Lilac Solutions, a lithium extraction technology company, has raised $150 million in funding to expand its production of ion exchange beads. The Series B financing was led by funds and accounts consulted by Lowercarbon Capital and T. Rowe Price Associates.

This round also witnessed the participation of new investors Mercuria Energy Trading and Valor Equity Partners, as well as existing investors Breakthrough Energy Ventures and The Engine. Headquartered in Oakland, California, Lilac has developed a new ion exchange technology that helps increase the lithium production of brine resources. Recently, the company completed the first field test of the technology.

Lilac's lithium extraction technology is designed to allow brine to return to the ground after lithium is recovered to reduce its environmental impact. The company intends to use the proceeds to increase its production of ion exchange beads and deploy the technology globally. The funds will also be used to expand its team of engineers and field operators. Dave Snydacker, CEO of Lilac Solutions, said: “Electric vehicles are a low-carbon success story, but the lithium raw materials required for batteries have become a serious bottleneck. The lithium industry has been plagued by technical and environmental issues that have made energy transitions. was in danger."

"Lilac's technology solves these problems and will eventually enable lithium production to reach the scale required for the energy transition. We are very happy to establish this supply chain with the support of investors." As part of the partnership, Lilac will contribute technology, The engineering team and the on-site demonstration factory will acquire 25% of the shares in the Kachi project. After acquiring the shares of Kachi, the company expects to invest USD 50 million in the development of brine lithium projects.

Keywords: international engineering news, foreign engineering project information

Steve Promnitz, Lake’s managing director, said: “Lilac’s technology is truly disruptive because it uses a non-mining technology solution that reduces operating costs and increases the recovery of lithium from our brine. The process is modular production. High-purity lithium can be quickly upgraded to the commercial stage through the pilot phase-this equity guarantees the rapid commercialization of the clove technology at the Kachi base."Editor/Baohongying