# Summit Nanotech Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/summit-nanotech

- Industry: Mining
- Headquarters: Calgary, Canada
- Website: www.summitnanotech.com
- Total disclosed funding: $64M
- Latest round: Series A (Jan 17, 2023)
- Investors on record: 13

## About

Summit Nanotech Corporation, based in Calgary, Canada, specializes in innovative direct lithium extraction technology, focusing on efficient and sustainable methods to support the electric vehicle market and battery production.Founded in 2018, Summit Nanotech Corporation operates in Calgary, Canada, focusing on the development of direct lithium extraction technology. The company has completed a total of 9 deals, with its most recent funding round occurring on March 18, 2025, where it raised CAD 36.5 million from investors including BDC Capital, Capricorn Management, Evok Innovations, LG Technology Ventures, SBI Investment, and Xora Innovation. Amanda Hall serves as the CEO of the company.Summit Nanotech specializes in direct lithium extraction (DLE) technology, primarily through its flagship denaLi™ products. This innovative technology utilizes a market-leading DLE sorbent system to efficiently extract lithium from brine, achieving a lower levelized cost of lithium production compared to traditional methods. The end use cases for this technology are primarily situated within the rapidly growing electric vehicle (EV) market, which is expected to drive significant demand for lithium-ion batteries in the coming years. Summit's customer base includes battery manufacturers and EV producers, who benefit from the advanced efficiency and reduced resource consumption provided by the company's extraction systems. The products are deployed in various geographical markets, including North America and regions with substantial lithium brine resources, allowing Summit Nanotech to serve a global clientele involved in the energy transition toward sustainable transportation.Summit Nanotech's revenue model is anchored in business-to-business (B2B) transactions, focusing on partnerships with battery manufacturers and electric vehicle manufacturers seeking efficient lithium sourcing solutions. The company engages in direct sales of its denaLi™ DLE technology, which is structured around long-term contracts that ensure ongoing supply of lithium extraction services. Pricing structures for these contracts are based on the amount of lithium extracted or on a subscription model that includes technology licensing, maintenance, and support services. These arrangements support the scalability of Summit's operations while providing clients with predictable costs associated with lithium procurement. As demand for lithium continues to surge with the increasing adoption of electric vehicles, Summit is positioned to capitalize on its innovative extraction solutions, enhancing its revenue prospects within the lithium supply chain.In March 2025, Summit Nanotech Corporation raised CAD 36.5 million in venture funding co-led by returning investors Evok Innovations, BDC Capital, Xora Innovation, and Capricorn Investment Group, with participation from new investors SBI Investment and LG Technology Ventures. The company will use the funding to accelerate the commercialization of their direct lithium extraction technology. Summit plans to introduce new products based on its DLE technology and expand into additional markets to meet the growing demand for lithium in the electric vehicle sector.

## Funding rounds

- Series A, Jan 17, 2023, $50M — BDC Capital, NGP, Capricorn Investment Group, Grantham Foundation, Evok Innovations, Volta Energy Technologies, Xora Innovation, Helios Climate Ventures
- Series A, Mar 1, 2022, $14M — Capricorn Investment Group, Xora Innovation, BHP Ventures
- Seed, Aug 24, 2020, $0.1M — Wisdom
- Seed, Jul 14, 2020, $0.1M — Sustainable Development Technology Canada, Creative Destruction Lab, 51 Ventures

## Investors

- Sustainable Development Technology Canada (https://capitalatlas.ai/funds/sustainable-development-technology-canada) — Seed
- Creative Destruction Lab (https://capitalatlas.ai/funds/creative-destruction-lab) — Seed
- 51 Ventures (https://capitalatlas.ai/funds/51-ventures) — Seed
- Wisdom (https://capitalatlas.ai/funds/wisdom) — Seed
- Capricorn Investment Group (https://capitalatlas.ai/funds/capricorn-investment-group) — Series A
- Xora Innovation (https://capitalatlas.ai/funds/xora-innovation) — Series A
- BHP Ventures (https://capitalatlas.ai/funds/bhp-ventures) — Series A
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- NGP (https://capitalatlas.ai/funds/ngp) — Series A
- Grantham Foundation — Series A
- Evok Innovations (https://capitalatlas.ai/funds/evok-innovations) — Series A
- Volta Energy Technologies (https://capitalatlas.ai/funds/volta-energy-technologies) — Series A
- Helios Climate Ventures (https://capitalatlas.ai/funds/helios-climate-ventures) — Series A