EnergyX, a lithium technology startup invested in by General Motors, recently acquired 35,000 acres of land in the Smackover Formation in the US from Pantera Lithium, increasing its total holding area in this lithium-rich region to approximately 47,500 acres. The region spans from Florida to Texas and is estimated to have lithium reserves exceeding 4 million mt, capable of meeting the demand for millions of EVs. The transaction was valued at AUD 40 million (approximately USD 26.1 million), including AUD 6 million in cash and 2.3 million shares of EnergyX stock (valued at AUD 14.5 per share). Upon completion of the transaction, Australia's Pantera will become a minority shareholder of EnergyX. EnergyX is also constructing a lithium refinery in Texas, with plans to achieve an annual production capacity of 12,500 mt by 2028 and expand it to 30,000 mt by 2030.