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SiTration Raises $11.8 Million for Critical Metals Recovery

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: SiTration, 2150, BHP, MIT

SiTration, a materials recovery company serving the mining and metals industries, announced it has raised $11.8 million in seed capital. The financing round was led by 2150 with participation from BHP Ventures, Extantia, and Orion Industrial Ventures. Previous investors Azolla Ventures and MIT-affiliated E14 Fund also participated in the oversubscribed round. The funding will be used to scale the company’s novel solution for the recovery of critical metals and minerals and to deploy pilot systems with commercial partners.

Founded as a spinoff from research conducted at MIT, SiTration is working to address the demand for critical materials needed to manufacture technologies that are key to the clean energy transition, including electric motors, wind turbines, and batteries. The company’s innovative solution lowers both the cost and the resource intensity of extracting and recycling materials, contributing to the overall push towards a circular economy.

Read more at PR Newswire