lithium-ion batteries
Bill Gates fund leads $20m investment in lithium start-up
The fund's investors include Jeff Bezos, Jack Ma and Michael Bloomberg
London — Breakthrough Energy Ventures, headed by Bill Gates, and MIT’s The Engine fund are leading an investment round of $20m for Lilac Solutions, a US start-up aimed at making the extraction of lithium less water-intensive and more sustainable.
As the world looks to cut carbon emissions, people are increasingly turning to lithium-ion batteries for solutions such as powering electric vehicles or storing renewable energy. While there’s enough lithium available to meet today’s demand, BloombergNEF expects the market could see a shortfall as soon as 2023 as demand for the metal grows fourfold over the next decade...
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