Sharikat Mubasher: Watercycle Technologies announced successfully closing a $5.6 million Series A investment round led by Par Equity as part of a syndicate with Greater Manchester Combined Authority ('GMCA'), Aer Ventures, and the University of Manchester Innovation Factory.

This investment will enable Watercycle to rapidly scale up and commercially deploy its technology to deliver sustainable, low-cost, high-yield mineral recovery systems, according to a press release.

Watercycle’s mineral recovery systems have received international traction from government bodies and businesses on every continent, targeting brine mining and battery recycling applications. The goal of the Company's proprietary technology is twofold: mitigating the growing critical mineral supply risks and fostering a circular economy in which waste is converted into value. The Company is looking to deploy its innovative solutions which will significantly impact the production of raw materials crucial for facilitating the green energy transition.

Seb Leaper, co-founder and CEO commented: ''It’s fantastic to have backing from such an excellent syndicate of investors who are strategically positioned to help Watercycle rapidly scale. With the continued support of our initial backers, the University of Manchester and Aer Ventures along with new financial support provided by deep-tech veterans Par Equity and local champions, GMCA, Watercycle is in a stronger position than ever to deliver on its mission to provide the world with a sustainable supply of critical raw materials without which there is no sustainable future.’’

Since spinning out of the University of Manchester in 2020, the Company has made remarkable progress from experimental conception to the successful implementation and operation of a pilot-scale system, resulting in the recent production of over 100 kg of battery-grade lithium carbonate.

The company was co-founded by Egyptian scientist and entrepreneur, Dr. Ahmed Abdelkarim, a recognized expert in water treatment technologies. He earned his PhD from the University of Manchester in 2018 and has led numerous pioneering projects at Watercycle, advancing the field of mineral extraction.

Ahmed Abdelkarim, Co-Founder and CTO of Watercycle commented: "We are excited to propel the company towards mass production of critical minerals. Our achievements to date are a testament to the dedication, brilliance, and leadership of our exceptional team."

Abdelkarim noted that Watercycle is currently in negotiations with various entities within the MENA region to implement their latest innovations in seawater desalination. These efforts aim to eliminate the brine disposal problem that desalination faces by selectively recovering the minerals that the brine contains and selling them into a range of strategic industries.