Princeton Critical Minerals raises $16 million, including an $11 million Series A led by SOSV, to scale its lithium production platform across the U.S. and South America. Lilypad is deployed in commercial ponds in Chile, while two other technologies are in field testing, according to CEO Sean Zheng.
Princeton Critical Minerals (PCM) raises $16 million, including an $11 million Series A led by SOSV, to scale its lithium production technologies. Its Lilypad system is deployed in commercial ponds in Chile, and the funding will support manufacturing scale-up and US production.
Princeton Critical Minerals, an SOSV portfolio company, raises $16 million, including an $11 million Series A led by SOSV, to scale lithium production from brine for energy storage. The company is moving Lilypad from pilot to industrial deployment in Chile.
Princeton Critical Minerals (formerly PureLi) spun out of Princeton research to address soaring demand for lithium and other critical minerals. Lilypad pilots with SQM in Chile increased evaporation by 40–122 percent; co-founder Ren and CEO Zheng formed the company in 2023.
May 2025 · Princeton Dean for ResearchNews article