The global battle for renewable energy resources is here, especially metals and battery materials. US startup EnergyX is leading the charge in revolutionizing the energy storage market with the development of sustainable lithium refining and battery technology.
Behind this clean energy powerhouse is an unlikely figure, 34-year-old founder and CEO Teague Egan. The serial entrepreneur, who quickly became an energy tycoon, has often been compared to Elon Musk. He was inspired to start the lithium company after a life-changing trip to South America in 2018. On the advice of a friend, Egan decided to backpack in the scenic Salar de Uyuni in Bolivia , the largest salt flat in the world at over 4,000 square miles.
While visiting the saltworks, Egan learned that this area, part of the “lithium triangle”, was also the largest lithium reserve in the world. As the first investor in Tesla, he had a firm belief that the world was moving towards electric vehicles, which meant massive amounts of lithium. What he didn’t know was that the technology to dramatically increase the supply of this key metal for batteries was not yet commercially available.
Who is Teague Egan?
A native of South Florida, Teague Egan found early success in the entertainment industry while attending the University of Southern California. After earning his undergraduate degree in business entrepreneurship, he started a record label out of his dorm room and his debut album quickly went to #1 on iTunes.
The son of early internet investor and entrepreneur Michael Egan, Teague credits his entrepreneurial spirit to early childhood conversations with his father. “When I was 12, dinner conversations were about balance sheets, EBITDA, and solving complex problems,” Egan says, “as well as the trials and tribulations of entrepreneurship.”
Fast forward to age 28, Michael told Teague to write down his 5 passions and the 5 industries he thought would be most important in the next 20-40 years. Now known as the 5&5 exercise, the energy transition was something that overlapped on Egan’s list. With a lot of passion, precise timing and a bit of luck, Egan found himself in the Saudi Arabia of lithium.
A moment of inspiration
Ultimately determining that the climate crisis was where Egan wanted to focus his time and energy, this trip to Bolivia was the moment of vision and inspiration that drove Egan to quit entertainment and go all out to solve the problems. of the lithium supply chain. In 4 years, EnergyX has catapulted itself into one of the leaders in direct lithium mining (DLE) and lithium refining, benefiting from partnerships with some of the largest lithium producers in the world.
The company won an international tender to deploy its pilot in Bolivia and successfully operated the first ever DLE technology pilot plant in the lithium triangle with a 94% recovery rate, before being disqualified for having delivered its final report 10 minutes late. There were rumors that external geopolitical factors involving Russia and China, the other competing entities, were at play.
Now with over $450 million in funding commitments, and already made up of an all-star team of PhDs, chemical engineers and clean energy veterans, EnergyX recently announced an exciting addition to its advisory board, the super-corporate A-List Endeavour, whose intrepid leader is none other than Ari Emanuel.
Full Loop with Ari Emanuel
During Egan’s early career in Hollywood, his label represented escape musician Sammy Adams who performed at shows across the country to sell out crowds. Coincidentally, Egan’s artists were represented by Endeavour’s William Morris Agency (WME), whose talent roster also includes musicians like Usher, Bruno Mars and Foo Fighters, actors Denzel Washington and Jessica Alba, stars of the sports such as Tom Brady and a host of other talents.
The Endeavor Group is also committed to “Endeavor Impact”, a company-wide commitment to fairness, democracy, inclusion and sustainability that is central to this notice. “It was literally 10 years after the label, and I got a call that said WME on my caller ID,” Egan explains. “When I picked up, it was Ari Emanuel himself asking about EnergyX and our New York Times front page cover story.”
With a mission focused on sustainability, the Endeavor team will help raise awareness and spark a strategic conversation around the future of energy. There’s no doubt that the company’s cultural footprints in the worlds of entertainment, sports and media could be key in bridging EnergyX’s vision and technology to help tackle the climate crisis and accelerate the global transition to renewable energy.
A new approach
Although lithium is the essential component of electric vehicle batteries, the mining of this metal has caused serious environmental and social problems over the years. Egan hopes to break this narrative by placing sustainability at the heart of technological innovations in lithium mining. Elon Musk recently commented in Tesla’s second quarter results that “refining lithium is like having a license to print money.”
Over the past year, the price of metal has skyrocketed from $10,000 to $80,000 per ton, influenced by demand from major automakers such as GM, Ford and Tesla, in addition to new government regulations. pushing for Net-Zero and Low Carbon initiatives.
From entertainment escapist to energy titan, Egan and his team are now revolutionizing the renewable energy industry. Through an unlikely partnership between Egan and Emanuel, they hope Endeavor Impact’s mission, A-list celebrities, and Endeavor’s savvy marketing and influence can help spread the important message of the fight against climate change.
Whether this duo can crack the code for sustainable lithium mining is at the center of critical questions about climate, energy and the future of technology. Learn more about Teague Egan and the future of lithium at EnergyX.
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