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About Lilac Solutions
Industries
Industrial & Manufacturing
Energy
Company Size
201-500
Company Stage
Series C
Total Funding
$368.6M
Headquarters
Oakland, California
Founded
2016
Overview
Lilac Solutions focuses on extracting lithium from brine resources, which are natural deposits of salt water. Their technology provides a more efficient and environmentally friendly method for lithium extraction, addressing the challenges faced by lithium brine developers. This is particularly important as the demand for lithium is expected to increase significantly due to the rise of electric vehicles (EVs). Unlike many competitors, Lilac Solutions emphasizes sustainability in its extraction processes, which helps to minimize environmental impact. The company's goal is to support the global transition to renewable energy by providing effective solutions for lithium production, thereby unlocking new resources essential for high-energy batteries used in EVs.
Simplify's Take
What believers are saying
- Lilac raised $145M in Series C funding to expand lithium extraction capabilities.
- The global shift to EVs is driving a 30-fold increase in lithium demand.
- U.S. incentives for domestic mineral production support Lilac's supply chain development.
What critics are saying
- Competition from established companies like SQM and Albemarle could hinder growth.
- Potential environmental regulations in Argentina and Chile may increase operational costs.
- Fluctuations in lithium prices could impact profitability and investment attractiveness.
What makes Lilac Solutions unique
- Lilac Solutions uses ion-exchange technology for efficient lithium extraction from brine.
- Their technology reduces environmental impact compared to traditional lithium extraction methods.
- Lilac's focus on brine resources addresses technical challenges in lithium production.
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Funding
Total Funding
$368.6M
Above
Industry Average
Funded Over
5 Rounds
Industry standards
Benefits
Stock options
Health, dental, & vision insurance
401k program
Flexible PTO
Paid parental leave
Daily catered lunch & on-site gym
Monthly phone stipend
Growth & Insights and Company News
6 month growth
↑ 4%1 year growth
↑ 2%2 year growth
↑ 14%Salt Lake City is emerging as a major business hub, with a surge in entrepreneurial activities and a booming startup scene. In March 2023, Lilac Solutions raised $145 million in a Series C funding round to support lithium extraction from Utah's Great Salt Lake, backed by Breakthrough Energy Ventures. The city's growth is supported by robust venture capital and state initiatives, despite challenges like inflation and high interest rates affecting some businesses.
Databricks' acquisition of Lilac enhances data quality for generation AI applications.
Lilac Solutions raises USD 145M Series C funding.
OAKLAND, Calif., February 12, 2024 — Lilac Solutions, a leader in lithium extraction technology, today announced the close of its Series C with $145 million of proceeds. This bring Lilac’s total capital raised to $315 million. The financing was led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures, with participation from all major shareholders including T. Rowe Price Association, Inc., Engine Ventures, Aventurine, Presidio Ventures (a Sumitomo Corporation Group Company), and BMW i Ventures amongst others, and Lilac welcomes Mitsubishi Corporation and The Nature Conservancy as new investors. The new capital will be used to support Lilac’s ambitious growth plans as the Company ramps up manufacturing capacity of its propriety ion-exchange (IX) material and commercial deployment at projects around the world.
Lilac has raised over $200M in funding and grants from backers that include the U.S. Department of Energy, Lowercarbon Capital, T. Rowe Price, Breakthrough Energy Ventures, PRIME Impact Fund, SK Inc. materials, BMW i Ventures, Presidio Ventures, and others.
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About Lilac Solutions
Industries
Industrial & Manufacturing
Energy
Company Size
201-500
Company Stage
Series C
Total Funding
$368.6M
Headquarters
Oakland, California
Founded
2016
There are no jobs for Lilac Solutions right now.
Find jobs on Simplify and start your career today
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