Overview
Melbourne-based cleantech start-up and Monash University spin out, ElectraLith, has developed the next generation of lithium extraction and refining technology. Its patented membrane separation technology, called direct lithium extraction and refining (DLE-R), extracts and refines battery-grade lithium from brines in one step without using water or chemicals.
An innovation worth its salt
Lithium for battery technology is key to transitioning the world to a low-carbon future. So when ElectraLith showed its DLE-R innovation could simultaneously extract and refine 99% pure lithium, it was a watershed moment. The breakthrough solves lithium’s environment challenges as a low-carbon battery power source and reduces the world’s overdependence on China for battery-grade lithium processing.
After rapidly moving through its proof of concept and early-stage growth phases, the cleantech embarked on its Series A funding round. Although the capital raise round was highly successful, it took longer than expected. So ElectraLith needed a source of bridge funding while it raised capital. Radium Capital emerged as the cleantech’s lender of choice due to its approach to security and the ability of Radium Advances to complement other types of funding.
ElectraLith Chief Executive Officer Charlie McGill says, “Radium Capital’s team is highly client focused, and the Radium Advance is an excellent non-dilutive funding option that’s fast and easy to access for start-ups and scale-ups.”
Pilots on the horizon
ElectraLith reinvested its Radium Advance in R&D before closing its successful multi-million-dollar Series A funding round. Now the start-up is focusing its R&D on scaling up the size of its membrane and the manufacturing of its modular DLE-R plant and equipment. The cleantech is also ramping up its commercialisation journey with plans for three pilot plants at lithium brine aquifer sites to test its ground-breaking lithium extraction and refining at scale.
For more information, visit the ElectraLith website.
