Mangrove Raises $3M from BDC Capital to Accelerate & Diversify Lithium Refining Globally
9.2.2021 18:44:00 EET | Business Wire | Press release
Mangrove Lithium announced the successful closing of a $3M financing from BDC Capital’s Cleantech Practice.
Mangrove is a developer of a breakthrough modular platform for the most cost-effective production of battery grade lithium hydroxide. Its electrochemical innovation simplifies existing processes and can directly refine input streams from brine, hard-rock, clay and geothermal assets.
“Lithium processing is presently concentrated in a small number of regions in the world,” says Mangrove’s CEO Saad Dara. “As electrification and decarbonization accelerates, Industry and Governments have recognized the emerging supply risk and the importance of having access to a diverse, secure and low-cost source of the critical raw material.”
Mangrove plans to leverage technology platform advancements made possible with $7.1M in previously announced funding from Emissions Reduction Alberta (ERA) and Sustainable Development Technology Canada (SDTC). An additional $3M in funding from BDC will help Mangrove accelerate the deployment of the first commercial systems with upstream lithium producers and cathode and cell manufacturers.
“This is a pivotal moment as awareness around environmental challenges rises on a global level. Mangrove’s technology is truly unique as it addresses a key bottleneck in the lithium supply chain,” said Cheri Corbett, Director with BDC Capital’s Cleantech Practice. “We could not be more excited to support the Mangrove team in their plans for commercialization.”
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
About Mangrove Lithium
Mangrove Lithium, a Vancouver based Company, has developed a breakthrough platform for the most cost-effective production of battery grade lithium hydroxide from diverse input streams and assets. Mangrove’s modular solution can be scaled to any capacity and co-located with upstream lithium producers or cathode and cell manufacturers. The platform technology is also being commercialized for conversion of waste brines to chemicals and desalinated water. Visit www.mangrovelithium.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210209005434/en/
Contact information
Media Inquiries
Mangrove Lithium: Saad Dara, info@mangrovelithium.com
BDC Media relations: mediainfo@bdc.ca
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Unleash Raises $35M Led by One Peak to Help Enterprises Ship AI-driven Software Faster, Safer, and Smarter4.3.2026 16:00:00 EET | Press release
Unleash, the open-source FeatureOps company, today announced a $35 million Series B financing led by One Peak, with participation from existing investors Spark Capital, Frontline Ventures, and Firstminute Capital. The new funding will be used to accelerate product innovation and global expansion as enterprises confront the opportunities and risks of AI-accelerated software delivery. AI has dramatically accelerated software development, creating a generational opportunity for anyone in an enterprise to turn ideas, prompts, and prototypes into applications. But AI has also outpaced the systems designed to control software delivery. DORA research shows that a 25% rise in AI adoption correlates with a 7% drop in software stability. Enterprises are shipping code 2-3x faster with AI, yet outages caused by uncontrolled feature rollouts and missing kill switches are costing businesses millions in lost revenue, prolonged customer downtime, and brand damage. FeatureOps is emerging as the missing
Capcom’s Resident Evil Requiem Surpasses 5 Million Units!4.3.2026 16:00:00 EET | Press release
Capcom Co., Ltd. (TOKYO:9697) today announced that worldwide sales of Resident Evil Requiem, released on February 27, 2026, surpassed 5 million units. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304446142/en/ Resident Evil Requiem Logo Resident Evil Requiem is the latest installment in the Resident Evil series, which celebrates its 30th anniversary this month. The title successfully elevated the essence of survival horror by heightening the interplay between intense fear and exhilarating action. Resident Evil Requiem was developed using RE ENGINE, Capcom’s proprietary game engine, which allowed the company to deliver visuals in photorealistic detail, including the characters’ skin, teary eyes, and flowing hair, as well as the translucency of light. In addition, the title offers a new game experience for a broad fanbase through multiple difficulty settings that accommodate everyone from newcomers to experienced players,
Siren Fusion 2026: The Convergence of People, Technology and Ideas4.3.2026 15:30:00 EET | Press release
Siren today announced Siren Fusion 2026, its inaugural global summit convening senior investigators, national security leaders and AI innovators for a high-trust forum on the future of investigative intelligence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304240853/en/ Siren Fusion 2026 is the convergence of people, technology and ideas, in Galway, Ireland. An invitation-only summit for global intelligence, national security and investigative leaders. Taking place in Galway, Ireland, Fusion is the deliberate convergence of people, technology and ideas within a national security frame. Structured as an educational and strategic forum rather than a conventional conference, Fusion 2026 focuses on the issues that now define the intelligence and law enforcement agenda: Geopolitical instability AI-driven investigative transformation Cognitive warfare and influence operations Entity resolution and data integrity at scale The
Mary Kay Goes for Gold in Global Manufacturing Standards4.3.2026 15:11:00 EET | Press release
Mary Kay Inc., a global direct sales leader in beauty and skincare innovation, has achieved ISO 22716 certification, the internationally recognized gold standard for cosmetic Good Manufacturing Practices (GMP), reinforcing the company’s unwavering commitment to product quality, safety, and consumer trust worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260304100367/en/ Chaun Harper, Chief Supply Chain Officer at Mary Kay Inc., emphasized the broader significance of the milestone: “At Mary Kay, quality is not a checkbox – it is a promise, an operational framework, and a culture. (Photo Credit: Mary Kay Inc.) Key Data Points About Mary Kay’s Global Manufacturing: Built on 26 acres of land, Mary Kay’s state-of-the-art, Silver LEED-certified Richard R. Rogers Manufacturing and R&D Center (R3) is located in Lewisville, Texas. R3 is a $100+ million investment and is a 453,000-square-foot building. R3 has the capability to
NelsonHall Recognizes LTM as a Leader in GenAI & Process Automation for Banking4.3.2026 14:45:00 EET | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, has been recognized as a Leader in the ‘Overall’ market segment in the NelsonHall NEAT Evaluation for GenAI & Process Automation in Banking 2025. In the NEAT framework, Leaders are vendors that demonstrate high capability relative to peers in delivering immediate client benefit while also meeting future client requirements. The recognition positions LTM among the top-performing vendors evaluated for their ability to deliver both immediate business impact and long-term innovation capability in GenAI and process automation services for the banking sector. The evaluation highlights LTM’s depth of experience in financial services, which accounts for a large portion of its overall revenues, and its focused investments in GenAI, agentic AI, and process automation capabilities delivered through its BlueVerse™ platform. LTM has digital agents dedicated to manage GenAI and process automation services, supporting banking cl
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom