Rio Tinto-backed lithium tech startup set to raise second round of funds

Quick Summary:

MELBOURNE : A lithium technology startup backed by Rio Tinto expects to finalise a funding round in the next week to raise A$29 million ($19 million), even as the global lithium market struggles, its Melbourne-based CEO told Reuters.

"The availability of water in the regions where there are lithium mines is a major problem," he said.

The firm is currently owned by venture capital firm IP Group, Rio Tinto and Monash University, where its membrane technology was developed under Professor Huanting Wang.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: SingaporeArgentinaAustraliaCanadaChile

Topics: Brine Water Mcgill Pilot Market Rights Tinto Global Technology Electralith Lithium

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-25 @ 14:56:22 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 473 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23817327

View Article Analysis

About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 16 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 44 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

Frequently Asked Questions