• Energy Exploration Technologies entered a memorandum of understanding with Compass Minerals to develop a planned 30,000-tons-a-year direct lithium extraction and refinery facility near the Great Salt Lake in Utah.
• The project, dubbed Project Powder Hound, would be built on Compass-owned land, with EnergyX leasing the site and paying a lithium production license fee while Compass assigns existing lithium infrastructure and avoids capital spending.
• EnergyX plans to fund, build, and operate the facility, targeting about USD 400 million of investment across two phases, starting with up to 10,000 tons a year from existing ponds and scaling by about 20,000 tons a year from upstream brine concentration ponds.
• The Ogden site has an identified resource of up to 2.4 million metric tons of lithium carbonate equivalent.
• Definitive agreements are expected in coming months, subject to due diligence and State of Utah regulatory approvals.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Energy Exploration Technologies Inc. published the original content used to generate this news brief on May 18, 2026, and is solely responsible for the information contained therein.