Mangrove Lithium, a Delta, BC, Canada-based lithium conversion company, raised $35M in Strategic funding.
Backers included Mitsubishi Corporation, Asahi Kasei Corporation, InBC Investment Corp., Orion Industrial Ventures, Export Development Canada, Breakthrough Energy Ventures, BMW i Ventures, and BDC Capital.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Saad Dara, Mangrove Lithium developed patented electrochemical lithium refining technology for the conversion of lithium extracted from a variety of feedstocks into high-purity battery-grade lithium hydroxide and lithium carbonate. Its technology offers the potential for the lowest cost, highest purity lithium hydroxide and carbonate while reducing the carbon emissions associated with incumbent lithium refining technologies.
FinSMEs
28/01/2025