# MaverickX

**Source:** https://geo.sig.ai/brands/maverickx  
**Vertical:** Manufacturing  
**Subcategory:** General  
**Tier:** Emerging  
**Website:** maverickmetals.com  
**Last Updated:** 2026-04-14

## Summary

Chemical tech company with PetroX for shale oil recovery enhancement and LithX for low-grade lithium extraction; $19M Series A from Olive Tree serving major operators under contract.

## Company Overview

MaverickX is a chemical technology company engineering advanced solutions for resource extraction from challenging feedstocks — developing PetroX, a chemical formulation that enhances oil recovery from shale reservoirs beyond what standard drilling and fracking achieves, and LithX, a technology for extracting lithium and other critical minerals from low-grade ores that traditional mining methods cannot economically process. Founded in 2022 by Jesse Evans and Eric Herrera in San Antonio, Texas, MaverickX raised $19 million in April 2025 led by Olive Tree Capital and Y Combinator with a 20-person team serving multiple major oil and gas operators under contract.\n\nMaverickX's PetroX technology targets the significant oil left behind after standard shale well completion — enhanced oil recovery (EOR) from existing wells can meaningfully increase total field production without drilling additional wells, making it economically attractive to operators already managing well infrastructure. LithX addresses the critical mineral supply challenge: most known lithium deposits are low-grade (not economically viable with conventional hydrometallurgical processing), but if MaverickX's chemistry can economically extract lithium from these deposits, it significantly expands the viable lithium supply chain needed for battery manufacturing.\n\nIn 2025, MaverickX operates at the intersection of oil and gas enhancement and critical minerals supply chain — two significant markets that chemical innovation can address. In EOR, MaverickX competes with established chemical EOR providers including Kemira and Stepan Company for enhanced recovery treatments. In critical minerals, LithX competes with direct lithium extraction (DLE) technologies from Lilac Solutions, Standard Lithium, and others for novel extraction methods. The $19 million Series A validates both technology directions, with the oil and gas revenue contracts providing near-term commercial validation while the lithium extraction technology develops. The 2025 strategy focuses on scaling PetroX deployments with current operator contracts, advancing LithX toward commercial pilot scale, and positioning for the energy transition value story that connects fossil fuel enhancement with critical minerals for clean energy.

## Frequently Asked Questions

### What is MaverickX?
MaverickX is a San Antonio-based chemical technology company founded in 2022 that engineers innovative chemical solutions for natural resource extraction. The company develops products like PetroX for oil recovery from shale reservoirs and LithX for extracting metals from low-grade ores.

### What products and services does MaverickX offer?
MaverickX offers chemical extraction technologies including PetroX, which enhances oil recovery from shale reservoirs, and LithX, which extracts metals from low-grade ores. The company provides enhanced recovery solutions for both petroleum and critical metals supply chains.

### Who are MaverickX's target customers?
MaverickX targets the oil & gas and mining sectors, specifically major operators in these industries. The company has already secured contracts with multiple major operators for its PetroX product line.

### When was MaverickX founded?
MaverickX was founded in 2022. The company participated in Y Combinator's W22 batch.

### Where is MaverickX located?
MaverickX is based in San Antonio, Texas.

### What funding has MaverickX raised?
MaverickX raised $19M in equity funding in April 2025, led by Olive Tree Capital. Other participating investors include Y Combinator, Hanwha Group, Liquid 2 Ventures, Nomadic Venture Partners, Soma Capital, and TechNexus Venture Collaborative.

### Who founded MaverickX?
MaverickX was founded by Jesse Evans, a former startup operations manager, and Eric Herrera, a former Department of Defense scientist.

### What is MaverickX's approach to natural resource extraction?
MaverickX advances natural resource extraction through chemical innovation, developing specialized solutions that enhance recovery from challenging sources. Their technology addresses both shale oil reservoirs and low-grade metal ores that are difficult to extract using conventional methods.

### How large is MaverickX's team?
MaverickX has a 20-person team.

### What are MaverickX's recent developments?
In April 2025, MaverickX raised $19M in funding and launched its PetroX product line with multiple major operators under contract. The company is accelerating the commercialization of its LithX metals extraction technology.

## Tags

b2b, hardware, manufacturing, energy, startup

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*