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Tidal Metals raised $8.5 million in a Series Seed funding round led by DCVC to develop a commercial pilot plant for extracting magnesium metal from seawater.

Sep 19, 202410 months ago

Amount Raised

$8.5 Million

Round Type

seed

HamiltonPrecious MetalsMiningManufacturing

Investors

Bidra Innovation VenturesFirst Spark VenturesDcvc

Description

Tidal Metals has completed an $8.5 million Series Seed funding round led by DCVC, with participation from First Spark Ventures and Bidra Innovation Ventures. The funds will be used to develop and construct a commercial pilot plant aimed at demonstrating a breakthrough technology for extracting magnesium metal from seawater.

Company Information

Company

Tidal Metals

Location

Hamilton, New Jersey, United States

About

Tidal Metals, founded by three PhD scientists from MIT, Princeton and Wisconsin, is a deep-tech company based in New Jersey that has developed a breakthrough suite of innovations for producing critical minerals and metals from seawater and brines – with no waste, no carbon emissions, and no harm to the environment. Tidal Metals' first application is producing magnesium metal from seawater using only electricity to unlock an economically competitive and unlimited supply of this critical, structural metal needed for lightweighting transportation, national security, hydrogen storage, and manufacturing other structural metals.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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