Pure Lithium, a Boston, MA-based lithium steel battery know-how firm, prolonged its Sequence A funding spherical.
Backers included Ivanhoe Capital and WS Funding Firm, the funding fund of Wilson Sonsini Goodrich & Rosati.
The quantity of the deal was not disclosed.
The corporate, which had introduced the $15m Sequence A funding in March 2024, intends to make use of the funds to increase operations and its improvement efforts.
Led by CEO Emilie Bodoin and Donald R. Sadoway, Pure Lithium is advancing Brine to Battery™ extraction know-how that improves the sources of lithium to create a battery-ready electrode in someday freed from extra lithium, cobalt, nickel, manganese, and graphite.
Commenting on the information, Robert Friedland, Chairman of Ivanhoe Capital, mentioned: “Pure Lithium is poised to revolutionize the vitality sector with groundbreaking battery and lithium extraction know-how that redefines sustainability and effectivity. Their battery is crafted from considerable lithium and eliminates the necessity for scarce assets like nickel, cobalt, and graphite. By elegantly combining lithium extraction with novel battery know-how, Pure Lithium delivers the very best performing lithium steel battery on the lowest value.”
FinSMEs
26/04/2024
