Mitra Chem Announces New Investment and Partnership with TechMet-Mercuria
- TechMet-Mercuria's investment and exclusive procurement role will support Mitra Chem's mission to develop iron-based cathode materials for EVs and energy storage solutions.
- GM's funding will help accelerate the development and commercialization of next-gen cathode materials for the western battery materials market.
- None.
TechMet-Mercuria Participated in the
TechMet-Mercuria will Serve as Exclusive Lithium Procurement Agent for Mitra Chem
"We are very excited about the opportunity to become a part of the Mitra Chem team. They are engaged in groundbreaking work for the EV world, and together, we are reducing dependence on critical mineral supply chains originating in
TMM is a joint venture incorporated in
"TechMet-Mercuria's involvement in our investment round, combined with their commitment to acting as our exclusive lithium procurement agent, is a testament to our strategic alignment and shared missions. Their proven expertise positions them as an ideal fit for Mitra Chem, and we are very excited about this promising collaboration," stated Vivas Kumar, CEO and Co-founder of Mitra Chem. "They will fit into the ecosystem coalition we are building around getting US-made IRA-compliant materials at scale with both upstream and downstream partnerships."
This announcement comes on the heels of Mitra Chem's completion of a
About TechMet
TechMet Limited is a leading technology metals investment company with a portfolio of assets that responsibly produce, process, and recycle the metals that are critical to the global energy transition and the electric vehicle revolution. Current assets in the TechMet portfolio include lithium extraction from both brine and hard rock sources, nickel and cobalt hydroxide production from laterite ores, vanadium chemical production from waste feedstocks, rare earth production and processing, tin and tungsten mining, lithium-ion battery recycling, and high performance cathode manufacturing. TechMet's major shareholders include the
About Mercuria
Established in 2004, Mercuria is one of the world's largest independent energy and commodity groups, revolutionizing the commodity value chain through technology, expertise, and low-carbon solutions. The company has firmly positioned itself as a leader in the energy transition, with over 50 percent of its new investments directed towards renewables and transitional energy. Mercuria has made substantial contributions to projects such as renewable power, energy storage, grid optimization, critical transition minerals recycling, and environmental products, showcasing its dedication to a sustainable future.
About Mitra Chem
Mitra Chem is building the first North American lithium-ion battery materials product company that shortens the lab-to-production timeline by over
About GM
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
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SOURCE Mitra Chem