Insider Brief
- Summit Nanotech raised US$25.5 million from leading investors including Evok Innovations, BDC Capital’s Climate Tech Fund, Xora Innovation, Capricorn Investment Group, Mitsui Kinzoku, and LG Technology Ventures to scale its direct lithium extraction (DLE) technology.
- The company’s denaLi™ system integrates water recycling, AI-driven analytics, and process automation to reduce costs and environmental impact while maximizing lithium recovery and sorbent lifespan.
- With a demo plant launched in Northern Chile and strong investor support, Summit aims to transition to full-scale commercial deployment amid rising global demand for electric vehicle battery materials.
Summit Nanotech Secures $25.5 Million to Scale Direct Lithium Extraction
PRESS RELEASE – Summit Nanotech Corporation (“Summit”), a leader in sustainable direct lithium extraction technology, announced it has successfully closed US$25.5 million in funding led by Evok Innovations, BDC Capital’s Climate Tech Fund, Xora Innovation, and Capricorn Investment Group, with participation from Mitsui Kinzoku – SBI Material Innovation Fund and LG Technology Ventures.
“This funding comes at a pivotal time for Summit as we strengthen our strategic partnerships and transition from demonstration to full-scale commercial design,” said Amanda Hall, Founder and CEO. “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.”
How Summit’s Direct Lithium Extraction Technology Works
Summit’s innovative direct lithium extraction (“DLE”) technology, denaLi™, 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’s technology will strengthen international supply chains.
Nobuyoshi Sogabe, General Manager at Mitsui Kinzoku, expressed enthusiasm about the investment: “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’s innovative denaLi™ system, thereby contributing to the realization of a sustainable society.”
Key Milestones Accelerating Direct Lithium Extraction Deployment
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 direct lithium extraction.
“The demand for electric vehicles will soon outpace growth in lithium supply. Summit’s technology addresses this challenge by optimizing direct lithium extraction from brine to produce high-quality lithium at a lower cost,” said Cheri Corbett, Partner at BDC Capital’s Climate Tech Fund. “We need to get more competitive lithium to market if we are to meet the global demand for electric vehicles. That’s why we’re 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.”
