{"id":122475,"date":"2021-10-06T13:35:23","date_gmt":"2021-10-06T13:35:23","guid":{"rendered":"https:\/\/fin2me.com\/?p=122475"},"modified":"2021-10-06T13:35:23","modified_gmt":"2021-10-06T13:35:23","slug":"bmw-invests-in-lithium-technology-startup-lilac-solutions","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/bmw-invests-in-lithium-technology-startup-lilac-solutions\/","title":{"rendered":"BMW invests in lithium technology startup Lilac Solutions"},"content":{"rendered":"

(Reuters) – BMW said on Wednesday it will invest in lithium technology startup Lilac Solutions Inc to support more-efficient ways to produce the electric vehicle battery metal.<\/p>

FILE PHOTO: The logo of German car manufacturer BMW is seen on the company headquarters in Munich, Germany, December 5, 2019. REUTERS\/Andreas Gebert <\/figcaption>

Privately-held Lilac is part of a growing number of technology developers seeking to extract lithium from saltwater brines faster, cheaper and with less water than evaporation ponds, which have long been the industry standard.<\/p>\n

BMW, which already buys lithium from China\u2019s Ganfeng Lithium Co and other traditional lithium producers, said it sees Lilac\u2019s technology as a way to boost global production of the white metal as demand grows from the EV market.<\/p>\n

\u201cThis holds the promise of becoming a new extraction technology that allows access to more green lithium,\u201d said Kasper Sage of BMW i Ventures, BMW\u2019s venture capital fund.<\/p>\n

The German automaker is participating in Lilac\u2019s Series B funding round alongside SK Materials Co, Sumitomo Corp investment arm Presidio Ventures and others.<\/p>\n

BMW declined to discuss its investment amount, though the total from all investors announced on Wednesday was less than $20 million, according to regulatory filings. T. Rowe Price and others were part of an initial $130 million funding round for Lilac\u2019s Series B announced last month.<\/p>\n

Lilac plans to use the funds to construct a U.S. manufacturing facility for ion exchange beads, which are core to its extraction process.<\/p>\n

The company last month agreed to use its technology here to develop a lithium project in Argentina with Lake Resources NL.<\/p>\n

\u201cLilac has focused on proving our technology is reliable and scalable. And that\u2019s been resonating with members of the supply chain,\u201d said Dave Snydacker, Lilac\u2019s chief executive.<\/p>\n

Lilac\u2019s peers include privately held EnergySource Minerals LLC and Energy Exploration Technologies Inc, as well as Vulcan Energy Resources Ltd, Standard Lithium Ltd and E3 Metals Corp.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – BMW said on Wednesday it will invest in lithium technology startup Lilac Solutions Inc to support more-efficient ways to produce the electric vehicle […]<\/p>\n","protected":false},"author":3,"featured_media":122474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBMW invests in lithium technology startup Lilac Solutions - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/bmw-invests-in-lithium-technology-startup-lilac-solutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BMW invests in lithium technology startup Lilac Solutions - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – BMW said on Wednesday it will invest in lithium technology startup Lilac Solutions Inc to support more-efficient ways to produce the electric vehicle [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/bmw-invests-in-lithium-technology-startup-lilac-solutions\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-06T13:35:23+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/10\/BMW-invests-in-lithium-technology-startup-Lilac-Solutions.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/bmw-invests-in-lithium-technology-startup-lilac-solutions\/\",\"url\":\"https:\/\/fin2me.com\/markets\/bmw-invests-in-lithium-technology-startup-lilac-solutions\/\",\"name\":\"BMW invests in lithium technology startup Lilac Solutions - 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