Mangrove Lithium, a pioneering Canadian lithium conversion company, has announced a $35 million financing round to kickstart construction of North America’s first electrochemical lithium refining facility.
Located in Delta, British Columbia, the state-of-the-art plant is expected to produce battery-grade lithium sufficient to power 25,000 electric vehicles (EVs) annually by late 2025.
This project marks a significant milestone amid global shifts in lithium supply chains, including China’s proposed export ban on lithium processing technology. By bolstering the regional supply chain, the facility aims to enhance North American energy security and support the growing demand for EVs.
“Establishing North America’s first electrochemical lithium refining facility marks a key milestone in securing the continent’s battery supply chain,” said Saad Dara, CEO of Mangrove Lithium. “This plant will meet the demand for battery-grade lithium while enhancing energy independence amid rising geopolitical uncertainties.”
Mangrove Lithium was a 2024 Foresight 50 Honouree
Foresight 50 helps ventures thrive through showcases and 1:1 connections with international investors. The program has been spotlighting Canada’s 50 most investible cleantech ventures since 2021, connecting them with Foresight’s vast network of international investors to raise capital and multiply their impact. Learn more.
The $35 million funding round drew participation from notable new investors, including Mitsubishi Corporation, Asahi Kasei Corporation, InBC Investment, Orion Industrial Ventures, and Export Development Canada. Returning investors such as Breakthrough Energy Ventures, BMW i Ventures, and BDC Capital also contributed.
“Lithium is essential to the energy transition,” said Jason Holt, Partner at Orion Industrial Ventures. “Mangrove’s technology diversifies the lithium supply chain with strong economics and minimal environmental impact.”
The Delta facility will employ Mangrove’s innovative electrochemical refining process, which eliminates harmful reagents, reduces waste, and minimizes production costs and the carbon footprint of battery-grade lithium. This unique platform also allows the production of both lithium hydroxide and lithium carbonate, offering flexibility to meet evolving market demands.
“Mass adoption of electric vehicles is key to a clean energy future,” said Carmichael Roberts of Breakthrough Energy Ventures. “Mangrove’s innovation creates a more sustainable and cost-effective lithium supply chain.”
Construction is already underway, with the facility set to position Canada at the forefront of clean energy innovation while supporting global efforts to transition to a more sustainable future.
Earlier this year Mangrove Lithium was one of nine Canadian companies named to the 2025 edition of the Global Cleantech 100 list.