Aqualung Carbon Capture Successfully Closes Phase 1 2025 Financing Round
Article content
Article content
Article content
OSLO, Norway — Aqualung Carbon Capture ('Aqualung'), a pioneering leader in membrane carbon dioxide (CO2) capture and separation technology, is excited to announce the successful first close of its funding round. This round is backed by Aqualung's Joint Development Agreement (JDA) partner, one of the largest global membrane manufacturers, along with other strategic investors including Liquid Gas Equipment Ltd (LGE), wholly owned by Babcock International Group, Tupras Ventures, and Delek Innovation, the CVC of Delek (US) Holdings.
Article content
This capital raise represents a significant milestone in Aqualung's mission to establish itself as a leading carbon capture company. Over the past four years, Aqualung's pilot units have successfully demonstrated its innovative non-pressurized facilitated transport membrane solution to be cost effective and applicable across various industries, including natural gas processing, lime kilns, and waste-to-energy applications. These units will continue to underpin the commercial roll out of the large-scale Aqualung solution.
Article content
As Aqualung embarks on the next phase of its journey, the focus will shift towards commercial upscaling in collaboration with its partners and stakeholders. Through this transaction, Aqualung has secured their commercial scale development and manufacturing partner, enabling the company to concentrate on its core thin film coating intellectual property (IP) and project development, delivering on Aqualung's substantial commercial pipeline. The JDA partner's proven ability to significantly enhance manufacturing capacity while maintaining high quality at a low cost will be instrumental in Aqualung's growth trajectory.
Article content
Andrew Robbins, CEO of Aqualung, expressed his enthusiasm regarding the funding milestone: 'We are extremely excited about closing phase 1 of our equity round with four industrial investors and partners. Our unique technology has always required a large-scale membrane manufacturer, and we are humbled to be joined by such a world-class partner. Our mission to become the low-cost solution to the industry has taken a key step forward and we are looking forward to delivering on our new partnerships.'
Article content
Aqualung is committed to partnering with industrial leaders to develop a comprehensive carbon capture to sequestration solution that is economically viable across a range of industries. With this funding, Aqualung is poised to make significant advancements in the carbon capture sector. Phase 2 of this funding round is expected to be completed by mid-2025.
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
22-05-2025
- Globe and Mail
E3 Lithium and Pure Lithium Report Results from Phase 1 of the Lithium Metal Battery Joint Development Agreement
E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to announce the initial results from the battery cells manufactured under the Joint Development Agreement with Pure Lithium Corporation ("Pure Lithium'), using E3 Lithium's brines and DLE technology and Pure Lithium's innovative extraction and battery technology. As previously announced on March 13, 2025, several variations of lithium chloride concentrate that reflect specific locations along the E3 Lithium process flow sheet within the commercial facility design were used to make lithium metal anodes at Pure Lithium's Boston facility. The lithium from the E3 concentrated lithium chloride was electrodeposited as pure lithium metal onto a copper substrate, creating a complete, battery ready anode. These anodes were then assembled by Pure Lithium into batteries, and their electrochemical performance was evaluated in full cells. Notable results include: Lithium Metal Purity: The various E3 brine streams all achieved a very high purity level, > 99.9% pure lithium metal as tested by ICP-OES analysis. Cell Performance (Life Cycle): This tests for the number of charge and discharge cycles the battery achieves while retaining 80% of its capacity. All cells achieved over 500 cycles to date. Charge and Discharge Rates: This tests for the duration of a charge and discharge. These tests were conducted at a 1C:1D ratio, one hour charge time and one hour discharge time. The results of this study concluded that an easily producible version of E3's lithium concentrate provided the most cost-effective feedstock for use in Pure Lithium's batteries. It also demonstrated the robustness of Pure Lithium's process, showing no performance differences between batteries made using lithium chloride from E3's Leduc Brines, and those made from Pure Lithium's standard sources. The two companies continue to collaborate on the development and planning of an integrated process that can deliver the highest purity lithium metal anodes at the lowest possible cost. 'These results confirm that E3's lithium concentrate can produce battery-ready lithium metal anodes using Pure Lithium's technology,' said Chris Doornbos, President and CEO of E3 Lithium. "The Pure Lithium team has worked very hard in making these batteries and confirming the performance of our lithium. We are very encouraged by the results, and I am excited by the prospect of developing a local lithium battery supply chain in collaboration with Pure Lithium.' 'I am delighted to reinvent the lithium supply chain with E3 Lithium. We not only produced pure lithium metal anodes from unconventional sources of lithium using a newly invented technology but also validated their performance by cycling them in over 100 batteries. Rigorous electrochemical testing of battery materials is imperative, and to get such great results consistently, using a technology that was specifically developed to be cost effective, is truly exciting,' said Emilie Bodoin, Founder, Chairman & CEO of Pure Lithium. ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President & CEO E3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.9 million tonnes LCE Inferred mineral resources 2 in Alberta and 2.5 million tonnes LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. E3 Lithium's goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world. 