Lithios, a Boston, MA-based developer of electrochemical lithium extraction technology, raised $12M in funding.
A seed round was led by Clean Energy Ventures, with participation from strategic venture groups TechEnergy Ventures and GS Futures as well as Lowercarbon Capital and MassCEC. The company secured an additional $2M in venture debt from Silicon Valley Bank.
The company intends to use the funds to scale its R&D, manufacturing, and operations, and accelerate the development of commercial projects to produce thousands of tons of lithium carbonate annually.
Led by CEO Mo Alkhadra, Lithios is developing a scalable electrochemical lithium capture solution, Advanced Lithium Extraction, to efficiently extract lithium from untapped brine deposits where existing solutions cannot operate. Its ALE technology allows miners, operators, and the broader battery supply chain to unlock sources of lithium previously considered uneconomical and inaccessible due to difficult contaminant profiles and resource constraints.
FinSMEs
08/10/2024