Mangrove Lithium Closes USD $10M Series A Led By Breakthrough Energy Ventures
Mangrove Lithium announced today it has closed a $10 million USD Series A investment round led by Breakthrough Energy Ventures (BEV) with participation from existing investor BDC Capital’s Cleantech Practice (BDC). The company will use the investment to build its first operational, commercial-scale plant with the intention of expanding lithium refining capacity in the Western Hemisphere.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211117005128/en/
Figure 1 - Benchmark Mineral Intelligence (Graphic: Business Wire)
Benchmark Mineral Intelligence forecasts a global supply gap of 4.3 million tons of lithium carbonate and lithium hydroxide by 2040. The supply of high-purity, battery grade lithium will be critical to the rapid adoption of electric vehicles (EV). A shortage could keep millions of EVs from being built. (See Figure 1)
Mangrove has developed a feedstock-flexible, modular platform to produce battery-grade lithium hydroxide and lithium carbonate. It does so cost-effectively by using brines, hard-rock, clays, and battery recycling streams to address this supply gap.
“A sufficient supply of high-purity lithium is critical if the world is going to reach over 70% EV penetration by 2040. There is a strong risk of this ambition being derailed if the emerging supply deficit is not addressed today,” said Mangrove CEO Saad Dara.
The company’s technology unlocks new assets and turns resources into reserves by enabling greater project bankability. Mangrove’s initial focus is on the lithium brines that represent 60% of global deposits. Mangrove’s innovation eliminates complex steps in the conventional refining processes for lithium brines. In addition to eliminating CapEx traditionally associated with conventional refining methods, Mangrove’s technology has the potential to reduce OpEx by as much as 40% in lithium hydroxide production from brines.
“Transitioning to EVs is a critical step in reducing global greenhouse gas emissions. Mangrove’s technology solves a huge constraint in electrifying the world’s vehicle fleet by enabling the lowest-cost, highest-purity lithium hydroxide – at a scale of hundreds of millions of vehicles – and can be applied throughout the supply chain,” said Carmichael Roberts, Breakthrough Energy Ventures.
BDC’s Vivian Kan added that, “This investment will continue to build on Canadian innovation and secure a stronger position for Canadian firms in the lithium and battery sector.”
Mangrove’s platform can integrate with upstream lithium producers, vertically integrate lithium refining alongside battery manufacturing, or act as a versatile independent refinery. All of these contribute to a more resilient and distributed supply chain (See Figure 2). Mangrove intends to work with different companies throughout the lithium and battery supply chains to produce battery-grade lithium hydroxide and lithium carbonate at commercial scale to meet growing demand.
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 and carbonate 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 the conversion of waste brines to chemicals and desalinated water. Visit www.mangrovelithium.com.
About Breakthrough Energy Ventures
Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible.
The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
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.
