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Mangrove Lithium Closes USD $10M Series A Led By Breakthrough Energy Ventures

BusinessWire reports that Mangrove Lithium has closed a $10 million Series A funding round led by Breakthrough Energy Ventures.

The C3 Take
  • 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.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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