• Watercycle Technologies raised USD 5.6 million in Series A funding to scale its sustainable mineral recovery technology.
• The company has produced over 100 kg of battery-grade lithium carbonate and is expanding into desalination and brine mineral recovery.
• Backed by an Innovate UK grant and a strategic investor syndicate, Watercycle is poised for growth in the critical minerals sector.

Watercycle Technologies announced the closure of a USD 5.6 million Series A investment round led by Par Equity as part of a syndicate with Greater Manchester Combined Authority (GMCA), Aer Ventures and the University of Manchester Innovation Factory, according to a company statement.

Scaling Sustainable Mineral Recovery Systems

This investment will enable Watercycle to rapidly scale up and commercially deploy its technology to deliver sustainable, low-cost, high-yield mineral recovery systems.

The company was co-founded by the Egyptian scientist and entrepreneur, Ahmed Abdelkarim, a recognized expert in water treatment technologies. He earned his PhD from the University of Manchester in 2018.

He has led numerous pioneering projects at Watercycle, advancing the field of mineral extraction.

International Recognition

So far, Watercycle’s mineral recovery systems have received international traction from government bodies and businesses globally, targeting brine mining and battery recycling applications.

Seb Leaper, co-founder and CEO also commented: ”It’s fantastic to have backing from such an excellent syndicate of investors who are strategically helping Watercycle rapidly scale.

“With the continued support of our initial backers, the University of Manchester and Aer Ventures along with new financial support provided by deep-tech veterans Par Equity and local champions, GMCA.

“Watercycle is in a stronger position than ever to deliver on its mission to provide the world with a sustainable supply of critical raw materials without which there is no sustainable future.’’

Major Progress and Achievements

Since 2020, the company has made remarkable progress. The progress expands from experimental conception to the successful implementation and operation of a pilot-scale system. This results in the recent production of over 100 kg of battery-grade lithium carbonate.

Additionally, this development work received funding from a combination of equity investment and highly competitive grant funding.

The new funds raised will be pivotal in advancing the development of new products. It is also strengthening existing commercial relationships and forging new partnerships.

This round has also attracted an Innovate UK Investor Partnership grant, which recognises the company’s technology. It will fuel the company’s continued progress with plans to expand the existing team.

Abdelkarim has contributed to 12 patent applications and helped secure over USD 8 million in funding for the company within four years.

Ahmed Abdelkarim, Co-Founder and CTO of Watercycle, commented: “We are excited to propel the company towards mass production of critical minerals. Our achievements to date are a testament to the dedication, brilliance, and leadership of our exceptional team.”

Abdelkarim also noted that Watercycle is currently in negotiations with various entities within the MENA region to implement their latest innovations in seawater desalination.

Futhermore these efforts aim to eliminate the brine disposal problem that desalination faces by selectively recovering the minerals that the brine contains and selling them into a range of strategic industries.

Innovate UK Grant and Future Plans

Moreover, Elizabeth Young, Investment Manager at Par Equity said: “There is an incredible wealth of talent and innovation emerging from universities in the North of the UK. Watercycle Technologies is serving as a prime example from the University of Manchester.

“We’re proud to support WT’s growth through investment and by connecting the business with experts from our network.

Meanwhile, Mayor of Greater Manchester, Andy Burnham, said: “This investment is a great example of how we’re supporting local innovation to strengthen Greater Manchester’s position as a leader in the low-carbon economy.

Par Equity’s Support

Paul Dudley, Managing Partner from Aer Ventures wrote: “We are delighted to have played a role in supporting Watercycle over the past couple of years.

“In this time the business has developed its cutting-edge technologies rapidly and can now provide important solutions to a range of customers in the Metals sector. “

The goal of the company’s proprietary technology is twofold: mitigating the growing critical mineral supply risks.