BMW: investment in lithium extraction
(CercleFinance.com) - BMW announced on Wednesday that it has invested in a company that has developed an innovative method for the efficient and sustainable extraction of lithium.
The German carmaker says that it has taken a stake in US start-up Lilac Solutions through its private equity arm BMW i Ventures.
Lilac Solutions has developed and patented an ion exchange technology that significantly reduces the amount of soil and fresh water needed to extract lithium from natural brines, areas of salt deposits in which this chemical element is found.
The investment comes as BMW expands its efforts in electromobility, with some 10 million electric vehicles to be produced by the group over the next ten years.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The German carmaker says that it has taken a stake in US start-up Lilac Solutions through its private equity arm BMW i Ventures.
Lilac Solutions has developed and patented an ion exchange technology that significantly reduces the amount of soil and fresh water needed to extract lithium from natural brines, areas of salt deposits in which this chemical element is found.
The investment comes as BMW expands its efforts in electromobility, with some 10 million electric vehicles to be produced by the group over the next ten years.
Copyright (c) 2021 CercleFinance.com. All rights reserved.