Egyptian-Founded Watercycle Technologies Closes $5.6M Series A Round
TLDR
- Watercycle Technologies secures $5.6 million in Series A funding round led by Par Equity and supported by GMCA, Aer Ventures, and University of Manchester Innovation Factory.
- Co-founded by Dr. Ahmed Abdelkarim, the company aims to scale sustainable mineral recovery systems for brine mining and battery recycling applications.
- Technology addresses critical mineral supply risks, promotes circular economy, and has produced over 100 kg of battery-grade lithium carbonate since 2020 spin-out from University of Manchester.
Watercycle Technologies has secured $5.6 million in a Series A funding round led by Par Equity, with participation from Greater Manchester Combined Authority (GMCA), Aer Ventures, and the University of Manchester Innovation Factory.
Co-founded by Egyptian scientist and entrepreneur, Dr. Ahmed Abdelkarim, the company aims to scale its sustainable, low-cost mineral recovery systems for applications in brine mining and battery recycling.
Watercycle’s technology addresses critical mineral supply risks and promotes a circular economy by turning waste into valuable materials, key for the green energy transition. Since its 2020 spin-out from the University of Manchester, the company has produced over 100 kg of battery-grade lithium carbonate. The new funding, including a grant from Innovate UK, will support product development, expand the team, and foster new commercial partnerships.
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Points clés à retenir
This investment round positions Watercycle to scale its operations in response to growing demand for critical minerals, vital for the energy transition. The company's innovation offers potential solutions for global supply challenges, especially in sectors such as battery recycling and seawater desalination. Their technology could reshape the circular economy, ensuring a sustainable future while addressing environmental concerns. The strong backing from investors highlights the importance of supporting deep-tech ventures in addressing climate challenges.
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