Summit Nanotech Corporation recently announced a $17.8 million CAD ($14 million USD) all-equity Series A round it closed in December. The investment was co-led by Xora Innovation and Capricorn’s Technology Impact Fund with participation from BHP Ventures.
The investment brings Summit Nanotech’s total funding to $23.5 million CAD.
Founded in 2018 by A&S alumna and geophysicist Amanda Hall (HBSc 1996), Calgary-based Summit Nanotech develops processes designed to sustainably extract lithium resources.
The company’s denaLi platform uses advanced nanomaterials and employs processes to make lithium extraction cleaner and more efficient. It is designed to double yield, reduce climate pollution, minimize the use of chemicals and fresh water, and cut waste by 90 percent compared to traditional lithium extraction methods. Summit Nanotech’s technology is also being developed to recover lithium from battery recycling streams “to support the circular economy.”
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