Monash spinout ElectraLith named Top Innovator by World Economic Forum
Charlie McGill, ElectraLith CEO, in the Monash Innovation Labs
The World Economic Forum has selected Monash spinout ElectraLith as a Top Innovator in the Mining the Unmined Challenge.
ElectraLith’s technology, based on Monash University research, can produce battery grade lithium hydroxide from a range of lithium sources using no water and no chemicals.
The World Economic Forum selected ElectraLith’s Direct Lithium Extraction and Refining (DLE-R) technology from a global field, as one of the most promising solutions driving progress towards the UN’s Sustainable Development Goals.
Based in the Monash Technology Precinct within the collaborative spaces of the Monash Innovation Labs, ElectraLith has leveraged student talent, research connections, and accessed facilities as a springboard for its next stage of growth.
ElectraLith’s proprietary DLE-R technology is based on revolutionary work conducted at Monash University by Professor Huanting Wang, Sir John Monash Distinguished Professor and Australian Laureate Fellow within the Faculty of Engineering.
“ElectraLith, spun out of Monash University only three years ago, is unlocking lithium’s full potential to address climate change on a global scale,” said Professor Robyn Ward, Deputy Vice-Chancellor (Research and Enterprise) and Senior Vice-President.
“This recognition by the World Economic Forum demonstrates the power of Monash University research in addressing some of the greatest challenges of our age, for the benefit of humanity.”
Selection as a Top Innovator means ElectraLith will become part of UpLink, the World Economic Forum’s early-stage innovation initiative in collaboration with Prospect Innovation. UpLink enables purpose-driven, early-stage entrepreneurs to scale their business for the markets and economies that are essential for a net-zero, nature-positive, equitable future.
The World Economic Forum and UpLink will help scale ElectraLith’s impact through a three-year curated Engagement Programme of high-profile events, global visibility and access to networks of potential partners, collaborators and investors.
“Our team is dedicated to delivering the cleanest method of extracting and refining lithium, the fundamental element of a sustainable future,” said Charlie McGill, CEO of ElectraLith..
“We’re delighted to receive this recognition from the World Economic Forum and UpLink, which validates that DLE-R is on track to make an important and measurable impact that directly addresses the global sustainability challenges identified by the UN.”
“Inclusion into the World Economic Forum global initiative is a huge opportunity and the logical next step for the company. I am very proud that our Monash University innovation ecosystem supported the commercialisation pathway of ElectraLith to get to this stage,” said Dr Alastair Hick, Chief Commercialisation Officer.
Backed by Main Sequence, IP Group, Hostplus, Rio Tinto, Chevron Technology Ventures, Fathom Fund, Breakthrough Victoria, Vista Energy, Marathon Petroleum, In-Q-Tel and Monash University, ElectraLith will trial and test the first DLE-R prototype at Rio Tinto’s Rincon Project in Argentina.