EnergyX's Big Bet: Lithium, Land, and a U.S. Refinery

EnergyX expands in Smackover to build a Texas refinery, aiming to power US EV growth and challenge China's dominance by 2030

11 Jul 2025

America's race to secure its clean energy supply just picked up speed. EnergyX has snapped up 35,000 acres in the lithium-rich Smackover formation for $26 million, a move designed to anchor a fully domestic supply chain. The July deal with Pantera Lithium brings the company's holdings to nearly 47,500 acres and paves the way for a planned refinery at TexAmericas Center near Texarkana. Analysts say the project could give the US a foothold against China and South America in the battery materials game.

EnergyX plans to open the refinery by 2028, producing 12,500 tons of lithium annually before ramping up to 50,000 tons by 2030. Automakers see the stakes clearly: lithium powers the batteries at the heart of electric vehicles. General Motors, already an investor in EnergyX with rights to future supply, is betting the project will help anchor its EV strategy. By locking down both land and refining, EnergyX is positioning itself as a cornerstone in America's resource future.

The Smackover basin, stretching across Arkansas, Texas, and Louisiana, has long been an oil and gas hub. Now it is drawing interest from ExxonMobil, Chevron, and others chasing critical minerals. "Owning the resource and the refining process is the next leap for US lithium," said EnergyX CEO Teague Egan, calling the deal a step toward energy independence.

Challenges loom. Direct lithium extraction technology has yet to prove itself at commercial scale, and the regulatory and financial hurdles are steep. Still, with electric vehicle demand climbing and Washington pushing for local sourcing, EnergyX sees the moment as ripe.

If successful, the Smackover project could deliver reliable lithium to US automakers while offering a blueprint for rebuilding the supply chain from the ground up. For an industry trying to balance growth with security, the signal is clear: America wants to mine and refine at home.