Groningen’s Future Tech Ventures invests €350K in IonIQs to extract lithium from wastewater: Know more
Summary
On Monday, Groningen-based Future Tech Ventures (FTV), announced that it has invested 350K in IonIQs, a startup from Groningen that has developed a sustainable technology to efficiently filter lithium from wastewater.The announcement comes over two months after Future Tech Ventures made its debut with 20M proof-of-concept fund to back 50 Northern Netherlands startups.Lithium is a scarce and essential material for high-quality batteries, and the current extraction and purification process leads to enormous water waste worldwide.Based out of Groningen, IonIQs technology offers a solution by reducing water consumption and increasing efficiency for mining and refining companies.The Dutch company offers a sustainable solution a technology that filters wastewater efficiently. At the same time, we increase the overall return for mining and battery companies, making it economically very attractive for them.As a part of the technology development, IonIQs collaborates with Wetsus (European center of excellence for sustainable water technology) in Leeuwarden, with the Faculty of Science and Engineering (FSE) ofthe University of Groningen and with the Zernike Advanced Processing (ZAP) facility of ENTRANCE in Groningen.To use lithium in high-quality batteries, such as those for cars, phones, and laptops, it must be extremely pure: at least 99.5 per cent pure lithium.IonIQs currently achieve a purity of 99 per cent from wastewater.Our focus is on achieving 99.5 per cent, says Jasper. As soon as that is successful, we can work with companies on a pilot project.The company is planning to scale up the capacity to 10-40 cubic meters of filtered water per hour.In the long term, IonIQs aims to integrate the technology into modular shipping containers that can be easily adapted to each customers specific wastewater.them to electricity, introduce wastewater, and receive clean water and pure lithium.Future Tech Ventures: What you need to know?Future Tech Ventures (FTV) is a proof-of-concept fund. The fund, with a size of approximately 20M, was created through a collaboration between Triade, RUG Ventures, NV NOM, and Investeringsfonds Groningen.FTV is ready to guide and finance dozens of high-tech startups in theNorthern Netherlands over the next five years. IonIQs has found a niche in the lithium industry, where their technology can be used to limit pressure on the environment and increase yields.