Scaling a New Method for Lithium Production

We need lithium for electric cars, AI data centers, grid storage, drones, and robotics. However, getting it from the ground is an ongoing challenge.

Princeton Critical Minerals (PCM), a startup born out of research at Princeton University, raised $16 million in combined equity and non-dilutive funding to speed up lithium production. The financing includes an $11 million Series A round led by SOSV, alongside investors like the Grantham Foundation, Prospect Innovation, ASTOR Management AG, Black Forest Ventures, and the New Jersey Economic Development Authority (NJEDA). On top of that, the company secured over $5 million in grant funding from the National Science Foundation, ARPA-E, and NJEDA.

Speeding Up Production

More than half of the world’s lithium sits in subterranean or industrial saltwater pools called brines. Extracting it the traditional way takes massive amounts of land and long waiting periods for water to evaporate. Emerging direct extraction methods exist, but they often run into high energy costs and complex setups.

PCM bridges the gap by making existing workflows run smarter and faster. Its system combines enhanced evaporation, AI-driven pond monitoring, and selective crystallization. This lets producers boost their output while cutting down on energy use, extra chemicals, and operational complexity.

“Lithium demand has moved far beyond the demand for electric vehicle (EV) batteries. Battery storage, AI data centers, robotics, drones, and broader electrification are all converging on the same constrained critical mineral supply chain, lithium first and foremost,” Sean Zheng, co-founder and CEO of PCM, explained. “Energy storage is becoming foundational infrastructure for both the digital economy and energy security. Our novel technology system results in higher production, with lower cost in a shorter time.”

From South America to the U.S.

PCM recently moved its tech from the lab into active production by deploying its Lilypad™ system directly into commercial evaporation ponds in Chile.

Now, the team is field-testing two additional tools in Chile focused on speeding up evaporation and using AI for process improvements. At the same time, PCM is building out U.S. production capabilities and preparing for domestic commercial deployments. The fresh funding will help scale up manufacturing, roll out further sales, and keep advancing the core technology platform.