Lilac Solutions Valuation, Funding & Investors

Lilac Solutions is valued at $400M as of September 2021.

Last Lilac Solutions valuation

$400M

Series B · Sep 2021

Last Lilac Solutions funding round

$145M

Series C · Feb 2024

Cumulative funding Lilac Solutions raised

$319M

across 6 funding rounds

Key investors in Lilac Solutions

  • Breakthrough Energy Ventures
  • Lowercarbon Capital
  • ONE WORLD Impact Investments LLC
  • BMW i Ventures
  • The Engine
  • Presidio Ventures

Lilac Solutions Overview

About Lilac Solutions

Lilac Solutions is an Oakland-based provider of direct lithium extraction technology for battery production. The company deploys ion exchange columns that selectively capture lithium ions from brines in salars across South America and North America. Lilac's modular systems achieve high recovery rates while using less water and energy than traditional evaporation ponds. Founded in 2016, Lilac conducts pilots with resource owners in Nevada and Argentina to accelerate lithium supply for electric vehicles.


Founded

2016

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$400M (Sep 2021)

Lilac Solutions Valuation

Lilac Solutions is currently valued at $400M, based on its Series B in September 2021.

The $150M round was led by Lowercarbon Capital, with participation from Breakthrough Energy Ventures, The Engine, ONE WORLD Impact Investments LLC, SK Materials, Earthshot Ventures and 5 other investors.

Lilac Solutions' valuation has grown 364x from $1M at its seed round in August 2018 to $400M in September 2021, across 2 priced rounds.

Lilac Solutions valuation by funding round

Lilac Solutions valuation by funding round
DateStageValuation
Sep 2021Series B$400M
Aug 2018Seed$1M

Lilac Solutions Funding History

Lilac Solutions has raised a total of $319M across 6 funding rounds.

Lilac Solutions' first fundraising round was a $800K seed round in January 2018. The most recent completed round was a $145M Series C in February 2024.

