Pure Lithium, a Boston, MA-based lithium metal battery technology company, extended its Series A funding round.
Backers included Ivanhoe Capital and WS Investment Company, the investment fund of Wilson Sonsini Goodrich & Rosati.
The amount of the deal was not disclosed.
The company, which had announced the $15m Series A funding in March 2024, intends to use the funds to expand operations and its development efforts.
Led by CEO Emilie Bodoin and Donald R. Sadoway, Pure Lithium is advancing Brine to Battery™ extraction technology that improves the sources of lithium to create a battery-ready electrode in one day free of excess lithium, cobalt, nickel, manganese, and graphite.
Commenting on the news, Robert Friedland, Chairman of Ivanhoe Capital, said: “Pure Lithium is poised to revolutionize the energy sector with groundbreaking battery and lithium extraction technology that redefines sustainability and efficiency. Their battery is crafted from abundant lithium and eliminates the need for scarce resources like nickel, cobalt, and graphite. By elegantly combining lithium extraction with novel battery technology, Pure Lithium delivers the highest performing lithium metal battery at the lowest cost.”
FinSMEs
26/04/2024