Calgary-based Summit Nanotech has secured $36.5 million to advance its direct lithium extraction (DLE) technology. Led by Evok Innovations and BDC Capital’s Climate Tech Fund, the funding will support the commercial deployment of Summit’s denaLi™ system, which optimizes lithium recovery while reducing water use and costs.
CEO Amanda Hall highlighted the company’s transition to full-scale operations. Recent milestones include commissioning a Chile demonstration plant and qualifying its sorbent technology. With backing from Mitsui Kinzoku, LG Technology Ventures, and others, Summit is strengthening the lithium supply chain to meet growing EV battery demand.
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