Element3 just raised a fresh round of funding to launch the first US commercial lithium extraction plants, and it’s sourcing the lithium from oil and gas wastewater in Texas. That’s a big deal because it means there will be a domestic lithium supply for EVs and battery storage within a few months.

The critical materials extraction company announced the close of its Series A funding round led by TO VC. Fort Worth, Texas-based Element3 will use the money to deploy its first extraction plants on oil and gas company Double Eagle Energy Holding’s water infrastructure in the Permian Basin by the end of 2025. That means Element3 will become the first new lithium extraction player in the US to reach commercialization, with its first commercial shipments expected by year-end.

Element3’s breakthrough technology pulls battery-grade lithium from the Permian Basin’s produced water, turning a waste stream from oil and gas drilling into a valuable domestic resource. With a lithium carbonate plant already installed in the region, the company says its vertically integrated setup is ready to supply lithium for the US energy transition.

“This funding accelerates our mission to build American lithium independence from the ground up,” said Hood Whitson, Element3’s founder and CEO. “While other US projects are still in planning and years away from production, we’re bringing our plants online now and shipping product this year. Using existing oilfield infrastructure, we can move faster, cleaner, and at a fraction of the cost.”

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The US oil and gas industry produces over 1 trillion gallons of wastewater annually, containing an estimated 250,000 tons of lithium carbonate – more than half the country’s projected supply gap by 2030. By tapping into that wastewater, Element3 avoids many challenges that delay conventional lithium mining, such as lengthy permitting, land disruption, and high carbon emissions. Instead, it uses existing infrastructure, turning waste into a new, low-carbon supply stream.

Recovering lithium from wastewater is significantly more environmentally friendly than conventional mining. It doesn’t require digging new pits, evaporating vast ponds, or consuming large amounts of fresh water. It also eliminates the need to transport raw materials internationally, helping reduce emissions tied to global supply chains.

“So much capital has gone into onshoring battery manufacturing, but far less into securing the upstream supply of lithium itself,” said Joshua Phitoussi, managing partner at TO VC. “Traditional mining takes billions and more than a decade to bring online. Element3’s approach is faster, cheaper, and uses an already abundant resource. This means that Element3 will be the first [direct lithium extraction] company to get to commercial scale, and could become a top three domestic lithium producer within the next three years.”

Read more: A $1.2B battery-grade lithium refinery breaks ground in Oklahoma

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The US Department of Energy (DOE) announced it will spend $625 million to “expand and reinvigorate” the US coal industry, claiming it will boost energy production and help rural communities. Energy Secretary Chris Wright praised “beautiful, clean coal” as “essential to powering America’s reindustrialization and winning the AI race.”

The Trump administration argues this spending will keep aging coal plants running, lower electricity costs, and prevent blackouts. But this so-called coal revival plan wastes millions when clean energy is cheaper and growing at a breakneck pace.

What the $625 million will fund

According to the DOE press release, the funds will prop up coal-fired power plants through several programs:

• $350 million to restart or upgrade old coal plants, improving their capacity and reliability.
• $175 million for projects bringing power to rural areas, aiming to deliver cheaper, more reliable coal-fired electricity.
• $50 million to upgrade coal plant wastewater systems, reducing water pollution and extending plant life.
• $25 million for “dual-firing” retrofits, so plants can switch between coal and other fuels like natural gas.
• $25 million to develop 100% natural gas co-firing, keeping boilers running efficiently if a plant uses gas instead of coal.

Wright claims these DOE coal investments will “keep electricity prices low and the lights on without interruption.” He also touted coal as the “backbone” of industries like steel and cement, insisting it’s “necessary to feed the AI boom.” In short, the administration is betting that propping up coal now will secure US energy supply for factories and data centers.

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Interior Secretary Doug Burgum also said at a press conference in Washington that 13.1 million acres of federal land will be opened up in Montana, North Dakota, and Wyoming for coal leasing.

‘This is a colossal waste of money’

Environmental experts and clean energy advocates blasted the DOE’s coal plan as wasteful, polluting, and economically foolish. “The Trump administration is hell-bent on supporting one of the oldest, dirtiest electricity sources. It’s handing our hard-earned tax dollars over to the owners of plants that cost more to run than new, clean energy, while giving those plants a free pass to keep polluting,” said Amanda Levin, policy analyst at NRDC. “Propping up coal means dirtier air and water, destruction of public lands, and higher utility bills for struggling families… This is a colossal waste of money at a time when the federal government should be spurring on new energy sources that can power the AI boom and help bring down utility bills.”

