Aer Ventures completes investment round into Watercycle Technologies
Investors in this round: Led by Aer Ventures
Watercycle Technologies Limited has today announced the completion of its pre-seed funding round led by Aer Ventures. Watercycle Technologies, a spin-out of The University of Manchester, has developed a range of advanced graphene-based membranes and systems to extract lithium and other minerals from brines and water solutions.
Watercycle Technologies has already demonstrated that its solutions can extract lithium from UK-based brines and can recover lithium from lithium batteries during the battery recycling process. This investment will allow the business to further develop their prototype solutions and test them at scale at live extraction and recycling locations.
Successful development of the next stage will allow the business to demonstrate its potential to support the UK and Europe in their aim to be self-sufficient in lithium. The technology also shows the potential to refine the lithium up to battery-grade, which will allow the processing of battery-grade lithium to occur at production sites around the world. Together, these capabilities could significantly improve the environmental footprint of lithium production for EVs.
Chris Rowley, Managing Partner of Aer Ventures, added: “Watercycle Technologies is exactly the type of business we exist to support. With a sustainable vision and a proven technology, the business has the potential to solve one of our major environmental problems – the need for critical minerals to support the transition to Net Zero. With serious commentators such as the IEA estimating the world could require over 50 times more lithium by 2040 than it produced in 2020, the innovation Watercycle Technologies provides has never been more essential and we are pleased to support the business in taking this game changing technology to market.”