EELI Technology raises $2M to recover lithium from overlooked sources
What's the deal? EELI TechnologyDealroom has a profile for this one. Try Dealroom →, a Silicon Valley-based startup building modular systems to recover lithium and critical minerals, has raised $2 million in a pre-seed round. APY VenturesDealroom has a profile for this one. Try Dealroom → and İvedik GSYFDealroom has a profile for this one. Try Dealroom → co-led, with participation from Activate, Safar PartnersDealroom has a profile for this one. Try Dealroom →, JLL Foundation, Light Ray VenturesDealroom has a profile for this one. Try Dealroom →, Wolf Point Capital, E8 Climate Angels, Galata Business AngelsDealroom has a profile for this one. Try Dealroom →, O'Shaughnessy VenturesDealroom has a profile for this one. Try Dealroom →, the California Energy CommissionDealroom has a profile for this one. Try Dealroom →, the US Department of EnergyDealroom has a profile for this one. Try Dealroom →, and the National Science FoundationDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Founded in 2023 by Dr Mert Akın, EELI uses applied electrochemistry and advanced materials to extract lithium and critical minerals from low-concentration brines and industrial process streams that were previously uneconomical to tap. It says its chemical-free process can cut operating costs by up to 80% while tripling efficiency.
The company develops its technology through the Activate and Cyclotron Road programs at Lawrence Berkeley National Laboratory, and runs pilot production at a facility in Hayward, California.
What's the money for? EELI will use the round to accelerate commercialisation. Over the next 18 months, it plans to build commercial-scale pilot systems for chemical and energy customers in the US, Europe, and Turkey, deploy them at customer sites, and expand global production capacity.
"With the support of our investors, we will bring our vision of returning previously uneconomical lithium and critical mineral sources to production at commercial scale," said Akın, founder and chief executive officer.
Why now? The startup has already secured more than $1.25 million in grants from the DOE, NSF, and the California Energy Commission, a sign of institutional interest in domestic critical-mineral supply. The pre-seed round adds private capital to that public backing.
The signal: At $2 million, the round sits in roughly the 40th percentile by size for comparable deals — modest capital for a hardware-heavy climate play. But the mix of venture firms, angels, and government agencies reflects a broader push to secure lithium and critical minerals from sources conventional mining has ignored.
Read more: Swipeline
