EnergyX's first announced commercial offtake deal is a 10-year, 100,000 tonne agreement with one of the world's largest commodity traders worth approximately $2.0 billion at current lithium prices.
- EnergyX has signed a binding, definitive offtake agreement with Trafigura for 100,000 metric tons of battery-grade lithium products over a 10-year term.
- At current market prices, the agreement is worth more than $2.0 billion in revenue for EnergyX projects across lithium carbonate coming from Project Black Giant™ in Chile and lithium hydroxide coming from Project Lonestar™ in Texas.
- This is EnergyX's first publicly announced lithium offtake agreement turning years of technology validation and project development into long-term commercial sales with a globally recognized buyer.
- Trafigura will take 66% of Phase 1 offtake from Black Giant™ and 30% of Phase 1 from Lonestar™. EnergyX is in active discussions with additional prospective buyers to reach 80% offtake as it moves toward commercial-scale production in 2028.
- The agreement supports EnergyX's financing initiatives with offtake being a key requirement for the $690 million Letter of Intent from the U.S. EXIM Bank and additional project-finance lenders.
AUSTIN, Texas, Oct. 12, 2026 /PRNewswire/ -- Energy Exploration Technologies, Inc. (EnergyX), a leading energy technology company focused on advanced lithium production and critical mineral supply chain infrastructure, founded by Teague Egan in 2018, today announced that it has signed a binding, definitive lithium offtake agreement with Trafigura, one of the world's largest independent commodity trading companies. Under the take-or-pay agreement, Trafigura will purchase 100,000 metric tons of battery-grade lithium products from EnergyX over a 10-year term.
Based on current market prices of approximately $20,000 per metric ton, the agreement represents more than $2.0 billion in revenue for EnergyX over its term. It is EnergyX's first publicly announced offtake agreement and a defining commercial milestone for the company. The agreement covers lithium products from both of EnergyX's first two flagship projects with lithium carbonate supplied from Black Giant™ in Chile and lithium hydroxide from Project Lonestar™ in Texas. A significant share will be directed to the U.S. battery supply chain.
Trafigura's offtake agreement is a turning point for EnergyX. The company has proven its technology in the lab, at pilot scale, and now at the company's demonstration plants in both its U.S. and Chile projects, each of which is the largest DLE plant in its respective country. The agreement builds on EnergyX's recent financing momentum, including Eni's $225 million strategic investment in Project Black Giant™ in Chile and a $690 million Letter of Intent from the U.S. EXIM Bank to provide debt financing for the project.
"Offtake agreements are among the most important steps in taking a lithium project from development to production," said Teague Egan, Founder and CEO of EnergyX. "A long-term purchase commitment from a counterparty of Trafigura's scale and credit quality shows that the market wants EnergyX's product. It also gives lenders and investors the revenue visibility they need before committing capital to commercial construction."
EnergyX's production will be powered by its proprietary GET-Lit™ direct lithium extraction (DLE) and refining technology platform, which is covered by more than 150 patents. EnergyX commissioned Project Lonestar™, the largest DLE lithium production plant in the United States, in Texas in April 2026. The company is advancing commercial-scale projects across North and South America, including the 52,500 tpa Project Black Giant™ in Chile and its Smackover operations in Texas and Arkansas.
Daniel von Arx, Head of Battery Metals at Trafigura, said, "We are pleased to support EnergyX as it develops its lithium projects in Chile and the US. Long-term offtake is an important step in moving projects into production, and this agreement reflects our ability to help bring strategic critical minerals projects online and build secure, diversified supply chains. Drawing on our logistics network and market expertise, we look forward to supplying these battery-grade lithium products to customers, supporting supply chains for the US automotive and energy storage industries."
EnergyX continues to advance discussions with additional prospective offtake partners across the battery, automotive, and energy storage markets. As global lithium demand accelerates, the company is well positioned to deliver a reliable, geopolitically aligned supply of lithium for the energy transition, advanced manufacturing, and national defense priorities.
About EnergyX
EnergyX is a sustainable energy technology company transforming critical mineral production and technology for the battery and nuclear material supply chains. The company is developing lithium projects across North and South America, as well as its GET-Lit™ direct lithium extraction (DLE) technology platform and NUKE-it™ nuclear technology platform. Founded in 2018 by CEO Teague Egan, EnergyX is incorporated out of Puerto Rico, and currently has offices and commercial facilities in Austin, Texas, and operations throughout Chile in the South American Lithium Triangle. Learn more at energyx.com.
About Trafigura
Trafigura provides critical resources to the world. Founded over 30 years ago and owned by its employees, the Group uses its deep understanding of commodity markets and its infrastructure, logistics and financing expertise to make global supply chains more efficient, secure and sustainable. Trafigura supplies oil and petroleum products, metals and minerals, and gas and power, while investing in lower-carbon solutions for the future. The Group employs approximately 14,500 people and operates in over 150 countries.
Media Contact
EnergyX Communications
Kellee Khalil, Chief Marketing Officer
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Forward-Looking Statements
This press release contains forward-looking statements about future commercial relationships, supply and delivery volumes, anticipated revenue, project development timelines, financing, and market opportunities. Revenue figures are illustrative estimates based on current market prices for lithium carbonate and lithium hydroxide, and actual revenue will vary with market prices and delivered volumes. Deliveries under the agreement are subject to customary conditions, including product qualification and facility commissioning. These statements are subject to risks and uncertainties, and actual results may differ materially from those projected.
SOURCE EnergyX
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