Netcapital Success Story EnergyX Receives $450 Million Private Equity Commitment in Support of Future IPO Plans

EnergyX raised $4.5 million in growth capital on Netcapital Funding Portal

Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced that lithium startup EnergyX, which completed two rounds of financing from 2020 to 2021 through the Netcapital Funding Portal, has received a $450 million investment commitment from private equity firm Global Emerging Markets Group (GEM) in conjunction with its plans to go public by 2024.

Jason Frishman, CEO of Netcapital Funding Portal Inc., commented, “EnergyX is a multiple-funding success story powered by thousands of investors on our netcapital.com portal. Approximately $4.5 million was raised in two separate offerings in support of ongoing development for EnergyX’s innovative lithium extraction technology. In our view, the substantial private equity commitment announced by GEM represents a significant endorsement of EnergyX’s potential, which was already well recognized by Netcapital’s smart and discerning investor roster.”

Founded in 2017, EnergyX is a developer of next generation battery technology and direct lithium extraction technology to help enable the global transition to renewable energy.

Netcapital.com hosts an SEC-registered funding portal that enables private companies to raise capital online, while investors are able to invest from almost anywhere in the world, at any time, with just a few clicks. Securities offerings on the portal are accessible through individual offering pages, where companies include product or service details, market size, competitive advantages, and financial documents. Companies can accept investment from virtually anyone, including friends, family, customers, and employees.

About Netcapital Inc.

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.

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