Mangrove Lithium, a Delta, BC, Canada-based lithium conversion firm, raised $35M in Strategic funding.
Backers included Mitsubishi Company, Asahi Kasei Company, InBC Funding Corp., Orion Industrial Ventures, Export Growth Canada, Breakthrough Vitality Ventures, BMW i Ventures, and BDC Capital.
The corporate intends to make use of the funds to increase operations and its improvement efforts.
Led by CEO Saad Dara, Mangrove Lithium developed patented electrochemical lithium refining expertise for the conversion of lithium extracted from a wide range of feedstocks into high-purity battery-grade lithium hydroxide and lithium carbonate. Its expertise gives the potential for the bottom value, highest purity lithium hydroxide and carbonate whereas lowering the carbon emissions related to incumbent lithium refining applied sciences.
FinSMEs
28/01/2025
