Cleantech Company Summit Nanotech Closes Us$14M Series A Round To Advance Sustainable Lithium Extraction
Cleantech Company Summit Nanotech Closes Us$14M Series A Round To Advance Sustainable Lithium Extraction
03/01/22, 2:30 PM
Location
Money raised
$14 million
Industry
transportation
sustainability
Round Type
series a
Summit Nanotech Corporation, a leader in sustainable lithium extraction, announced today the closing of a Series A investment round of US$14M, co-led by Xora Innovation (an early-stage deep tech investing platform of Temasek) and Capricorn’s Technology Impact Fund, along with BHP Ventures. Funds will be used to advance the commercialization of Summit Nanotech’s technology.
Company Info
Location
calgary, alberta, canada
Additional Info
Summit is a leading provider of direct lithium extraction (DLE) technology for the lithium mining industry. Founded in 2018 and headquartered in Calgary, Alberta, Summit has invented a patented sorbent, DLE process technology, and data analytics platform that, when combined, improves project economics by over $1,000 per tonne LCE and unlocks additional plant capacity compared to competing DLE technologies. Its technology selectively and efficiently captures lithium ions from brine which, after conversion, can be sold directly to a battery manufacturer. Summit partners with mining and oil and gas companies to accelerate and optimize their lithium resources.