Novalith Technologies, a climate technology business situated in Sydney, Australia, has secured AU$23 million in Series A investment. Novalith will use this money to scale up and commercialize its proprietary LiCALTM Technology, including the establishment of a pilot plant in Sydney, Australia.
Novalith’s technique extracts lithium directly as battery quality lithium carbonate using carbonated water, leaving a byproduct of inert, CO2-infused rock. When compared to the conventional method, it reduces process costs, plant expenses, and plant footprints by up to 65%, 50%, and 25%, respectively. It also requires 90% less water than existing technologies and has the potential to accelerate the energy transition by allowing access to mineral resources in new geographies. Novalith is a collaboration of scientists, engineers, and fossil fuel exiles seeking to hasten the coming of the lithium century.
