Bill Gates-led fund invests in making lithium mining more sustainable
2020-02-24 08:27:45 [Print]
Breakthrough Energy Ventures, helmed by Bill Gates, and MIT's The Engine fund are leading an investment round of $20 million for Lilac Solutions, a U.S. startup aimed at making the extraction of lithium less water-intensive and more sustainable.
Lilac Solutions, based in Oakland, California, is a one of a handful of startups deploying technologies that could drastically cut water use, lower capital expenditure, and make lithium-extraction more energy efficient. Instead of waiting for the sun to heat evaporation ponds, Lilac Solutions uses ion-exchange beads that are able to selectively remove lithium and leave behind magnesium, calcium, boron, and other unwanted minerals. Once the beads are saturated, they're treated with an acid to extract the lithium and can then be used again. Lilac Solutions' process also cuts energy use and thus greenhouse-gas emissions.
The new round of funding will allow Lilac Solutions to create a manufacturing line in California. The company intends to partner with existing mines rather than open its own; the first pilot using Lilac's technology will start in Argentina later this year, in partnership with mining company Lake Resources. If it works, the company hopes to deploy the technology to extract lithium from unconventional sources, such as oil fields and geothermal power plants, which both produce copious amounts of brine.
Lilac Solutions, based in Oakland, California, is a one of a handful of startups deploying technologies that could drastically cut water use, lower capital expenditure, and make lithium-extraction more energy efficient. Instead of waiting for the sun to heat evaporation ponds, Lilac Solutions uses ion-exchange beads that are able to selectively remove lithium and leave behind magnesium, calcium, boron, and other unwanted minerals. Once the beads are saturated, they're treated with an acid to extract the lithium and can then be used again. Lilac Solutions' process also cuts energy use and thus greenhouse-gas emissions.
The new round of funding will allow Lilac Solutions to create a manufacturing line in California. The company intends to partner with existing mines rather than open its own; the first pilot using Lilac's technology will start in Argentina later this year, in partnership with mining company Lake Resources. If it works, the company hopes to deploy the technology to extract lithium from unconventional sources, such as oil fields and geothermal power plants, which both produce copious amounts of brine.
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