Levin’s frustration is echoed by others. The Sierra Club warned that continuing to subsidize coal will lead to “skyrocketing bills,” worse health outcomes, and a “decaying environment.” The Environmental Defense Fund noted that modern clean energy like solar, wind, and battery storage is now cheaper and faster to deploy – the real solution for powering a high-tech economy affordably. Critics argue that pouring more money into coal props up “dirty, uncompetitive plants from the last century” instead of investing in 21st-century energy.

Coal’s decline vs. clean energy’s rise

The backlash is fueled by coal’s sharp decline in the US power mix. Coal generated only about 15% of US electricity in 2024, down from 50% in 2000, according to the US Energy Information Administration (EIA), as cheap natural gas and booming solar and wind power have eaten away coal’s market share. No new US coal plants are planned, and dozens of aging coal plants are slated for retirement in the next few years due to high costs and old age. In fact, wind and solar produced more electricity than coal in the US last year for the first time ever, and the EIA reported last week that wind and solar combined provided 19% more electricity than did coal during the first seven months of 2025.

Against that backdrop, pouring hundreds of millions into coal flies in the face of market trends and climate urgency. Analysts are skeptical that the DOE’s coal push will change coal’s long-term outlook, calling it at best a short-term boost for a “zombie” industry that can’t compete in the long run.

Electrek’s Take

Spending $625 million to revive coal – the dirtiest, most carbon-heavy energy source – is a ridiculous move when clean energy is cleaner and cheaper. It’s an especially hypocritical move given that just last week, Wright canceled $13 billion of funding for renewable energy projects and dismissed renewables’ need for federal subsidies at a press conference, saying:

If you can’t rock on your own after 33 years, maybe that’s not a business that’s going places.

Guess it slipped Wright’s mind that US fossil fuels already receive about $760 billion a year in federal subsidies, according to the International Monetary Fund, after nearly two centuries of government support. And just days later, he’s handing hundreds of millions more in taxpayer dollars to a dying coal industry that isn’t “rocking on its own.”

This hefty taxpayer-funded handout is highly unlikely to reverse coal’s decades-long decline, but it could slow cleaner investments and keep polluting plants on life support. At a time when the government “should be spurring new energy sources to power the AI boom,” funneling money into dirty 19th-century fuel is an embarrassing, damaging throwback.

Read more: The oil shill running the Energy Dept. just banned the words ‘climate change’

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A few years ago, it was basically a Tesla, Nissan Leaf, or Chevy Bolt if you were looking for a used electric vehicle. Nowadays, you can buy used Toyota, Ford, Hyundai, Chevy, or Honda EVs for about the same, or even less than, gas-powered cars.

Is now the time to buy used EVs?

Used EVs are now the fastest-selling cars in the US. A record 40,960 used electric vehicles were sold in the US in August, according to Cox Automotive, up 59% from the same month in 2024.

Despite also hitting a new record in August with 146,332 units sold, new EV sales increased by only 17.7% compared to last year.

With the federal tax credit of $7,500 for new and $4,000 for used EVs set to expire on September 30, buyers are rushing to lock in the savings.

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So, why are used EVs flying off the lot compared to new models? For one, there are so many more options to choose from. Used electric vehicles from Ford, Volkswagen, BMW, Toyota, and Honda are starting to appear at dealerships across the US.

In 2022, a flood of new options, like the Ford F-150 Lightning, Toyota bZ4X, Cadillac Lyriq, and BMW i4, launched in the US. Since many buyers opt for a three-year lease, these same EVs are now hitting the used market.

Perhaps, even more importantly, the price is comparable to that of a similar gas-powered car, but it typically offers significantly more.

The price premium over used ICE vehicles is now just $897, the lowest on record. In fact, 14 makes had a lower average EV price than their gas-powered counterpart.

The top five selling used EVs, the Tesla Model 3, Tesla Model Y, Chevy Bolt EV, Tesla Model S, and Ford Mustang Mach-E, were all priced below the market average. Tesla’s Model 3 led used EV sales with an average price of $23,278, while the Nissan LEAF ($12,890) and Chevy Bolt ($14,705) remained the most affordable.

Cox Automotive expects another strong month for both used and new EV sales, with the IRA tax credit expiring at the end of September. How automakers react with price changes and incentives will impact sales through the end of 2025.

Since electric vehicles have fewer moving parts, require little maintenance, and offer more advanced software, safety, and connectivity technology, the new wave of used models may be your best bet for an affordable EV.

With models like the Honda Prologue, Hyundai IONIQ 5, and Chevy Equinox EV leading the way in new EV sales, more used EVs are already starting to hit the market. The top six selling new EVs in August were the Tesla Model Y, Model 3, Honda Prologue, Chevy Equinox EV, Hyundai IONIQ 5, and Ford Mustang Mach-E.

There are still two days left to grab the EV savings. If you’re curious, you can use the links below to see what’s available in your area.