What is Novalith?
Based in Australia, Novalith is an industrial technology company dedicated to revolutionizing the production of battery-grade lithium chemicals. The company's core innovation lies in a proprietary extraction process that is designed to be faster, more cost-effective, and significantly more environmentally friendly than conventional methods. By addressing the supply-side bottlenecks in the lithium market, Novalith provides a vital link in the value chain for electric vehicle manufacturers and energy storage providers. Its market position is defined by a commitment to reducing the carbon footprint of lithium refining, aligning with global mandates for cleaner industrial practices.
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 Investible, TDK Ventures, and Lowercarbon Capital
Key Investors in Novalith
Investible
Investible is an early-stage venture capital firm focused on supporting visionary tech entrepreneurs across the Asia-Pacific region, with a strong emphasis on climate tech and early-stage advantage.
Lowercarbon Capital
Lowercarbon Capital backs companies that focus on slashing CO2 emissions and developing technologies to heal the planet through carbon reduction.
TDK Ventures
TDK Ventures is the corporate venture capital arm of TDK Corporation, investing in early-stage startups that drive digital and energy transformation.
What's next for Novalith?
With the infusion of capital from its latest round, Novalith is expected to accelerate the commercialization of its lithium extraction technology. The strategic focus will likely shift toward scaling pilot operations and establishing industrial-grade facilities to meet the surging demand for high-purity lithium. As the company matures, it will likely prioritize operational efficiency and the expansion of its intellectual property portfolio to maintain a competitive edge in the global battery materials market. The involvement of specialized climate-focused investors suggests a long-term roadmap centered on sustainable industrial scaling and strategic partnerships within the energy sector.
See full Novalith company page
