Under the take-or-pay agreement, Trafigura will purchase 100 000 t of battery-grade lithium products from EnergyX over a 10 year term.
Based on current market prices of approximately US$20 000/t, the agreement represents more than US$2 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 US 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 US 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 US$225 million strategic investment in Project Black Giant in Chile and a US$690 million Letter of Intent from the US 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 US, in Texas in April 2026. The company is advancing commercial-scale projects across North and South America, including the 52 500 tpy 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 defence priorities.
