Lithium tech firm KMX secures funding from Tetra Technologies: Report
This transaction is the latest in the burgeoning direct lithium extraction space that has generated investment worth billions of dollars from investors that are aiming to transform the way battery metal is produced.
KMX Technologies stated that it has secured funding from PureTerra Ventures and Tetra Technologies, which will enable the lithium technology developer to commercially launch products to process the EV battery metal, Reuters noted.
This transaction is the latest in the burgeoning direct lithium extraction space that has generated investment worth billions of dollars from investors that are aiming to transform the way battery metal is produced, Reuters reported.
Financial contours of the deal were not given, the newswire noted.
Reuters further noted that Tetra will enable KMX to construct and design a mobile water treatment system that it will utilise at its own operations, the publication further noted.
Tetra's finance head Elijio Serrano and PureTerra partner Alexander Crowell will join the KMX board, as part of this investment transaction, Reuters noted.
RELATED ARTICLES
Hyundai Mobis develops battery system with built-in fire extinguishing feature
The new system prevents heat from being transferred to adjacent cells and extinguishes a fire early by spraying an agent...
FORVIA and Smart Eye unveil in-car iris and facial biometric authentication
This world-first innovation not only enhances the user experience by enabling seamless and secure payments but also open...
Continental to discontinue tyre production at Malaysian plant
Following a business review to safeguard its competitiveness and business performance in the APAC region, where Malaysia...