[ad_1]
This investment from the world’s leading manufacturer of battery-grade lithium chemicals will fund the company’s next phase of growth.
Salinity Solutions, an engineering technology start-up based in Birmingham, UK, has secured an initial investment of £1 million from SQM Lithium Ventures to fund its next stage of growth. In return, SQM Lithium Ventures will receive a minority ownership interest in the company, with an option to acquire additional shares in the future.
SQM Lithium Ventures is the corporate venture capital arm of the lithium business of Sociedad Química y Minera de Chile (SQM), one of the world’s leading manufacturers of battery-grade lithium chemicals. Salinity Solutions joins SQM Lithium Ventures’ portfolio alongside industry-leading companies such as Altilium Clean Technology and Electric Era.
Founded in April 2021 as a spin-out from the University of Birmingham, Salinity Solutions has developed the world’s first commercially manufactured, revolutionary batch process to dramatically reduce the environmental impact of water treatment. We have developed HyBatchä, a reverse osmosis water treatment technology. This technology uses less energy, purifies more wastewater, produces less waste than traditional reverse osmosis systems, and is more compact and portable. The first of his five granted patents for Salinity Solutions was approved in the European Union, China, and the United States.
Since its launch in 2021, Salinity Solutions has completed trials in multiple industries including lithium mining, industrial and municipal wastewater, and food production. The company has built a strong sales pipeline across multiple sectors and regions.
“SQM’s investment will accelerate Salinity’s growth and help us reach our 2024 goals of increasing unit sales and securing our first license agreement. Their strategic interests in lithium and water Combined with our geographic reach into China, we are perfectly suited to support our ambitious growth plans,” said Richard Bruges, CEO of Salinity Solutions.
This investment comes in conjunction with SQM’s ongoing efforts to improve efficiency and reduce environmental impact as part of its sustainability goals. These include reducing groundwater use by 40% by 2030, reducing brine extraction in the Salar de Atacama by 20% by 2023 and 50% by 2030; This includes achieving carbon neutrality in production. As part of the collaboration with SQM, the Salinity Solutions team will run a pilot project in the Salar de Atacama with team members based in Antofagasta and other locations in northern Chile.
Angeles Romo, Director of SQM Lithium Ventures, commented: “SQM Lithium Ventures is investing in Salinity Solutions with the hope that the company will be able to scale and impact across industries and geographies through its innovative technology. This is our first investment in water, which is one of our key investment areas alongside lithium and electromobility. At SQM Lithium Ventures, we are committed to investing in cleantech, especially water projects, to accelerate startups like this. By doing this, we not only aim to grow our business, but also impact the quality of life in multiple communities.”
Tim Naughton, co-founder and CTO of Salinity Solutions, commented: Global water demand is expected to double in the next five years. Water treatment consumes 4% of the world’s total electricity production, and traditional reverse osmosis systems are energy-intensive. Working with SQM can bring significant energy and water savings to the mining sector and many other industries in Chile and around the world. ”
Pablo Meripillan, China Lithium Process Director at SQM, who will join Salinity Solutions’ board of directors, commented: With its experience in implementing innovation, scaling up and building cutting-edge industrial projects, SQM can help Salinity achieve its technical and commercial goals. ”
Salinity Solutions was established after 10 years of research and development at Aston University and the University of Birmingham, under the supervision of Professor Philip Davies. Founder Tim Naughton secured his Innovate UK ICURe grant and seed investment from Clean Engineering, and then his two oversubscribed crowdfunding campaigns on Crowdcube. Existing investors, including the University of Birmingham, have added to this investment round over the past six months, investing over £960,000 alongside SQM and providing a total of £1.96m of new funding to the company.
[ad_2]
Source link
