UK-based Salinity Solutions’ water treatment project has secured an initial investment of $1.27 million from SQM, a major battery-grade lithium chemicals company.
This financing will allow the next stage of the project’s growth to be boosted. However, SQM Lithium Ventures will acquire a minority stake in the company, with the option to increase it in the future.
Saliniy Solutions highlights its water treatment project
The company has developed a “batch reverse osmosis” water treatment technology designed to reduce the environmental impact of water treatment. This technology, the first of its kind in the world to be commercially manufactured, uses less energy, purifies more wastewater, generates less waste, and is more compact and portable than traditional reverse osmosis systems.
The startup’s CEO, Richard Bruges, says SQM’s investment will accelerate the company’s growth and help achieve 2024 targets, which include increasing unit sales and securing the first licensing agreement. SQM’s strategic synergy in lithium and water, combined with its geographic reach from Chile to China, provides perfect support for Salinity Solutions’ ambitious growth plans.
Since its launch in 2021, Salinity Solutions has completed tests in various industries, such as lithium lithium mining industrial wastewater, and food production. In addition, the company has developed a strong sales channel across multiple industries and geographies.
This investment is in line with SQM’s efforts to improve efficiency and reduce its environmental impact as part of its sustainability objectives. This includes reducing groundwater use by 40% by 2030, reducing brine extraction in the Salar de Atacama (Chile) by 20% by 2023 and 50% by 2030, and carbon neutrality in lithium production by 2030.
Don’t miss any of our posts and follow us on social media!
Inspenet.com YouTube LinkedIn Facebook Instagram
Source: Salinity Solutions
Photo: AI-generated image
Loading...
