- 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.
To read the original article: https://www.techinasia.com/indonesian-climate-tech-raises-1-2m-for-green-mining
