Lilac Solutions Raises Funds for Lithium Extraction

Lilac Solutions of Oakland, CA has raised US$150 million in its latest investment round and notes new investors include SK Materials, BMW i Ventures, Presidio Ventures, MCJ Collective, and Earthshot Ventures.

Doug Kuribayashi, CEO of Presidio Ventures, a Sumitomo Corp Group company, said, “We’re excited to contribute to the sustainable expansion of the world’s lithium supply through our investment. We believe that the Sumitomo Corp’s expertise and long experience in the management and operations of mining businesses, and our global network in trading raw materials for battery production, will add value enhancement of Lilac Solutions in the future.”

Lilac Solutions has developed a patented ion exchange technology that facilitates production of lithium from brine resources.

Volume 35, Issue 19

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