Mangrove Lithium Secures $35M for North America’s First Electrochemical Lithium Refinery
Canadian company Mangrove Lithium has secured a $35 million (C$50.61 million) investment to construct a lithium refining plant in Delta, British Columbia. The facility, expected to be operational by late 2025, will be North America's first electrochemical lithium refining facility, strengthening the lithium supply chain and enhancing regional energy security.
The plant will produce battery-grade lithium materials sufficient to power an estimated 25,000 electric vehicles annually. The investment is timely, given China's proposed export ban on lithium processing technology.
Mangrove Lithium CEO Saad Dara emphasized the importance of securing a domestic lithium supply chain and highlighted the strong backing from financial, governmental, and strategic investors. Participants in the funding round include Mitsubishi Corporation, Asahi Kasei Corporation, InBC Investment, Orion Industrial Ventures, and Export Development Canada, alongside existing investors Breakthrough Energy Ventures, BMW i Ventures, and BDC Capital.
Mangrove’s facility will utilize an electrochemical refining process that reduces costs, eliminates harmful reagents, and minimizes waste, lowering the carbon footprint of battery-grade lithium production. The platform's flexibility allows for the production of both lithium hydroxide and lithium carbonate within a single system, enabling adaptability to market shifts and battery chemistry changes.
