The financing will fund the development and construction of a commercial pilot plant to demonstrate Tidal Metals' technology for extracting primary magnesium metal from seawater.
Tidal Metals' patented technology concentrates and extracts magnesium salt in seawater using efficient physical processes such as filtration, crystallization, and dehydration, followed by electrolysis which converts magnesium salt into metal. These processes use only seawater and electricity. Nothing is added to the water, and no waste is generated. When powered by electricity from renewable sources, Tidal Metals' magnesium will be fully sustainable, decarbonized, and virtually unlimited.
"After years of applied research and development, Tidal Metals now has the technology to fundamentally change the techno-economics of mineral recovery from seawater and brines,” said Dr Howard Yuh, CEO of Tidal Metals. “Our focus on magnesium metal was driven by the dire need to expand magnesium production, lower its cost, and provide a much-needed solution to decarbonize this industry. As the world faces water scarcity for billions, we also see huge benefits to reducing the cost of desalinated water through the coproduction of high value minerals such as magnesium."
"Magnesium is a critical metal for aerospace and defense and the lightweighting of transportation and mobility solutions,” said Earl Jones, chairman of Tidal Metals and a DCVC Operating Partner. “Tidal Metals can fundamentally change this industry by providing an assured supply of low-cost, carbon neutral magnesium metal that does not require terrestrial mining."
Tidal Metals, which was founded by three PhD scientists from MIT, Princeton and Wisconsin, recently advanced to the fourth and final round of the HeroX Solar Desalination Prize sponsored by the US Department of Energy. The DOE selected Tidal Metals for its potential to achieve pipeline parity for desalinated water by capturing the value of magnesium in seawater desalination brine. "We are thrilled two more teams have advanced as finalists in the Solar Desalination Prize, including Tidal Metals (formerly GreenBlu Inc),” said Shane Powers, prize lead from the US Department of Energy Solar Energy Technologies Office. "Tidal Metals' innovative work will encourage businesses to become zero-liquid discharge facilities, supporting water security and widespread, commercial use of solar-thermal desalination facilities. We look forward to what they will accomplish in the final phase of the competition."