1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's website ( and SEDAR+ ( 2: The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9 Mt LCE (inferred) and is available on the E3 Lithium's website ( and SEDAR+ ( 3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium's website ( and SEDAR+ ( About Pure Lithium Pure Lithium is a disruptive Boston-based lithium metal battery technology company led by inventor and lithium expert, CEO Emilie Bodoin, and world-renowned battery and metallurgical expert, MIT Emeritus Professor Donald R. Sadoway, as full-time CSO. The Company's novel Brine to Battery™ technology combines metal extraction and anode production, unlocking unconventional sources of lithium. The resulting pure lithium metal anode is the core component of our lithium metal vanadium oxide battery, a step-change improvement over today's lithium-ion technology in cell performance, cost, and safety. Additionally, the battery is free of graphite, cobalt, nickel, and manganese. For more information, visit or email news@ Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the potential for delivery of lithium to market; expected timing for releasing battery cell performance results; expectations regarding results of the upcoming performance tests; timing for completion of the testing program; and the anticipated benefits of the foregoing. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company's expectations; that the current exploration, development, environmental and other objectives concerning the Clearwater Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Clearwater Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the testing program will be delivered in a timely manner consistent with the Company's projected timelines; and that the results will be in line with management's expectations. All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; risks related to the results of the testing program not being in delivered in a timely manner and/or not being in line with management's expectations; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Cision Canada
29-04-2025
- Cision Canada
LiNova Energy and Saft Advance to Stage 2 in Joint Development Agreement
MONROVIA, Calif., April 29, 2025 /CNW/ - LiNova Energy Inc. and Saft, a subsidiary of TotalEnergies, are pleased to announce that they have advanced to Stage 2 of the Joint Development Agreement. This advancement marks a significant milestone in their collaborative effort to commercialize LiNova's innovative polymer cathode battery technology in Saft's key markets of aerospace, defense and rail. Building on a Strong Foundation In April 2024, LiNova Energy secured $15.8 million in Series A financing, with Saft among the key investors, which also included Chevron Technology Ventures and which was led by Catalus Capital. This investment financed the continued development of LiNova's battery technology and facilitated the initial phase of the joint development agreement, which focused on integrating LiNova's metal-free polymer cathode technology into Saft's battery systems. The successful completion of Stage 1 of the Joint Development Agreement has paved the way for Phase 2, focusing on scaling cell size, conducting comprehensive testing to ensure the technology meets industry standards, and the production of sample cells. A Collaboration Advancing Sustainable Energy Solutions LiNova's polymer cathode technology eliminates the need for nickel and cobalt, offering a sustainable and cost-effective alternative to traditional cathodes. By leveraging abundant and readily available materials, this innovation addresses supply chain challenges and reduces environmental impact. Saft's expertise in battery manufacturing and market presence, combined with LiNova's groundbreaking technology, positions the partnership to deliver high-energy, safe and sustainable battery solutions in Saft's key markets. Leadership Perspectives "Advancing to Stage 2 with Saft signifies a pivotal moment for LiNova," said Michael Nagus, CEO of LiNova Energy. "Our combined efforts are set to bring our sustainable polymer cathode technology to market, addressing critical needs in Saft's key markets, and in energy storage and beyond." Cedric Duclos, CEO of Saft, added, "Innovation and sustainability are part of Saft's DNA. For over a century, our R&D teams have worked to advance battery technologies, often in collaboration with other industry experts. Our collaboration with LiNova Energy in scaling up its disruptive polymer cathode technology is a significant advancement and will ultimately benefit Saft's customers in the aerospace, defense and rail sectors".
National Post
24-04-2025
- National Post
Aqualung Carbon Capture Successfully Closes Phase 1 2025 Financing Round
Article content Article content Article content OSLO, Norway — Aqualung Carbon Capture ('Aqualung'), a pioneering leader in membrane carbon dioxide (CO2) capture and separation technology, is excited to announce the successful first close of its funding round. This round is backed by Aqualung's Joint Development Agreement (JDA) partner, one of the largest global membrane manufacturers, along with other strategic investors including Liquid Gas Equipment Ltd (LGE), wholly owned by Babcock International Group, Tupras Ventures, and Delek Innovation, the CVC of Delek (US) Holdings. Article content This capital raise represents a significant milestone in Aqualung's mission to establish itself as a leading carbon capture company. Over the past four years, Aqualung's pilot units have successfully demonstrated its innovative non-pressurized facilitated transport membrane solution to be cost effective and applicable across various industries, including natural gas processing, lime kilns, and waste-to-energy applications. These units will continue to underpin the commercial roll out of the large-scale Aqualung solution. Article content As Aqualung embarks on the next phase of its journey, the focus will shift towards commercial upscaling in collaboration with its partners and stakeholders. Through this transaction, Aqualung has secured their commercial scale development and manufacturing partner, enabling the company to concentrate on its core thin film coating intellectual property (IP) and project development, delivering on Aqualung's substantial commercial pipeline. The JDA partner's proven ability to significantly enhance manufacturing capacity while maintaining high quality at a low cost will be instrumental in Aqualung's growth trajectory. Article content Andrew Robbins, CEO of Aqualung, expressed his enthusiasm regarding the funding milestone: 'We are extremely excited about closing phase 1 of our equity round with four industrial investors and partners. Our unique technology has always required a large-scale membrane manufacturer, and we are humbled to be joined by such a world-class partner. Our mission to become the low-cost solution to the industry has taken a key step forward and we are looking forward to delivering on our new partnerships.' Article content Aqualung is committed to partnering with industrial leaders to develop a comprehensive carbon capture to sequestration solution that is economically viable across a range of industries. With this funding, Aqualung is poised to make significant advancements in the carbon capture sector. Phase 2 of this funding round is expected to be completed by mid-2025. Article content Article content Article content
