ElectraLith completes $27.5 million funding round to develop water-free and chemical-free filtration technology

ElectraLith, a direct lithium extraction technology company backed by mining giant Rio Tinto, is reportedly set to complete a funding round in the coming week to raise A$27.5 million (US$17.8 million). ElectraLith has innovatively proposed a water- and chemical-free filtration technology to extract lithium from brine deposits, which could be critical in areas such as Chile's Atacama Desert.