{"id":154158,"date":"2025-03-18T14:00:46","date_gmt":"2025-03-18T13:00:46","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=154158"},"modified":"2025-03-18T18:13:45","modified_gmt":"2025-03-18T17:13:45","slug":"summit-nanotech-corporation-closes-us25-5m-funding-round-to-accelerate-commercialization-of-their-direct-lithium-extraction-technology","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/summit-nanotech-corporation-closes-us25-5m-funding-round-to-accelerate-commercialization-of-their-direct-lithium-extraction-technology\/","title":{"rendered":"Summit Nanotech Corporation closes US$25.5M funding round to accelerate commercialization of their direct lithium extraction technology"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400;\">Statement issued by the company (Announcement)<\/span><\/p>\n<p>Summit Nanotech Corporation (\u201cSummit\u201d), a leader in sustainable lithium extraction technology, announced today that it has successfully closed US$25.5 million in funding led by Evok Innovations and BDC Capital\u2019s Climate Tech Fund, with participation from Xora Innovation, Capricorn Investment Group, Mitsui Kinzoku \u2013 SBI Material Innovation Fund, and LG Technology Ventures.<\/p>\n<p>&#8220;This funding comes at a pivotal time for Summit as we strengthen our strategic partnerships and transition from demonstration to full-scale commercial design,&#8221; said Amanda Hall, Founder and CEO. &#8220;We are ready to provide our industry-leading solution to lithium mining companies who want to maintain a strong focus on economics and environmental responsibility.&#8221;<\/p>\n<p>Summit\u2019s innovative direct lithium extraction (\u201cDLE\u201d) technology, denaLi\u2122, combines system and fully integrated water recycling. Data analytics and AI are harnessed for advanced process control that ensures reduced water use, maximum sorbent lifespan, maximum lithium recovery and leading on-stream reliability, driving levelized lithium costs down. By unlocking more resources economically, Summit\u2019s technology will strengthen international supply chains.<\/p>\n<p>Nobuyoshi Sogabe, General Manager at Mitsui Kinzoku, expressed enthusiasm about the investment: &#8220;We are committed to make an effort to achieve a lithium supply chain from brine by collaborating our advanced material synthesis, processing, and scaling technologies with Summit\u2019s innovative denaLi\u2122 system, thereby contributing to the realization of a sustainable society.&#8221;<\/p>\n<p>In the last six months, Summit has achieved key milestones, including commissioning a demonstration plant in Northern Chile, successful sorbent qualification results with a major lithium mining company, and launching their proprietary data analytics platform. With strong investor backing and a commitment to innovation and cost reduction, Summit is well-positioned to drive the future of sustainable lithium extraction.<\/p>\n<p>&#8220;The demand for electric vehicles will soon outpace growth in lithium supply. Summit&#8217;s technology addresses this challenge by optimizing lithium extraction from brine to produce high-quality lithium at a lower cost,&#8221; said Cheri Corbett, Partner at BDC Capital\u2019s Climate Tech Fund. &#8220;We need to get more competitive lithium to market if we are to meet the global demand for electric vehicles. That\u2019s why we\u2019re working with results-driven leaders like Amanda and her team. A great example of a growth-minded Canadian business, exactly the kind that BDC is designed to help get to the next level.&#8221;<\/p>\n<h2><strong>About Summit Nanotech Corporation<\/strong><\/h2>\n<p>Summit is a leading provider of direct lithium extraction (DLE) technology for the lithium mining industry. Founded in 2018 and headquartered in Calgary, Alberta, Summit has invented a patented sorbent, DLE process technology, and data analytics platform that, when combined, improves project economics by over $1,000 per tonne LCE and unlocks additional plant capacity compared to competing DLE technologies. Its technology selectively and efficiently captures lithium ions from brine which, after conversion, can be sold directly to a battery manufacturer. Summit partners with mining and oil and gas companies to accelerate and optimize their lithium resources.<\/p>\n<p>As the world shifts toward electrification, Summit is committed to building a cleaner, more responsible lithium supply chain for future generations.<\/p>\n<p>Learn more at summitnanotech.com.<\/p>\n<pre><strong>Media Contact:<\/strong>\r\n\r\nKristen Gray\r\nManager, Communications and Investor Relations\r\nmedia@summitnanotech.com<\/pre>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nSHP36jCeB0ZE2Xq_wbFRMaZPdCNUkRd2fevHliGlpE39sFpBpJaWjBiuxfU8jiegjIKKpur1LMxnZoacYG676aKXJS1zmAPUyOFxMvljlijaqJqXABg2J2CvuCIlDq9AYXgwcoKdFJp2i-0aVIQuX5iYh2zWr9P7XecyHAUR9YpLab7WERpvLqWYltodXLlUkhF3dadEbF7BjygqFdb9yLDC7xkJlOp-kHFJ6vwphH7vNaij1EfWbgWlMT7--Afc04FV6yJItkCsvzBcKvf_Q==\" target=\"_blank\" rel=\"noopener\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/20d7e71d-1bb4-4c64-b152-1b74dfa09897<\/a><\/p>\n<p><i><span style=\"font-weight: 400;\">AGENCIA EFE S.A.U.,S.M.E. shall not be liable for any information contained in this message and assumes no responsibility towards third parties in relation to its contents, being expressly exempt from any liability that the author may have in relation to the information in question. Agencia EFE reserves the right to distribute the press release on the news wire, or to publish it on EFE Comunica.<\/span><\/i><img \/><br \/>\n<img \/><\/p>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Statement issued by the company (Announcement) Summit Nanotech Corporation (\u201cSummit\u201d), a leader in sustainable lithium extraction technology, announced today that it has successfully closed US$25.5 million in funding led by [&hellip;]<\/p>\n","protected":false},"author":198164071,"featured_media":48434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[125518],"tags":[],"class_list":["post-154158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Summit Nanotech Corporation closes US$25.5M funding round<\/title>\n<meta name=\"description\" content=\"Summit Nanotech Corporation closes US$25.5M funding round to accelerate commercialization of their 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