Argentine-focused lithium exploration and project development company Lake Resources NL announced that its plans for a low-cost, rapid production lithium mine with significantly high lithium recoveries have received a boost, following the results of a Phase 1 Engineering Study conducted by California-based Lilac Solutions, Inc.
Lilac Solutions, a lithium extraction company, announced the closing of its $800,000 seed financing round today, with investments from an undisclosed venture capital firm and angel investors.
Lilac Solutions has been awarded a Phase 1 Small Business Innovation Research (SBIR) grant from the Department of Energy. This funding will enable Lilac to expand its portfolio of unique ion exchange materials for lithium extraction.
Lilac Solutions was awarded a $15,000 prize for winning the Northwestern University Venture Challenge, Green Energy + Sustainability Track.