Lilac Solutions, a lithium extraction technology company, has recently raised $150 million in a Series B funding round. New investors in this funding round include SK Materials, BMW iVentures, Presidio Ventures (a Sumitomo Corporation Group Company), MCJ Collective, and Earth shot Ventures.
“The lithium industry must innovate to meet the needs of battery and automotive companies; otherwise, the transition to electric vehicles will be delayed,” said Dave Snydacker, CEO of Lilac Solutions.
“We’re delighted to add strategic partners who deeply understand each facet of lithium supply and support our mission of ramping production.”
Lilac Solutions’ Technology
High-energy batteries have the chemical element lithium in them. Due to its high energy density, it has fewer cells and a s...