What is Novalith?
Based in Australia, Novalith is an industrial technology firm dedicated to revolutionizing the production of battery-grade lithium chemicals. By utilizing a proprietary, fast, and environmentally friendly extraction process, the company addresses the critical bottleneck in the lithium supply chain. Novalith's market position is defined by its commitment to reducing the carbon footprint of lithium processing, a vital requirement for the next generation of electric vehicle battery manufacturers. The company operates at the intersection of green chemistry and energy storage, providing a scalable solution to the surging global demand for high-purity lithium.
How much funding has Novalith raised?
Novalith has raised a total of $17.9M across 2 funding rounds:
Angel/Seed
$2.5M
Series A
$15.4M
Angel/Seed (2021): $2.5M with participation from Clean Energy Innovation Fund
Series A (2023): $15.4M led by Lowercarbon Capital, Investible, and TDK Ventures
Key Investors in Novalith
Lowercarbon Capital
Lowercarbon Capital backs kickass companies that make real money slashing CO2 emissions, sucking carbon out of the sky, and buying us time to heal the planet.
Investible
Investible is an early-stage venture capital firm focused on supporting visionary tech entrepreneurs across the Asia-Pacific region, specializing in climate tech and generalist startup growth.
TDK Ventures
TDK Ventures is the corporate venture capital arm of TDK Corporation, focusing on investing in early-stage startups that drive digital and energy transformation.
What's next for Novalith?
With the recent infusion of capital, Novalith is expected to focus on scaling its pilot operations and refining its chemical extraction technology for commercial deployment. The strategic backing from climate-focused venture firms suggests a roadmap centered on rapid industrialization and market penetration within the Asia-Pacific region and beyond. Future milestones will likely involve expanding production capacity and establishing long-term supply agreements with major battery manufacturers, further cementing the company's role in the global energy transition. The firm's ability to maintain its competitive edge will depend on its success in transitioning from laboratory-scale innovation to full-scale industrial output.
See full Novalith company page