Lilac Solutions funding rounds

Lilac Solutions funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2024Series CBreakthrough Energy Ventures (lead); Lowercarbon Capital (lead); Mercuria (lead); The Nature Conservancy; Green Spark Ventures; Engine Ventures; T. Rowe Price; AXIAL Partners; Mitsubishi; BMW i Ventures; Aventurine Partners; Presidio Ventures$145M-Lilac Solutions develops direct lithium extraction (DLE) technology using proprietary ion-exchange (IX) materials to extract lithium from brines, offering high recovery rates, low freshwater use (10x less than alternatives), no evaporation ponds, and over 3,000 cycles of durability in harsh conditions. The technology is modular, leverages off-the-shelf equipment for rapid scale-up, and has been tested with over 500,000 hours, 70+ brine samples, two field pilots, one demonstration plant, and recent commercial-scale module testing. Lilac partners with lithium developers globally, targeting untapped brine resources amid surging EV-driven lithium demand. On February 12, 2024, Lilac closed a $145 million Series C round led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures, bringing total funding to $315 million (following $150M Series B in 2021). Participants included existing investors T. Rowe Price, Engine Ventures, Aventurine Partners, Presidio Ventures (Sumitomo), BMW i Ventures, and new investors Mitsubishi Corporation and The Nature Conservancy. Funds support ramping IX material manufacturing and commercial deployments worldwide. Lilac has over 10 large-scale projects under development across three continents, including a Utah Great Salt Lake initiative targeting 3,000 tonnes per annum (tpa) lithium carbonate by 2026 (potentially scaling to 20,000 tpa), with a field pilot planned that year. Past work includes a demonstration with Lake Resources in Argentina yielding 2,500 kg high-purity lithium. The tech returns water unchanged to sources, minimizing environmental impact. Focus is pre-commercial traction in a market challenged by falling lithium prices.
Sep 2021Series BLowercarbon Capital (lead); Breakthrough Energy Ventures; The Engine; ONE WORLD Impact Investments LLC; SK Materials; Earthshot Ventures; BMW i Ventures; Valor Equity Partners; Presidio Ventures; Mercuria; MCJ$150M$400MLilac Solutions is an Oakland, California-based lithium extraction technology company that has developed patented ion-exchange technology to extract lithium from brine resources. The company's proprietary process uses approximately 10 times less freshwater than conventional evaporation-based methods and allows brine to be returned underground after lithium recovery, minimizing environmental impact compared to existing production methods. The company completed its Series B financing in October 2021, raising $150 million to support scaling of its technology globally. The round was led by Lowercarbon Capital and backed by Breakthrough Energy Ventures, Earthshot Ventures, MCJ Collective, BMW i Ventures, SK Materials, Presidio Ventures (a Sumitomo Corporation Group Company), and other strategic investors. The capital was allocated toward ramping production of the company's proprietary ion-exchange beads, expanding engineering and field operations teams, and deploying the technology across multiple geographies. Lilac had completed its first field pilot and demonstrated technical viability across different brine types, positioning itself to address critical lithium supply constraints for the electric vehicle industry.
Feb 2020Series ABreakthrough Energy Ventures (lead); The Engine; Grantham Foundation; Stanton Green; ONE WORLD Impact Investments LLC; Lowercarbon Capital$20M-Lilac Solutions raised $20 million in a Series A funding round around June 2020, led by Breakthrough Energy Ventures, with participation from Grantham Foundation, Lowercarbon Capital, The Engine, and others. The funding supported expansion of its engineering team, scaling production of ion-exchange beads central to its lithium extraction technology, and deploying the technology in brine operations. Lilac's proprietary ion-exchange process selectively extracts lithium from brines, offering higher recovery rates, lower costs, and reduced environmental impact compared to traditional evaporation ponds. The round was viewed as validation for partners like Lake Resources, which adopted Lilac's technology for its lithium brine projects in Argentina, emphasizing efficiency, shorter time-to-market, and sustainability without large evaporation ponds. Investors, including those from Breakthrough Energy Ventures backed by figures like Bill Gates, Jeff Bezos, Jack Ma, and Michael Bloomberg, targeted disruptive clean energy technologies to cut greenhouse gas emissions. Lilac, founded in 2016 and based in Oakland, CA, focuses on direct lithium extraction (DLE) from low-quality brines to meet surging demand from electric vehicles and batteries. Subsequent rounds included a Series C of $145 million in late 2023/early 2024 led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures, bringing total funding over $300 million, with later valuations estimated at $800 million to $1 billion in 2023-2024 sources.
Jan 2019SeedPrime Impact Fund (lead); Tribeca Early Stage Partners (lead); Mount Wilson Ventures; Berkeley Angel Network$3M-Lilac Solutions is a lithium extraction technology company founded in 2016 and based in Oakland, California. The company develops patented ion exchange technology that extracts lithium from brine resources with high efficiency and minimal environmental impact. Lilac's technology produces ion beads that absorb lithium as brine flows through them, with hydrochloric acid used to release concentrated lithium chloride. The company has scaled significantly, with its most recent Series C funding round in February 2024 raising $145 million led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures, bringing total funding to over $318 million. By 2025, the company reported $145 million in annual revenue and unveiled its fifth-generation technology delivering 20x higher lithium production rates. Under CEO Raef Sully (who joined in 2024 from Nutrien), Lilac is developing key projects globally including the Great Salt Lake project in Utah targeting 3,000 tonnes per year by 2026, the Kachi project in Argentina with Lake Resources, and the Neptune project in Germany.
Aug 2018SeedONE WORLD Impact Investments LLC$300K$1M-
Jan 2018Seed-$800K--

Who has invested in Lilac Solutions?

24 investors have backed Lilac Solutions across its funding rounds, including Breakthrough Energy Ventures, Lowercarbon Capital, ONE WORLD Impact Investments LLC, BMW i Ventures, The Engine and Presidio Ventures.

Lead investors include Breakthrough Energy Ventures, Lowercarbon Capital, Mercuria, Prime Impact Fund and Tribeca Early Stage Partners.


