MaverickX

About MaverickX

MaverickX is a chemical technology company that develops solutions for natural resource extraction, catering to the mining and energy sectors. The company was founded in 2022 by Jesse Evans, who serves as CEO, and Eric Herrera, a former Department of Defense scientist. The two met at university and shared an interest in applying innovation to heavy industry.

MaverickX operates as a novel chemical supplier, providing advanced lixiviants and enzymes to mining and energy companies to enhance resource recovery from lower-grade materials. The firm's business model involves testing its proprietary chemistries on materials sent by clients and then supplying the effective solutions. The company participated in the Y Combinator accelerator program, which provided initial funding of $500,000. Subsequently, MaverickX raised a $10 million seed round and is preparing for a Series A funding round.

The company's product portfolio includes PetroX and LithX. LithX is a next-generation lixiviant designed to extract copper, gold, and other critical metals from a variety of sources, including low-grade ores, complex mineral systems, and legacy stockpiles. This technology operates at ambient temperatures without requiring high-pressure systems or added acid, and it can be integrated into conventional mining flowsheets without significant capital expenditure. Another product, a synthetic enzyme, is designed to solubilize hard rock ores at low temperatures to extract metals like lithium with high recovery rates and minimal energy use. In the energy sector, the company works to improve the efficiency of the oil and gas industry and has developed methods to transform old oil wells into sites for metal extraction by breaking down rock formations to access trapped metals.