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The Princeton University spinout will use the funding to expand sales and commercial deployments of its revolutionary brine-based lithium production platform in the U.S. and South America.
PRINCETON, N.J. — Princeton Critical Minerals (PCM), a startup developing technologies to accelerate and increase lithium production yields from brine sources, has raised $16 million in combined equity and non-dilutive funding to address increasing demand for critical minerals used in energy storage, electrification, and AI infrastructure.
The financing includes an $11 million Series A round led by SOSV, with participation from the Grantham Foundation for the Protection of the Environment, Prospect Innovation, ASTOR Management AG, Black Forest Ventures, and a synergistic investment from New Jersey Economic Development Authority through the New Jersey Innovation Evergreen fund. The company has also recently secured more than $5 million in grant funding from the National Science Foundation, ARPA-E, and NJEDA.
