Watercycle Technologies

Investor: DRIVE35 Scale Up Fund

Watercycle Technologies, a University of Manchester spinout focused on mineral recovery and water treatment systems, has secured £3 million in funding from the DRIVE35 Scale Up Fund. This investment will support a £6 million project to establish a demonstration-scale manufacturing line for recovering and refining lithium from waste streams in the UK, crucial for electric vehicle battery production.Summary of transaction details:Value: £3 millionSector: DeepTech & AI, ClimateTechAdvisor: N/AKey Entities: Target: Watercycle Technologies; Lead Investor: DRIVE35 Scale Up FundLocation: UKNote: This funding is designed to significantly scale Watercycle Technologies' innovative process for domestic lithium production, addressing the UK's reliance on imported critical minerals and bolstering its net-zero and electric vehicle battery supply chain ambitions.

Investor: Greater Manchester Combined Authority (GMCA), Par Equity, Aer Ventures, University of Manchester Innovation Factory