The agreement secures a major customer for EnergyX’s flagship initiatives: Project Black Giant™ in Chile and Project Lonestar™ in Texas. Under the take-or-pay terms, Trafigura will acquire 66% of the phase-one output from the Chilean facility and 30% from the Texas site. This partnership provides the revenue visibility necessary to unlock further project financing, including a $690 million Letter of Intent from the U.S. EXIM Bank.
In section Releases
EnergyX Secures $2 Billion Lithium Supply Deal with Trafigura
EnergyX has locked in a binding 10-year offtake agreement with global commodity trader Trafigura, marking the Texas-based firm's transition from technology developer to commercial supplier. The deal covers 100,000 metric tons of battery-grade lithium, valued at approximately $2 billion based on current market valuations.
Founder and CEO Teague Egan noted that securing a counterparty of Trafigura’s scale validates the company's proprietary GET-Lit™ direct lithium extraction technology. While this contract covers a significant portion of planned production, EnergyX remains in negotiations with other buyers to reach an 80% offtake target ahead of the planned 2028 commercial-scale production launch. Daniel von Arx, Trafigura’s head of battery metals, stated the deal strengthens domestic supply chains for the U.S. automotive and energy storage sectors.
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