This Texas startup is turning oil well waste into EV batteries
The Houston-based startup Element3 is commercializing technology to extract lithium from the mineral-rich wastewater produced during oil drilling in the Permian Basin, where roughly 26 million barrels of water are extracted daily alongside crude oil. The company, founded in 2021 and commercializing Department of Energy research from Oak Ridge National Laboratory, has raised over $20 million and is scaling production across Texas. The approach represents a circular economy model that transforms an energy sector waste stream into a critical raw material for EV battery manufacturing.
Key points
- Oil drilling in Permian Basin generates 26M barrels of mineral-rich wastewater daily
- Element3 extracts lithium from this wastewater for EV battery production
- Company has raised over $20M and is scaling production across Texas
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