BusinessWire reports that Mangrove Lithium has closed a $10 million Series A funding round led by Breakthrough Energy Ventures.
- Mangrove Lithium is a Vancouver-based company that uses brines, hard rocks, clay, and battery recycling to build battery-grade lithium hydroxide and lithium carbonate.
- Some groups estimate that there will be a global supply gap of 4.3 million tons of lithium carbonate and lithium hydroxide by 2040 which would hinder the deployment of electric vehicles.
- Mangrove Lithium is just one example of the private sector finding innovative solutions to our greatest energy and environmental needs.
“Mangrove Lithium, a Vancouver based company, has developed a breakthrough platform for the most cost-effective production of battery grade lithium hydroxide and carbonate from diverse input streams and assets. Mangrove’s modular solution can be scaled to any capacity and co-located with upstream lithium producers or cathode and cell manufacturers.”
Read the full article here.
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