ADIONICS, the cleantech pioneer in eco-friendly lithium extraction, secures $27 million in Series B funding

PARIS, Nov. 29, 2023 /PRNewswire/ -- With its unique eco-friendly liquid-liquid direct lithium extraction (DLE) process, ADIONICS has once again captivated investors, raising $27 million in its Series B funding round. Adionics' historical stakeholders took part in this operation, along with newcomer strategic investor SQM, a mining leader in lithium production from brines. This move is supported by returning investors, including Bpifrance, via the PSIM funds managed on behalf of the French state as part of the France 2030 program, Supernova Invest, Céleste Management and Ovive, who are reaffirming their trust in Adionics.

Founded in 2012, Adionics has been developing a DLE process that improves global lithium production. This technology not only increases the productivity of lithium mining but also streamlines the associated value chain and allows a significant reduction of the overall environmental footprint of Li-ion battery manufacturing and the recycling industry. Adionics is confirming its ambition to become the leader in DLE technologies.

"We are delighted to welcome SQM as a strategic investor in Adionics. This partnership marks a significant milestone in our development and is a testimonial to the quality of Adionics' technology and the dedication of our team. With SQM's investment, we are ready to execute the exciting phase of industrialization. Our three pre-industrial pilots are already making an impact and we look forward to scaling-up to serve an even broader global customer base. Importantly, this partnership with SQM, leader in lithium production from brines, enhances our capabilities while we maintain our independence in the marketplace. This autonomy is critical as we continue to partner with other mining companies and innovate in the lithium extraction industry to be the DLE leader.", - Gabriel Toffani, Adionics CEO.

"Our partnership with Adionics is a strategic step in the development of our «Salar Futuro" project. We look forward to working together with the Adionics team on further development and industrial testing of their breakthrough technology, which has already demonstrated outstanding results in lithium yield and purity" – Carlos Diaz, SQM Executive-VP Lithium.

From R&D Excellence to Global Industrialization

Adionics has led a successful deployment of pre-industrial size pilots with major actors of the Lithium world and checked, in real conditions, the validity of its process, as well as the purity of lithium salt directly extracted from brine (up to 99 % of Li purity & yield). With the completion of its Series B financing, Adionics is now ready to make the critical leap from an R&D-focused company to an industrialization-focused company. This shift is not just a new chapter in the business development, but also the embodiment of the company's core mission.

The secured funding will fuel Adionics' ambitious strategy, including:

• Commercial expansion - with a particular focus on the lithium triangle of Argentina, Chile and Bolivia, as well as extending our reach to North America and Europe.
• R&D continuation - to ensure continuous improvement in product quality and environmental performance. This increased focus on innovation is designed to further reduce energy and freshwater consumption, underscoring the company's commitment to sustainability.
• Workforce growth - Growing the team from 50 to 80 employees by 2024 to complement its R&D efforts in new applications and to go further. Adionics is embarking on a robust hiring plan to strengthen its business and project development capabilities to fulfill the requirements of the industrialization phase.

Revolutionizing Global Mining Performance

Adionics is transforming the mining industry with a technology that significantly improves the operational efficiency and promotes environmental sustainability. The company's proprietary process can recover up to 99% of lithium chloride from brines - a leap forward in resource valorization.

Adionics remains committed to an environmentally friendly process, with following guidelines:

• A significantly lower freshwater consumption.
• A lower energy requirement.
• A lithium depletion of brine without any other change in the brine composition.
• A smaller environmental footprint for extraction facilities.

Looking to the future, Adionics plans to expand the reach of its technology into additional applications over the next three years.

ABOUT ADIONICS

ADIONICS is at the forefront of lithium extraction advancements, offering a revolutionary approach that meets the needs of today's mining professionals. Our company specializes in a closed-loop, liquid-liquid extraction process that efficiently and sustainably recovers lithium salts from various brines, including continental, geothermal or produced water. What sets our technology apart is the use of our proprietary Flionex^® system, a highly customized fluid that acts like a key to unlock and extract lithium without the need for traditional reagents. This patented process not only achieves high lithium recovery rates but does so with minimal water usage and environmental impact, marking a new era in resource recovery. Our commitment to reagent-free, sustainable technology ensures a cleaner, greener approach to lithium mining.

About SQM

SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets.

Contact press: Khloé Lewis - [email protected]

SOURCE Adionics