Law firm Addisons has advised Novalith Technologies on its AU$23million Series A funding round, led by Lowercarbon Capital and CEFC.
Novalith’s technology simplifies hard rock conversion to battery grade lithium chemicals (Lithium Carbonate & Lithium Hydroxide) using fewer process operations by using readily available carbon dioxide in place of expensive chemical reagents.
Novalith completed a AU$23m Series A funding round, led by VCs Lowercarbon Capital and CEFC. The capital raised will support Novalith’s plans to commercialise a green lithium chemicals production process to reduce the environmental impact of lithium production for use in batteries and related applications. The Series A funding follows a AU$2.5m seed funding round in October 2021.
The Addisons team advising Novalith was led by Managing Partner, Kieren Parker and supported by Senior Associate, Rebecca Dooley and Solicitor, Max Jamieson.
Addisons’ Managing Partner Kieren Parker said, “Congratulations to Founder, Steven Vassiloudis and Co-Founders Christiaan Jordaan and Dr Andrew Harris. Despite 2022 being a challenging environment for tech fundraisings generally, Novalith, by its mission to extract battery grade lithium in an environmentally friendly way, has demonstrated continuing investor support for companies that have a long-term focus on the world’s electric future.”
About Novalith: Novalith – Lithium Innovated