GM-Backed EnergyX to Invest $400M in Direct Lithium Extraction at Great Salt Lake
GM-backed EnergyX plans to invest over $400 million in a memorandum of understanding with Compass Minerals to deploy its direct lithium extraction technology at Utah’s Great Salt Lake. The site holds an estimated 2.4 million metric tons of lithium, positioning GM to expand domestic EV battery metal supply.
1. Partnership and Investment
GM-backed EnergyX and Compass Minerals have signed a memorandum of understanding under which EnergyX will invest more than $400 million to deploy its direct lithium extraction (DLE) technology at the Great Salt Lake. The agreement outlines project phases, funding commitments and technology deployment timelines, pending finalization of definitive contracts.
2. Lithium Resource and Supply Implications
The Great Salt Lake is estimated to contain over 2.4 million metric tons of lithium, one of the largest U.S. deposits. Successful DLE deployment could secure a domestic source of battery-grade lithium for GM’s electric vehicle assembly plants, reducing reliance on overseas suppliers and enhancing supply chain resilience.