Watercycle Technologies has successfully raised $5.6 million in a Series A funding round, marking a significant milestone in the company’s growth trajectory.
- The funding round was led by Par Equity, along with participation from Greater Manchester Combined Authority, Aer Ventures, and the University of Manchester Innovation Factory.
- Since its inception in 2020, Watercycle Technologies has transitioned from a research-based entity to a commercial pioneer in mineral recovery systems.
- The firm aims to mitigate mineral supply risks and promote a circular economy through innovative technology.
- This investment supports Watercycle’s mission to provide sustainable solutions for critical raw materials.
Watercycle Technologies has achieved a noteworthy accomplishment by closing a $5.6 million Series A funding round. This financial boost was spearheaded by Par Equity, a leader in investment, supported by the Greater Manchester Combined Authority, Aer Ventures, and the University of Manchester Innovation Factory. The successful funding marks an essential advancement for Watercycle Technologies, allowing further development of their groundbreaking technology.
Founded in 2020 as a spin-out from the University of Manchester, Watercycle Technologies has rapidly progressed from conducting experimental research to implementing a functional pilot-scale system. The result of this endeavor included producing over 100 kg of battery-grade lithium carbonate, a clear testament to its technological capability.
With this newfound financial backing, Watercycle Technologies is poised to enhance and deploy its mineral recovery systems at a commercial scale. The systems facilitate sustainable, low-cost, and high-yield mineral recovery, addressing the increasing concern over critical mineral supply. The company’s approach not only reduces dependency on traditional mineral extraction but also supports a circular economy where waste is transformed into valuable resources.
Globally, Watercycle Technologies has drawn attention from international governments and businesses, as their solutions present a viable option for sustainable raw material production. The technology is expected to significantly contribute to the green energy transition by providing crucial raw materials needed in various industries.
Dr. Seb Leaper, co-founder and CEO, expressed enthusiasm for the support from investors, including the University of Manchester and Aer Ventures, in addition to new investors like Par Equity and GMCA. He stated, “It’s fantastic to have backing from such an excellent syndicate of investors who are strategically positioned to help Watercycle rapidly scale.” His sentiments were echoed by Ahmed Abdelkarim, co-founder and CTO, who remarked on the dedication of their team in reaching this point.
Elizabeth Young, Investment Manager at Par Equity, acknowledged the innovation coming from northern UK universities, highlighting Watercycle Technologies as an inspiring example from the University of Manchester. She emphasized the significance of supporting foundational technologies to advance the UK’s innovative landscape.
Andy Burnham, Mayor of Greater Manchester, added that the investment in Watercycle Technologies exemplifies local efforts to cement Greater Manchester as a leader in low-carbon solutions, creating jobs and fostering a sustainable future.
This investment marks a pivotal step for Watercycle Technologies in advancing sustainable mineral recovery solutions.
