EnergyX Secures $2 Billion Lithium Supply Deal with Trafigura

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.

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.