Lilac Solutions is raising $150 million from investors including Lowercarbon Capital and T. Rowe Price.
The 35-person start-up developed an alternative, and more sustainable, method for extracting lithium, a key ingredient in electric car batteries.
That presents an economic challenge today. But the longer-term problem is that lithium extraction has potentially severe environmental consequences. To get lithium in volume requires either mining it from hard rock or evaporating it from subsurface brines, which are essentially saltwater ponds in the desert.is aiming for half of all new passenger vehicle sales in the U.S.
The company loads the beads into a big tank where a brine resource is located. As the brine flows through the tank, the beads absorb lithium out while rejecting contaminants in the water, like sodium, magnesium, calcium and boron. The system flushes the beads with hydrochloric acid to produce lithium chloride and then converts it into a powder form of lithium, which automakers need to produce their battery cells.
With its funding, the company plans to double headcount in the next year. It will also develop pilot lithium projects in Argentina and Chile to complement their U.S. pilot, and will continue sending lithium samples to battery and automakers.Courtesy: Lilac Solutions Inc. Lilac pumps everything it's taken but hasn't used from the continental brine and puts it back where the company found it, he said. Without increased lithium production, Nordan added, the auto industry will face steep cost increases.
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