BOSTON–(BUSINESS WIRE)–#Battery–Pure Lithium Corporation, a disruptive Boston-based vertically-integrated lithium metal battery technology company, is pleased to announce that it will conduct a roadshow in New York the week of November 18, 2024 to promote its $75M to $100M Q1 2025 Series B fundraise. The funds will support the scale-up of the Company’s technology towards commercial lithium metal battery production and a potential Initial Public Offering of the company.
Lithium metal is the “holy grail” of energy storage, a step change beyond today’s lithium-ion battery. It does not require graphite, nickel, cobalt and manganese, eliminating dependence on China and enabling local battery hubs in favorable jurisdictions for the first time ever.
Since opening its Boston lab in January of 2021, Pure Lithium has made impressive strides towards commercializing the lithium metal battery. This year, the Company raised $20M in its Series A.5 with Oxy Low Carbon Ventures as the lead investor. Major progress has been made on a number of fronts towards commercial battery production. This includes:
- Robust intellectual property protection, covering all aspects of lithium metal extraction and battery production with nearly 100 patents and patent applications to date.
- Selection and patenting of the optimal cathode material (vanadium oxides and vanadyl phosphates) to pair with the lithium metal anode. This includes a joint patent application with Nobel Laureate Professor Sir Stanley Whittingham, who won the 2019 prize for Chemistry for inventing the lithium-ion battery.
- World’s best cycling data for a lithium metal battery, with plus 1,300 cycles at commercially relevant charge rates of 1C and 1D, ready for commercial scale-up.
- Signing an agreement, to be announced shortly, with a multinational company to scale-up the manufacture of Pure Lithium’s patented solid-state lithium-selective membrane, a key innovation to enabling our unique breakthrough low-cost process for the direct electrodeposition of lithium metal anodes directly from lithium-bearing brines.
- Locking-up of the first upstream supplies of lithium (the first of many eventual deals around the world) through signing of a joint development agreement with Calgary-based junior mining company E3 Lithium Inc., which will secure enough lithium for 80 million electric vehicles and investigate the economic feasibility of manufacturing lithium metal batteries in Alberta using lithium from E3’s oil field brines.
- Acquisition of all intellectual and physical assets from Buffalo-based private company Dimien Inc., a leader in vanadium pentoxide-based cathodes.
It is our conviction that Pure Lithium will be the first, and perhaps only, company to commercialize next-generation lithium metal battery energy storage, delivering lower-cost, safer, longer duration and greener batteries to displace 40-year-old lithium-ion technology. Moreover, this will be done using North American-sourced lithium and vanadium, North American production facilities and will eliminate dependence on China completely.
Should you wish on this roadshow to meet Pure Lithium Founder, Chairman and CEO Emilie Bodoin; Co-Founder, Director, Chief Scientific Officer and MIT Emeritus Professor Donald R. Sadoway; and Company Director, former Assistant Attorney General of the United States and former Governor of Massachusetts Bill Weld; along with other key members of our management team, please reach out to Emily Merkel at [email protected] to secure a meeting opportunity.
To learn more about how Pure Lithium is revolutionizing battery production, go to: https://www.purelithium.io/
Contacts
Ross Larsen, Head of Editorial, 33 Communications
