ElectraLith secures a $27.5m Series A to develop green lithium extraction process
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The news: Victorian lithium technology company ElectraLith has secured $27.5 million in Series A funding to develop its one-step lithium extraction and refining process.
The round was led by Australian deep tech investment fund Main Sequence, alongside other major investors including IP Group, Rio Tinto, Breakthrough Victoria, Chevron Technology Ventures and Hostplus.
The numbers: The global lithium market is forecast to grow from $26 billion in 2025 to $37 billion by 2027. Traditional lithium extraction methods currently require up to 2.2 million litres of water to produce one tonne of lithium over an 18-month period.
The Series A funding will support the deployment of three pilot plants within 24 months.
The context: ElectraLith's direct lithium extraction and refining (DLE-R) technology aims to address inefficiencies in traditional lithium mining methods.
The process uses proprietary membrane technology developed at Monash University that requires no water or harmful chemicals and can be powered by renewable energy.
The technology comes at a time when the lithium industry faces growing demand from electric vehicles and energy storage systems, while grappling with environmental challenges from conventional extraction methods.
What they said: "ElectraLith's represents the next generation of lithium extraction and refining technology, unlocking the potential of a greener future. Our investment underscores our commitment to supporting innovations that drive the green energy transition and position Victoria as a leader in critical technologies," said Breakthrough Victoria acting-CEO Lauren Morrey.
The source: Breakthough Victoria press release
