Lowercarbon Capital and T. Rowe Price led a $150m Series B round in Lilac Solutions.

Lowercarbon Capital and T. Rowe Price led a $150m Series B round in Lilac Solutions, a lithium extraction technology company. Additional investors included Mercuria Energy Trading, Valor Equity Partners, Breakthrough Energy Ventures and The Engine. “Electric vehicles are a low-carbon success story, but the lithium raw materials needed for batteries have become a serious bottleneck. The lithium industry has been plagued by technical and environmental problems that have put the energy transition in jeopardy. Lilac’s technology solves these problems and will finally enable lithium production at a scale demanded for the energy transition. We are thrilled to build this supply chain with support from our investors," Dave Snydacker, Lilac Solutions CEO.