Tidal Metals Announces $8.5 Million Series Seed Funding Led by DCVC for Revo­lu­tionary Technology to Safely and Econom­i­cally Extract Magnesium Metal from Seawater

Tidal Metals today announced the completion of its $8.5 million Series Seed funding round led by DCVC with partic­i­pa­tion from First Spark Ventures and Bidra Innovation Ventures. The financing will fund the development and construc­tion of a commercial pilot plant to demonstrate Tidal Metals’ break­through technology for extracting primary magnesium metal from seawater.

Magnesium is the lightest structural metal, weighing 75% less than steel, 50% less than titanium, and 33% less than aluminum. Identified as a Critical Material by the U.S. Departments of Energy, Defense, and Interior, magnesium is essential for indus­tri­al­ized economies, as it is critical to steel and titanium refining, aluminum alloying, trans­porta­tion, aerospace, and defense. Today, 90% of the global magnesium metal supply comes from China, where it is mined and refined using envi­ron­men­tally destructive and thermal-energy-intensive processes. Conse­quently, magnesium has the largest carbon footprint of all structural metals, which, along with magnesium’s high cost and uncertainty of supply, has become a growing concern for global manufacturers.

Tidal Metals has developed a revo­lu­tionary technology that will produce magnesium metal at competitive prices using a carbon neutral and envi­ron­men­tally harmless process. Magnesium is the second most abundant metal in seawater, averaging 1.3 kilograms per cubic meter. However, historical techniques that relied on chemical extraction proved to be econom­i­cally uncom­pet­i­tive and envi­ron­men­tally harmful. Without new innovations, the world cannot recover any of the magnesium contained in discharged desali­na­tion brine each year, estimated at over one hundred times the current global magnesium production of one million tons per year.

Tidal Metals’ patented technology concen­trates and extracts magnesium salt in seawater using efficient physical processes such as filtration, crys­tal­liza­tion, and dehydration, followed by elec­trol­ysis which converts magnesium salt into metal. These processes use only seawater and electricity. Nothing is added to the water, and no waste is generated. When powered by electricity from renewable sources, Tidal Metals’ magnesium will be fully sustainable, decar­bonized, and virtually unlimited.

Dr. Howard Yuh, CEO of Tidal Metals, said: ​“After years of applied research and development, Tidal Metals now has the technology to funda­men­tally change the techno-economics of mineral recovery from seawater and brines. Our focus on magnesium metal was driven by the dire need to expand magnesium production, lower its cost, and provide a much-needed solution to decarbonize this industry. As the world faces water scarcity for billions, we also see huge benefits to reducing the cost of desalinated water through the copro­duc­tion of high value minerals such as magnesium.”

In furtherance of its waste-to-value goals, Tidal Metals recently advanced to the fourth and final round of the HeroX Solar Desali­na­tion Prize sponsored by the U.S. Department of Energy. After a rigorous and highly competitive evaluation, the DOE selected Tidal Metals for its potential to achieve pipeline parity for desalinated water by capturing the value of magnesium in seawater desali­na­tion brine. ​“We are thrilled two more teams have advanced as finalists in the Solar Desali­na­tion Prize, including Tidal Metals (formerly GreenBlu, Inc.),” says Shane Powers, prize lead from the U.S. Department of Energy Solar Energy Tech­nolo­gies Office. ​“Tidal Metals’ innovative work will encourage businesses to become zero-liquid discharge facilities, supporting water security and widespread, commercial use of solar-thermal desali­na­tion facilities. We look forward to what they will accomplish in the final phase of the competition.” 

Earl Jones, Chairman of Tidal Metals and a DCVC Operating Partner, said: ​“Magnesium is a critical metal for aerospace and defense and the light­weighting of trans­porta­tion and mobility solutions. Tidal Metals can funda­men­tally change this industry by providing an assured supply of low-cost, carbon neutral magnesium metal that does not require terrestrial mining. Not only will Tidal Metals decarbonize a multi-billion-dollar industry, but it will catalyze growth with new appli­ca­tions for magnesium metal as well as innovation in magnesium alloys.”

About Tidal Metals

Tidal Metals, founded by three PhD scientists from MIT, Princeton and Wisconsin, is a deep-tech company based in New Jersey that has developed a break­through suite of innovations for producing critical minerals and metals from seawater and brines – with no waste, no carbon emissions, and no harm to the environment. Tidal Metals’ first application is producing magnesium metal from seawater using only electricity to unlock an econom­i­cally competitive and unlimited supply of this critical, structural metal needed for light­weighting trans­porta­tion, national security, hydrogen storage, and manu­fac­turing other structural metals. Visit us at www.tidalmetals.com. Watch our intro video at https://youtu.be/XKdRfaBst6k.