Posco Holdings is investing in lithium technology specialist EnergyX to find more efficient ways of producing the battery metal for the transition to green energy.
Lithium Quest for Green Energy
The drive to electrify the global economy has fueled the search for stable supplies of lithium and other essential minerals, and drawn attention to the unproven direct lithium extraction (DLE) technologies being developed by EnergyX and its peers. If successful, these technologies could enable battery metal to be produced faster and more cheaply than traditional evaporation ponds from brine deposits found all over the world, including in northern Argentina where Posco is developing the Sal de Oro lithium project.
A Key Investment in Green Energy
Under the agreement, South Korea’s Elohim Partners and IMM Investment Global will invest in EnergyX’s $50 million Series B financing round. Posco, which invests through these funds, will work with EnergyX to help its technology reach commercial production, the companies said.
A More Sustainable Vision of the Future
“In a world where lithium is of the utmost importance, we expect EnergyX to thrive in the lithium mining market,” said Jaeho Rhee, CEO of Elohim. The companies declined to specify the amount of EnergyX Series B financed by the consortium. Posco will, however, have the right to invest in other lithium projects developed by EnergyX, in proportion to the size of its investment in the private startup.
A Cleaner, More Environmentally Friendly Future
Ultimately, this collaboration between Posco Holdings and EnergyX reflects the growing trend to invest in cutting-edge technologies to meet the growing needs of the energy transition. The search for innovative solutions to produce lithium more efficiently is crucial to the future of green energy.
This collaboration is helping to accelerate the transition to green energy by making lithium production more efficient, which is essential to meet the growing demand for batteries for electric vehicles and energy storage systems. By investing in cutting-edge technologies, Posco Holdings and EnergyX are committed to shaping a more sustainable future and strengthening Argentina’s position as a major lithium producer. This development has major financial implications and demonstrates how technological innovation can help combat climate change.
