SiTration Raises $2.35 Million in Pre-Seed Funding to Revolutionize Battery Recycling for Electric Vehicles
Summary
The funding will enable SiTration to accelerate hiring and ramp up development of its breakthrough technology for the recovery of critical materials in the lithium-ion battery recycling process.SiTration has pioneered a new filtration membrane technology that can potentially eliminate the need for energy- and resource-intensive chemical and thermal separation methods used for the extraction of materials such as lithium, cobalt, and nickel from recycled electric vehicle batteries. Built upon years of R&D at MIT, SiTrations patented conductive membrane technology can reduce the energy needed for materials extraction by as much as 10 times, while enabling a recovery yield over 95 percent. Our team could not be more excited to partner with Azolla Ventures and E14 Fund to realize this mission.With broad applicability across a number of different global industries, SiTrations technology can address one of the most urgent challenges in decarbonizing transportation: the critical materials supply shortage in the production of lithium-ion batteries for electric vehicles.With global EV sales expected to increase exponentially from three million units in 2020 to more than 60 million by 2040, the demand for lithium-ion battery materials will far exceed supply. In addition to improving and increasing primary extraction activities globally, battery recycling must play a central role in bolstering the supply chain. SiTration is poised to deliver a cleaner and more efficient recycling technique that will unlock low-cost reuse of critical battery materials.Spun out of MIT in 2020 by co-founders Brendan Smith and Jeffrey Grossman, SiTration is pioneering new separation processes that can unlock ultra-efficient extraction and recovery of critical materials foundational to a more sustainable future.