Novalith Technologies, a Sydney, Australia-based lithium-extraction startup, received an investment from TDK Ventures, the CVC arm of TDK Corporation (TSE: 6762).
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Steven Vassiloudis, Novalith Technologies is a climate technology company that uses carbon dioxide to simplify lithium chemicals production. Its LiCALTMlithium-extraction technology uses less equipment, chemical reagents, water and energy than conventional processing, which reduces capital and production costs. The direct use and sequestration of CO2 in producing lithium chemicals also produces a much smaller emissions footprint than existing and alternative processes.
FinSMEs
18/04/2023