February 21, 2024

Energy Capital Group from Saudi Arabia Reveals Investment Plans in Pure Lithium, a Boston-based Company

Energy Capital Group

Energy Capital Group

Last Updated on November 9, 2023 by newseditor

Energy Capital Group recently announced its investment in Pure Lithium. This ground-breaking Boston-based business has created the ultimate lithium metal (Li-M) battery for the next generation while also revolutionizing the lithium supply chain. Pure Lithium, founded by MIT Professor Donald R. Sadoway and lithium expert Emilie Bodoin, is unique worldwide for completely controlling the whole battery supply chain.

Lithium metal batteries, which will eventually replace current lithium-ion (Li-ion) batteries, are seen as the energy storage technology of the future. Pure Lithium stands out because of its unique Brine to BatteryTM technology. This technology quickly taps into unconventional lithium sources, such as oilfield brines, to make battery-ready lithium metal electrodes at an affordable cost. Traditional lithium-ion battery production takes more than 500 days, but Pure Lithium can make a full Li-M battery, including Lithium, in just three days.

With Pure Lithium’s market-leading Li-M rechargeable battery, Graphite, nickel, cobalt, and manganese are not necessary. Its battery technology can replace Li-ion batteries because they will be lighter and have two to four times more energy per unit of weight than Li-ion batteries. The long-awaited goal of less than $50/kWh can also be reached using pure Lithium instead of Li-ion, which costs about $150/kWh.

Disrupting the Saudi Market: Energy Capital Group Backs Pure Lithium

In order to enable the Kingdom to surpass Li-ion and become a global leader in harnessing the power of Li-M, Pure Lithium’s objective in KSA is to establish a fully contained supply chain, implement its unique Brine to Battery TM process, and provide KSA with unmatched supply chain security.

Board member and well-known technology and mining entrepreneur Robert Friedland oversees Pure Lithium’s fundraising. Without a doubt, the company is growing in the region with the help of Energy Capital Group, which is facilitating negotiations with potential partners and investors in KSA.

Pure Lithium is a key part of the ECG’s plan to invest in new and disruptive technologies that can potentially change the energy industry. The investment also gives Energy Capital Group and Pure Lithium the chance to form a joint venture (JV) in the future. Due to its investment in the company, ECG is in a good position to help Pure Lithium expand and help the lithium and battery industries in the area.

According to Mr. Ali Alturki, founder and managing partner of ECG, the investment has the potential to disrupt the Saudi market significantly. He spoke about Pure Lithium’s cutting-edge technology, which he regarded as a significant advancement for the lithium and battery industries. He also expressed his excitement for the future prospects of the company.

The founder and CEO of Pure Lithium, Emilie Bodoin, expressed her excitement over ECG’s investment in the company. She said they understood the value and potential influence Pure Lithium could have on the Kingdom. According to Emilie, their technology aimed to liberate oilfield brines in order to produce a battery-ready electrode, eliminating 90% of the current costs. She also expressed excitement about enabling the Kingdom to make full use of its technology and creating the safest battery for the climate of the Kingdom.

Takeaways

Energy Capital Group’s investment in Pure Lithium, a Boston-based lithium metal battery company, signals a game-changer for the energy sector. Pure Lithium’s innovative technology and sustainable lithium production could revolutionize the Saudi market. This partnership opens doors for joint ventures and underlines ECG’s commitment to transforming the battery industry.

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