CHARLESTOWN, MA / ACCESSWIRE / April 25, 2024 / Emilie Bodoin, Founder and Chief Executive Officer of Pure Lithium, a disruptive Boston-based lithium metal battery technology company, and Dr. Donald Sadoway, Co-Founder and Chief Scientific Officer, are pleased to announce the participation of Ivanhoe Capital in Pure Lithium's Series A equity financing to support its acceleration into the market. Ivanhoe Capital, who first pledged funds in April 2022, SailingStone Capital Partners, as well as WS Investment Company, the investment fund of Wilson Sonsini Goodrich & Rosati, made follow-on investments in Pure Lithium in this funding round.
Robert Friedland, Chairman of Ivanhoe Capital, commented: "Pure Lithium is poised to revolutionize the energy sector with groundbreaking battery and lithium extraction technology that redefines sustainability and efficiency. Their battery is crafted from abundant lithium and eliminates the need for scarce resources like nickel, cobalt, and graphite. By elegantly combining lithium extraction with novel battery technology, Pure Lithium delivers the highest performing lithium metal battery at the lowest cost.
"Ivanhoe Capital is pleased to support Pure Lithium in their growth, as they have pioneered Brine to Battery technology, producing a lithium metal anode in one step that is significantly less impactful on the environment than conventional lithium metal production. As Pure Lithium gears up to introduce its novel technology, we look forward to seeing them take their place at the forefront of an energy transformation that will empower billions globally."
Emilie Bodoin commented: "We are thrilled to have Ivanhoe Capital, WS Investment Company, and SailingStone Capital, a distinguished institutional investor, support us as we upscale our technology. These follow-on investments are a testament to the significant strides our team has made at Pure Lithium. Together with our new and existing supporters, including Oxy Low Carbon Ventures, we have a combination of strategic and financial investors who all add value to Pure Lithium."
About Pure Lithium
Pure Lithium is a disruptive Boston-based company led by world-renowned battery and metallurgical expert, MIT Emeritus Professor Donald R. Sadoway, as full-time CSO, and inventor and lithium expert, CEO Emilie Bodoin. The Company's novel Brine to Battery extraction technology unlocks unconventional sources of lithium to create a battery-ready electrode in one day. The resulting battery is free of excess lithium, cobalt, nickel, manganese, and graphite. For more information, visit www.purelithium.io.
About Ivanhoe Capital
Ivanhoe Capital Corporation has specialized in the provision of venture capital, project financing, and related financial services for a roster of international business enterprises since its founding in 1987. The company, with business bases in Singapore, Beijing, London and Vancouver, is owned and directed by its Chairman and Founder, Robert M. Friedland, and his family. For more information, visit www.ivanhoecapital.com.
Contact:
Amalie Mundt, Director of Corporate Development, Pure Lithium
amundt@purelithium.io
+1 (857) 260-3355
SOURCE: Pure Lithium
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