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Deeptech startup ElectraLith raises $27.5m series A
ElectraLith, lithium extraction startup, has raised US$27.5 million in a series A funding round led by Main Sequence.
Other participants included Breakthrough Victoria, Rio Tinto, Chevron Technology Ventures, IP Group, and Monash University.
The funds will support the development, implementation of ElectraLith’s Direct Lithium Extraction and Refining (DLE-R) technology and the deployment of its first field pilot plant.
The company plans to deploy three pilot plants within the next two years, including trials at Rio Tinto’s Rincon Project in Argentina by 2026.
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