BMW i Ventures has announced a lead investment in green lithium refining technology Mangrove Lithium.
It is joined by existing investor Breakthrough Energy Ventures in the feedstock-flexible modular platform producing battery-grade lithium hydroxide and carbonate to improve the sustainability profile of lithium.
Mangrove Lithium’s electrochemical process eliminates the need for a carbonate plant, reducing the operating costs and time associated with first converting feedstock into lithium carbonate.
Its modular solution can be scaled at any capacity, at point of extraction or point of manufacturing or recycling and co-located with upstream lithium producers or cathode and cell manufacturers.
This is essential to the future of electric vehicles (EVs), as a sustainable and scalable production of lithium is needed to meet the increasing battery demand.
Kasper Sage, Managing Partner at BMW i Ventures said: “We are seeing an increasing need for these types of technologies as lithium demand increases and accessibility to green solutions remains limited today.
“Mangrove’s core technology offers the opportunity to fundamentally improve the supply chain of lithium production unlocking new lithium supply in a more environmentally-friendly way.”
The new investment will be used to further accelerate the launch of Mangrove’s first commercial plant.
Saad Dara, CEO of Mangrove Lithium added: “Our vision is to making green lithium refining a reality. Our modular approach enables us to adapt production capacity in a flexible way. By eliminating an entire conversion step in the process, we save cost and energy, making projects feasible that otherwise would not be financially viable.
“The ability to cut CapEx and OpEx, will be boosting investment rates of return and solidifying project bankability.”