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Element3, a company that specializes in extracting lithium from oil and gas wastewater, <a href="https://cms.mercomindia.com/element3-closes-seed-funding-lithium-from-oil-gas-wastewater/" target="_blank" rel="noopener">announced</a> that it has closed its seed investment round. The round was led by EIC Rose Rock and joined by leading oil and gas family offices and other strategic partners. The funding amount was undisclosed. The funding will enable Element3 to accelerate the development and testing of its patent-pending Direct Lithium Extraction technology and plans to deploy its technology in field operations by early 2024.
India-based solar module manufacturer Waaree Energies has <a href="https://www.mercomindia.com/waaree-raise-%e2%82%b930-billion-ipo" target="_blank" rel="noopener">filed</a> draft papers with the market regulator to raise ₹30 billion (~$361 million) in an initial public offering (IPO). The IPO will feature a fresh issue of 3.2 million shares and an offer for sale of 2.7 million shares by promoter shareholder Waaree Sustainable Finance, 450,000 shares by Chandurkar Investments, and 50,000 shares by Samir Surendra Shah, according to the draft red herring prospectus filed with Securities and Exchange Board of India. The shares have a face value of ₹10 (~$0.12).
India-based digital lending platform Revfin has <a href="https://www.mercomindia.com/revfin-funding-india-ev-ecosystem" target="_blank" rel="noopener">secured</a> ₹115 million (~$14 million) in the latest round of funding to expand financing for electric vehicles, charging systems, and batteries. Led by Omidyar Network’s $5 million investment, the Series B funding was joined by Asian Development Bank, Companion Capital, and existing investors Green Frontier Capital and Lighthouse Canton Nueva. This capital infusion is the company’s second significant investment in the last year. This funding brings Revfin’s total capital raised through debt and equity to ₹6.25 billion (~$75 million).
SinglePoint, a holding company providing renewable energy solutions and energy-efficient applications, <a href="https://singlepoint.com/singlepoint-announces-closing-of-4-million-public-offering-uplisting-to-cboe-global-markets-and-reverse-stock-split/" target="_blank" rel="noopener">announced</a> the closing of its underwritten public offering of 800,000 shares of common stock at a public offering price of $5 per share. The gross proceeds from the offering, before underwriting discounts and commissions, and estimated offering expenses payable by the company are expected to be $4 million. The shares began trading on the BZX Exchange, a division of Cboe Global Markets, under the ticker symbol “SING.” The company intends to use the net proceeds of the public offering for general corporate purposes.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-solar-exeger-secures-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Lithium Tech Firm Element3 Raises Seed Funding

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-lithium-tech-firm-element3-raises-seed-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Element3, a company that specializes in extracting lithium from oil and gas wastewater, <a href="https://mercomcapital.com/element3-closes-seed-funding-lithium-from-oil-gas-wastewater/" target="_blank" rel="noopener">announced</a> that it has closed its seed investment round. The round was led by EIC Rose Rock and joined by leading oil and gas family offices and other strategic partners. The funding amount was undisclosed. The funding will enable Element3 to accelerate the development and testing of its patent-pending Direct Lithium Extraction technology, and plans to deploy its technology in field operations by early 2024.
India-based solar module manufacturer Waaree Energies has <a href="https://www.mercomindia.com/waaree-raise-%e2%82%b930-billion-ipo" target="_blank" rel="noopener">filed</a> draft papers with the market regulator to raise ₹30 billion (~$361 million) in an initial public offering (IPO). The IPO will feature a fresh issue of 3.2 million shares and an offer for sale of 2.7 million shares by promoter shareholder Waaree Sustainable Finance, 450,000 shares by Chandurkar Investments, and 50,000 shares by Samir Surendra Shah, according to the draft red herring prospectus filed with Securities and Exchange Board of India. The shares have a face value of ₹10 (~$0.12).
India-based digital lending platform Revfin has <a href="https://www.mercomindia.com/revfin-funding-india-ev-ecosystem" target="_blank" rel="noopener">secured</a> ₹115 million (~$14 million) in the latest round of funding to expand financing for electric vehicles, charging systems, and batteries. Led by Omidyar Network’s $5 million investment, the Series B funding was joined by Asian Development Bank, Companion Capital, and existing investors Green Frontier Capital and Lighthouse Canton Nueva. This capital infusion is the company’s second significant investment in the last year. This funding brings Revfin’s total capital raised through debt and equity to ₹6.25 billion (~$75 million).
SinglePoint, a holding company providing renewable energy solutions and energy-efficient applications, <a href="https://singlepoint.com/singlepoint-announces-closing-of-4-million-public-offering-uplisting-to-cboe-global-markets-and-reverse-stock-split/" target="_blank" rel="noopener">announced</a> the closing of its underwritten public offering of 800,000 shares of common stock at a public offering price of $5 per share. The gross proceeds from the offering, before underwriting discounts and commissions, and estimated offering expenses payable by the company are expected to be $4 million. The shares began trading on the BZX Exchange, a division of Cboe Global Markets, under the ticker symbol “SING.” The company intends to use the net proceeds of the public offering for general corporate purposes.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-exeger-secures-38-4-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.element3.io/" target="_blank" rel="noopener">Element3</a>, a company specializing in extracting lithium from oil and gas wastewater, announced that it has closed its seed investment round. Major investors include EIC Rose Rock, other oil and gas family offices, and other strategic partners. The financial terms were not disclosed.
The funding will enable Element3 to accelerate the development and testing of its patent-pending Direct Lithium Extraction (DLE) technology, and plans to deploy its technology in field operations by early 2024.
“Extracting lithium from oil and gas wastewater could supply nearly half of the approximately 725,000 tons of lithium U.S. EV battery gigafactories will need annually by 2030,” said Andrew Lackner, Managing Director of Energy Innovation Capital. “EIC Rose Rock and our corporate partners are excited to invest in, and partner with, Element3 to support the demonstration of the economic viability of Element3’s pioneering DLE technology in 2024.”
According to the company, the U.S. oil and gas industry generates about one trillion gallons of wastewater annually, which is estimated to contain 350,000 tons of lithium. Element3’s technology is said to transform this industrial waste into a valuable domestic commodity while reducing water consumption and greenhouse gas emissions.
“Element3 is poised to reshape the lithium industry, marking a significant step toward a more sustainable and environmentally responsible future,” commented Hood Whitson, Founder and Chief Executive Officer of Element3. “This strategic funding underscores a collective recognition of the ever-evolving energy landscape and the commitment of forward-thinking investors to embrace a sustainable future.”
According to Mercom’s 9M And Q3 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report </a>for Storage &amp; Smart Grid, VC funding in Energy Storage in the first nine months (9M) 2023 was up by 115% YoY with $8.6 billion in 68 deals compared to $4 billion in 74 deals in 9M 2022.

Element3 Closes Seed Funding to Extract Lithium from Oil and Gas Wastewater

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