Summit Nanotech Closes US$14M Series A Funding
- Summit Nanotech Corporation, a Calgary, Alberta, Canada-based sustainable lithium extraction company, closed a US$14M Series A funding
- The round was co-led by Xora Innovation (an early-stage deep tech investing platform of Temasek) and Capricorn’s Technology Impact Fund, along with BHP Ventures
- The company intends to use the funds to advance the commercialization of its technology
- SummitNanotech Corporation has developed direct lithium extraction (DLE) processes to economically and sustainably unlock lithium resources globally
- At the core of the company’s offering its denaLi™ DLE platform, which leverages advanced nanomaterials and employs proprietary processes to make lithium extraction cleaner and more efficient
- The technology is addressing the critical supply constraints and sustainability requirements to meet the surge in lithium demand due to the increased pace of adoption of electric vehicles and renewable energy
