TechMet-Mercuria To Serve As Exclusive Lithium Procurement Agent For Mitra Chem

(RTTNews) - Mitra Future Technologies Inc. or Mitra Chem announced that TechMet-Mercuria has invested in its current Series B round and will act as Mitra Chem's exclusive lithium chemicals procurement agent. TechMet-Mercuria or TMM is a joint venture incorporated in Switzerland between TechMet and Mercuria.

This announcement comes on the heels of Mitra Chem's completion of a $40 million first close of a $60 million Series B funding round led by GM Ventures. The investment will help GM and Mitra Chem develop iron-based cathode active materials like lithium manganese iron phosphate to power affordable and accessible EV batteries compatible with GM's EV propulsion architecture, the Ultium Platform.