Mangrove Lithium secured $35M in a funding round led by Mitsubishi Corporation to construct North America's first electrochemical lithium refining facility.

Jan 28, 2025•11 months ago

Amount Raised

$35 Million

DeltaRenewable EnergyEnergyManufacturing

Investors

Bdc CapitalBmw I VenturesBreakthrough Energy VenturesExport Development CanadaOrion Industrial VenturesIn Bc Investment Corp.Asahi Kasei CorporationMitsubishi Corporation

Description

Mangrove Lithium announced the closure of a $35M financing to begin construction of a groundbreaking lithium refining plant in Delta, British Columbia. The facility aims to produce battery-grade materials for approximately 25,000 electric vehicles each year.

Company Information

Company

Mangrove Lithium

Location

Delta, British Columbia, Canada

About

Mangrove Lithium is a technology company based out of Vancouver, Canada that has developed a 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. Mangrove’s 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. Mangrove is backed by some of the world’s most admired investors and companies, including Bill Gates’ Breakthrough Energy Ventures, BMW i Ventures, Mitsubishi Corporation, Asahi Kasei, the Business Development Bank of Canada, Export Development Canada, InBC Investment Corp., and Orion Resource Partners.

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