Lilac Solutions Investors

Investors in Lilac Solutions by funding rounds participated
InvestorHQRoundsRoleFirst check
Breakthrough Energy VenturesFranceParis3LeadFeb 2020
ONE WORLD Impact Investments LLCUnited StatesSan Francisco, CA3ParticipantAug 2018
Lowercarbon CapitalUnited StatesJackson, MS3LeadFeb 2020
The EngineUnited StatesUnited States2ParticipantFeb 2020
BMW i VenturesUnited StatesSan Francisco, CA2ParticipantSep 2021
Presidio VenturesUnited StatesSan Jose, CA2ParticipantSep 2021
MercuriaSwitzerlandGeneva2LeadSep 2021
The Nature ConservancyUnited StatesWashington, DC1ParticipantFeb 2024
Mount Wilson VenturesUnited StatesLos Angeles, CA1ParticipantJan 2019
Berkeley Angel NetworkUnited StatesSan Francisco, CA1ParticipantJan 2019
Green Spark VenturesUnited StatesUnited States1ParticipantFeb 2024
Grantham FoundationUnited StatesBoston, MA1ParticipantFeb 2020
Tribeca Early Stage PartnersUnited StatesNew York City, NY1LeadJan 2019

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Lilac Solutions Competitors

Lilac Solutions competitors include listed companies like Nel, Viridis Mining, Minera Corona and Vox Royalty, and private ones like Corintis and HTEC Hydrogen Technology & Energy.

Public and private companies comparable to Lilac Solutions
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CorintisSwitzerlandLausannePrivate--$400M-
NelNorwayNorwayPublicly listed$103M($115M)$399M3.1x
Viridis MiningAustraliaAustraliaPublicly listed-($5M)$401M-
Minera CoronaPeruPeruPublicly listed$127M($4M)$403M-
Vox RoyaltyUnited StatesUnited StatesPublicly listed$17M$14M$403M12.9x
HTEC Hydrogen Technology & EnergyCanadaVancouverPrivate--$386M-

Lilac Solutions Public Comps

Lilac Solutions is still privately-owned, but its public comps include Nel, Viridis Mining, Minera Corona, Vox Royalty, Tupy, Focus Minerals, Akastor, Silverco Mining, AltynGold and Aldebaran Resources.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Nel$103M($115M)2.7x3.1x(2.4x)(7.5x)
Viridis Mining-($5M)--(83.2x)(84.3x)
Minera Corona$127M($4M)3.4x-(110.8x)-
Vox Royalty$17M$14M22.4x12.9x26.6x-
Tupy$1.9B$31M0.4x0.4x25.2x5.3x
Focus Minerals$214M$95M1.2x-2.7x-
Akastor$42M($24M)8.1x8.0x(13.8x)21.4x
Silverco Mining-($13M)--(28.5x)-

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Common questions about Lilac Solutions

When was Lilac Solutions founded?Lilac Solutions was founded in 2016.
Where is Lilac Solutions headquartered?Lilac Solutions is headquartered in San Francisco, CA, United States.
Is Lilac Solutions publicly listed?No, Lilac Solutions is a private, VC-backed company.
What is Lilac Solutions' valuation?Lilac Solutions was last valued at $400M in its Series B in September 2021.
How much funding has Lilac Solutions raised?Lilac Solutions has raised $319M across 6 funding rounds.
What was Lilac Solutions' last funding round?Lilac Solutions' last funding round was a $145M Series C in February 2024, led by Breakthrough Energy Ventures, Lowercarbon Capital and Mercuria.
Who are Lilac Solutions' investors?Lilac Solutions' investors include Breakthrough Energy Ventures, ONE WORLD Impact Investments LLC, Lowercarbon Capital, The Engine, BMW i Ventures, Presidio Ventures, Mercuria, The Nature Conservancy, Mount Wilson Ventures, Berkeley Angel Network and 14 others.
Which companies are comparable to Lilac Solutions?Companies comparable to Lilac Solutions include Corintis, Nel, Viridis Mining, Minera Corona, Vox Royalty and HTEC Hydrogen Technology & Energy.

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