- Summit Nanotech Corporation announced the closure of a US$25.5 million funding round aimed at accelerating the commercialization of its direct lithium extraction technology. - The funding was led by Evok Innovations and BDC Capital’s Climate Tech Fund, with participation from several other investors. - CEO Amanda Hall stated that this funding is pivotal as they strengthen strategic partnerships and move towards full-scale commercial design. - Summit’s direct lithium extraction technology, denaLi, integrates system and water recycling while utilizing data analytics and AI for efficient process control. - The technology aims to reduce water use, extend sorbent lifespan, maximize lithium recovery, and enhance overall reliability, thereby lowering lithium production costs. - Nobuyoshi Sogabe from Mitsui Kinzoku expressed commitment to collaborating with Summit to establish a sustainable lithium supply chain. - Over the past six months, Summit has commissioned a demonstration plant in Northern Chile and achieved successful sorbent qualification with a major lithium mining company. - Summit is positioned to lead sustainable lithium extraction in response to the increasing demand for electric vehicles and their need for high-quality lithium. - Amanda Hall's leadership and the company's innovative approach are supported by strong investor backing aimed at optimizing lithium extraction processes. - Founded in 2018, Summit provides patented sorbent and technology that significantly improves project economics and plant capacity in lithium mining.

Summit Nanotech Corporation Closes US$25.5M Funding Round to Accelerate Commercialization of their Direct Lithium Extraction Technology:


CALGARY, Alberta, March 18, 2025 (GLOBE NEWSWIRE) -- Summit Nanotech Corporation (“Summit”), a leader in sustainable lithium extraction technology, announced today that it has successfully closed US$25.5 million in funding led by Evok Innovations and BDC Capital’s Climate Tech Fund, with participation from Xora Innovation, Capricorn Investment Group, 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."

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."

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 lithium extraction.

"The demand for electric vehicles will soon outpace growth in lithium supply. Summit's technology addresses this challenge by optimizing 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."

About Summit Nanotech Corporation

Summit is a leading provider of direct lithium extraction (DLE) technology for the lithium mining industry. Founded in 2018 and headquartered in Calgary, Alberta, Summit has invented a patented sorbent, DLE process technology, and data analytics platform that, when combined, improves project economics by over $1,000 per tonne LCE and unlocks additional plant capacity compared to competing DLE technologies. Its technology selectively and efficiently captures lithium ions from brine which, after conversion, can be sold directly to a battery manufacturer. Summit partners with mining and oil and gas companies to accelerate and optimize their lithium resources.

As the world shifts toward electrification, Summit is committed to building a cleaner, more responsible lithium supply chain for future generations.

Learn more at summitnanotech.com.

Media Contact:

Kristen GrayManager, Communications and Investor Relations

media@summitnanotech.com