lithium in $26m deal" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
09-07-2025
- Business
- Reuters
GM-backed EnergyX buys lithium-rich acreage in US Smackover formation
July 9 (Reuters) - EnergyX, the lithium technology startup backed by General Motors (GM.N), opens new tab, has bought 35,000 acres in the Smackover formation from Pantera Lithium ( opens new tab, the latest deal for access to the U.S. brine formation teeming with supplies of the battery metal. The deal boosts the holdings of privately held EnergyX to roughly 47,500 acres in the Smackover, an underground geological formation stretching from Florida to Texas filled with lithium-rich brine. It also underscores the growing interest in boosting U.S. production of the metal despite low market prices. Chevron (CVX.N), opens new tab in recent weeks has bought Smackover acreage, joining Exxon Mobil (XOM.N), opens new tab, Albemarle (ALB.N), opens new tab, Standard Lithium (SLI.V), opens new tab and others with holdings in the region. Analysts estimate the Smackover could contain more than 4 million metric tons of lithium, enough to make millions of electric vehicles and other electronic devices. EnergyX's A$40 million ($26.1 million) agreement to buy the acreage in southern Arkansas from Australia-based Pantera includes A$6 million in cash as well as roughly 2.3 million shares in EnergyX that the companies are valuing at A$14.50 ($9.47) each. EnergyX, which is controlled by CEO Teague Egan, has discussed a public listing in the past. Pantera, which itself had first agreed to buy the acreage in 2023, will be a minority shareholder in EnergyX after the deal closes, expected later this year. Shares of Pantera more than doubled in Australian trading after the announcement. The deal "connects one of North America's most prospective lithium brine basins with EnergyX's advanced extraction tech and downstream ambitions," said Barnaby Egerton-Warburton, Pantera's executive chairman. EnergyX is also building a lithium refinery in nearby Texas that will process lithium from the Smackover brine. The company aims to be producing 12,500 metric tons of lithium per year by 2028 and 50,000 metric tons per year by 2030. GM, which led a $50 million financing round for the company in 2023, has the right of first refusal to buy lithium from any project that EnergyX develops. All of the companies aiming to extract lithium from the Smackover will need to use direct lithium extraction (DLE), something that has never been done before at commercial scale. EnergyX will also have to apply for a lithium royalty rate from Arkansas officials, who in recent weeks have approved rates for nearby lithium projects from Exxon and Standard Lithium. EnergyX tried unsuccessfully, opens new tab last year to buy Galan Lithium's ( opens new tab assets in Argentina. A consortium led by South Korean conglomerate Posco Holdings ( opens new tab is an EnergyX investor. EnergyX is also developing a lithium project in northern Chile. ($1 = 1.5328 Australian dollars)
Yahoo
09-07-2025
- Business
- Yahoo
GM-backed EnergyX buys lithium-rich acreage in US Smackover formation
(Reuters) -EnergyX, the lithium technology startup backed by General Motors, has bought 35,000 acres in the Smackover formation from Pantera Lithium, the latest deal for access to the U.S. brine formation teeming with supplies of the battery metal. The deal boosts the holdings of privately held EnergyX to roughly 47,500 acres in the Smackover, an underground geological formation stretching from Florida to Texas filled with lithium-rich brine. It also underscores the growing interest in boosting U.S. production of the metal despite low market prices. Chevron in recent weeks has bought Smackover acreage, joining Exxon Mobil, Albemarle, Standard Lithium and others with holdings in the region. Analysts estimate the Smackover could contain more than 4 million metric tons of lithium, enough to make millions of electric vehicles and other electronic devices. EnergyX's A$40 million ($26.1 million) agreement to buy the acreage in southern Arkansas from Australia-based Pantera includes A$6 million in cash as well as roughly 2.3 million shares in EnergyX that the companies are valuing at A$14.50 ($9.47) each. EnergyX, which is controlled by CEO Teague Egan, has discussed a public listing in the past. Pantera, which itself had first agreed to buy the acreage in 2023, will be a minority shareholder in EnergyX after the deal closes, expected later this year. EnergyX is also building a lithium refinery in nearby Texas that will process lithium from the Smackover brine. The company aims to be producing 12,500 metric tons of lithium per year by 2028 and 30,000 metric tons per year by 2030. GM, which led a $50 million financing round for the company in 2023, has the right of first refusal to buy lithium from any project that EnergyX develops. All of the companies aiming to extract lithium from the Smackover will need to use direct lithium extraction (DLE), something that has never been done before at commercial scale. EnergyX will also have to apply for a lithium royalty rate from Arkansas officials, who in recent weeks have approved rates for nearby lithium projects from Exxon and Standard Lithium. EnergyX tried unsuccessfully last year to buy Galan Lithium's assets in Argentina. A consortium led by South Korean conglomerate Posco Holdings is an EnergyX investor. EnergyX is also developing a lithium project in northern Chile. ($1 = 1.5328 Australian dollars) 登入存取你的投資組合
