BaniQL Secures $1.6M to Revolutionize Nickel Mining

• BaniQL raises $1.6M to green nickel mining for EV batteries.
• The startup’s innovative extraction method reduces environmental impact.
• Funds will support R&D, prototype facility, and operations.

Greening the nickel industry

BaniQL, a climate tech startup based in Jakarta and San Francisco, has raised $1.6 million in a seed round led by Beenext.

They want to minimize the environmental impact of nickel mining, a crucial component in electric vehicle batteries.

Innovative extraction methods

BaniQL’s proprietary extraction method utilizes metal waste and lower-grade nickel ores, reducing water, energy, and chemical use.

The company is well-positioned to benefit from the growing battery materials market, expected to reach $82 billion by 2030. The seed funding will support the development of a prototype facility, expand R&D and engineering teams, and bolster general operations.

BaniQL boasts a pending US patent for its extraction process and has established strategic partnerships within the mining industry.

Source: techzi.co 23 May 2024