Delta, B.C.’s Mangrove Lithium has received an investment from InBC, a strategic investment fund created by the Province of British Columbia.
InBC has $500 million and a mission to invest in growing companies and venture funds to benefit the people of B.C.
Mangrove’s patented lithium refining technology is more sustainable and cost-effective than existing technologies, producing a significantly smaller carbon footprint without any waste-byproducts. It can be applied across the battery-value chain, from lithium production to battery recycling and manufacturing.
The company is helping to meet the increased global demand for sustainable critical minerals, decarbonizing the supply chain and supporting the energy transition to a net-zero future.
“Mangrove is committed to developing a local lithium supply chain. There was no better way to demonstrate this than working with InBC to build a first-of-a-kind lithium refining plant in Canada right here in our backyard,” shared Saad Dara, CEO, Mangrove Lithium.
“This investment is a critical step in ensuring North America has lithium refining capacity that can compete with the rest of the world. We are excited to partner with a B.C. organization who has a strong mandate centered around sustainability and mitigating climate change to help diversify B.C.’s economy.”