Novalith Technologies develops LiCAL, a patented lithium extraction technology that directly uses and sequesters carbon dioxide to produce lithium chemicals. The company says the LiCAL process uses less equipment, chemical reagents, water and energy than conventional processing, which reduces capital and production costs. Direct use and sequestration of CO2 also produces a smaller emissions footprint than existing and alternative processes. Led by CEO Steven Vassiloudis, Novalith intends to scale up and commercialise LiCAL, including building a new pilot facility in Sydney. The company raised AU$23M in a Series A to support those scale-up and commercialisation plans. Investors in the round include Lowercarbon Capital, the Clean Energy Finance Corporation, the Grantham Environmental Trusts’ Neglected Climate Opportunities Fund, TDK Ventures and Investible. Novalith develops LiCALTM, a lithium extraction technology that uses carbon dioxide as a reagent to simplify production of lithium chemicals. The process reduces the need for conventional chemical reagents and consumes less equipment, water and energy, yielding a smaller emissions and waste footprint. The company says its approach both sequesters CO2 and lowers capital and production costs versus conventional processing. Novalith plans to use the seed proceeds to build out and operate a pilot plant in Sydney and move toward a commercial demonstration plant. Leadership includes Founder and CEO Steven Vassiloudis, Co-founder and CTO Dr Andrew Harris, and Co-founder and CBO Christiaan Jordaan. The company is positioning its technology for lower‑emissions lithium mining and refining transitions.

Total raised

$18M

Funding rounds

2

Latest round

Series A

Latest activity

Apr 2023