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/20211117005128/en/
Contact information
Jack Shaw
jshaw@tigercomm.us
(510) 910-5427
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
30 Peer-Reviewed Studies Highlight Statistically Significant Health Benefits of Almased16.7.2025 10:15:00 EEST | Press release
Two recent, peer-reviewed clinical studies have found that Almased, a high-protein, low-glycemic meal replacement, delivers significant health benefits ranging from weight loss and improved metabolic health to anti-aging effects and enhanced quality of life. Both reviews synthesize 30 peer-reviewed clinical studies across three decades of scientific research, confirming that Almased is effective and safe for weight reduction, preservation of lean muscle mass, and cardiovascular health. The 2025 review in the American Journal of Biomedical Science & Research highlighted Almased’s efficacy and safety for wide groups of people including individuals seeking weight loss, those with metabolic syndrome or fatty liver, older adults needing to preserve muscle mass, and athletes or healthy-weight individuals who require additional high-quality protein. This review also discusses how Almased’s patented fermentation process produces over 80 bioactive peptides, including 2 times the average daily i
Skechers AERO Series Opens New Chapter of Technical Running Innovation16.7.2025 10:00:00 EEST | Press release
Skechers Performance opens a new chapter of running innovation with the arrival of the Skechers AERO series. Named for the aerodynamic feel of the design, Skechers AERO represents the latest evolution of technical running shoes from the brand. The collection is engineered to deliver an exhilarating blend of speed, style and comfort to help runners cut through the wind and push beyond their personal bests while logging miles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716754749/en/ Introducing the Skechers AERO Series of technical running shoes: Skechers AERO Burst, Skechers AERO Spark, and Skechers AERO Tempo (L-R). “Recently launched in North America and Asia, the AERO Series leverages innovative technologies to elevate our signature comfort that’s now available to runners in Europe,” said Ben Stewart, Vice President, Skechers Technical Performance Division. “An evolution of our legacy in running, Skechers AERO was d
The Future of Connectivity Starts Here: Network X Returns to Paris October 14 - 1616.7.2025 10:00:00 EEST | Press release
Network X 2025 - the only event that brings the fixed and mobile markets together - returns to Paris Expo Porte de Versailles October 14 - 16. Built for telecom's top players, this annual show drives business model innovation and monetisation of next-generation fixed, mobile, satellite and transport networks through AI and cloud. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716595903/en/ Speaker on Headliners Stage at Network X 2024 New to Network X in 2025 are specialty events designed to deliver expert insights on trending topics including Data Center World and two Expo Stages for Fixed-Line and Mobile. More than 5,500 telco network infrastructure professionals will gather alongside 1,500 telcos to learn from six program tracks highlighting the latest advancements in Fibre, Wi-Fi Networks and Services, IP and Optical Transport, Mobile Networks, Mobile Services, and Data Centres. “Network X is more than a conference—it
4Moving Biotech Enrolls First Patient in Phase 2a Trial of 4P004, a Potential First-in-Class GLP-1 Therapy for Knee Osteoarthritis16.7.2025 08:00:00 EEST | Press release
4Moving Biotech (4MB), a spin-off of 4P-Pharma dedicated to developing first-in-class treatments that modify the natural course of knee osteoarthritis (OA), today announced that the first patient has been enrolled in Phase 2a clinical trial, INFLAM MOTION. The study will evaluate 4P004, an intra-articular GLP-1 analog, as a potential first-in-class therapeutic candidate for knee osteoarthritis. INFLAM MOTION is a multicenter, randomized, double-blind, placebo-controlled Phase 2a trial planned to be conducted across Europe, the United States, and Canada. A total of 129 patients worldwide diagnosed with knee OA will be enrolled to evaluate, for the first time in humans, the efficacy of 4P004. “Enrolling our first patient is a pivotal step toward rewriting the treatment paradigm for knee osteoarthritis,” said Professor Francis Berenbaum, MD, PhD, Chief Medical Officer at 4Moving Biotech. “Almost 600 million people live with OA, yet no disease-modifying therapy has been done to patients. B
Belkin Achieves Qi2.2 Certification for Its Upcoming Products, Unlocking the Future of 25W Wireless Charging15.7.2025 20:06:00 EEST | Press release
Belkin, a leading consumer electronics brand for over 40 years, today announced it has received official Qi2.2 certification from the Wireless Power Consortium (WPC) for its upcoming products. As one of the first accessory brands to deliver Qi2.2-certified devices, Belkin is helping bring the next generation of wireless charging to market – enabling faster wireless charging speeds, broader compatibility, and improved performance for consumers. Belkin’s close partnership with the WPC since 2015 has been instrumental in bringing these advancements to consumers. As an early adopter and long-time contributor to WPC standards, Belkin was selected as one of a small group of trusted manufacturers to test and certify Qi2.2 products ahead of the broader industry rollout. All Belkin products undergo rigorous safety, quality, and performance testing. The company’s global headquarters includes WPC certified test equipment and state-of-the-art test labs dedicated to full product lifecycle validatio
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