Watercycle Technologies secures significant funding to enhance mineral recovery, marking a critical step towards sustainable solutions.
- The Manchester-based company raised $5.6 million in a Series A round, led by notable investors Par Equity and GMCA.
- Watercycle’s innovative technology promises to address mineral supply risks while promoting a circular economy.
- Since its inception in 2020, the company has transitioned from concept to substantial production achievements.
- CEO Dr Seb Leaper and CTO Ahmed Abdelkarim highlight the strategic support and vision for future expansion.
Watercycle Technologies, a pioneering firm from Manchester, has successfully closed a $5.6 million Series A investment round. This significant financial boost comes from a consortium led by Par Equity, together with the Greater Manchester Combined Authority (GMCA), Aer Ventures, and the University of Manchester Innovation Factory. This funding is expected to accelerate the commercial deployment of Watercycle’s mineral recovery systems, which are crucial for sustainable and efficient mineral production.
The company, having spun out from the University of Manchester in 2020, has made remarkable advancements from an experimental stage to the practical implementation of a pilot-scale system. Recently, Watercycle achieved the production of over 100 kilograms of battery-grade lithium carbonate, underscoring the effectiveness of its technology.
The investment not only aids in the scaling up of technology but also focuses on the global supply chain’s growing mineral risks. Watercycle’s innovative systems aim to transform waste into valuable resources, thus fostering a circular economy. This approach is acknowledged internationally, with interest from various governments and businesses worldwide.
Dr Seb Leaper, co-founder and CEO, expressed enthusiasm about the support received, noting that the strategic positioning of their investors would help in rapid scaling. He emphasised the continued backing from existing supporters, including the University of Manchester and Aer Ventures, along with the new involvement of Par Equity and GMCA, as pivotal in strengthening the company’s mission.
Co-founder and CTO, Ahmed Abdelkarim, highlighted the upcoming steps towards ton-scale production of battery-grade minerals. He praised the dedication and skill of Watercycle’s team, attributing their achievements to the collaborative effort and forward-thinking approach.
Elizabeth Young, Investment Manager at Par Equity, mentioned the wealth of talent and innovation originating from Northern UK universities, with Watercycle as a prime example. She expressed pride in supporting the company’s growth through investment and connecting them with experts to advance their mission.
The Mayor of Greater Manchester, Andy Burnham, highlighted this investment as a testament to local innovation bolstering the low-carbon economy. He pointed out the creation of skilled jobs and the move towards a greener future as key benefits.
Watercycle Technologies is perfectly positioned to inspire new generations of startups in the region, demonstrating the potential of homegrown talent in addressing global challenges and securing essential mineral and water infrastructure.
Watercycle Technologies is advancing its efforts to sustainably address global mineral supply challenges with significant backing and innovative technology.
