Materials recovery company SiTration has garnered $11.8m in seed funding to enhance critical metals and minerals recovery.
The fundraise was led by 2150, with BHP Ventures, Extantia and Orion Industrial Ventures also contributing to the round.
Additionally, the financing round saw continued support from previous investors Azolla Ventures and the MIT-affiliated E14 Fund.
2150 partner Jacob Bro said: “The need for breakthrough technology that addresses the staggering shortage of critical metals the world is facing as we transition to a clean, electrified energy system is real.
“With SiTration, we believe we have found the most promising technology and an incredible team to take it to commercial scale in global mining and in the emerging battery recycling industry.”
The company will use the capital raised to scale its critical metals recovery solution as well as implement pilot systems with commercial partners.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
SiTration, born out of MIT research, is focused on addressing the growing demand for materials essential to clean energy technologies.
It aims to reduce the cost and environmental impact of material extraction and recycling, aligning with global circular economy goals.
The company’s patented porous silicon membrane technology offers a chemical-free, energy-efficient method for material extraction and recycling.
This technology is pivotal in reducing greenhouse gas emissions and localised pollution, contrasting with traditional material sourcing methods.
SiTration has struck an alliance with mining giant Rio Tinto, with a focus on valorising and remediating mining waste streams.
This partnership highlights SiTration’s role in driving sustainable practices within the mining sector.
Expanding its technological applications, SiTration is also venturing into metals refining and Li-ion battery recycling.
This broadens the company’s sustainability commitment and its potential influence across various industries.
SiTration co-founder and CEO Dr Brendan Smith said: “The magnitude of the challenge presented by the need to bolster the critical materials supply chain is clear.
“There is a major missing link between the clean energy technologies we so desperately need and the sourcing of the materials that are at their core.
“Our solution can create a cleaner, more equitable and more profitable critical materials supply chain across multiple industries, all with a single technology.”
