Lilac Solutions raises $20 million Series A round from prominent venture capital firms

February 20, 2020
Chemicals More...
by Chloe Holzinger
Average importance

The round was led by Breakthrough Energy Ventures, with other investments from The Engine, Lowercarbon Capital, and The Grantham Foundation. While the influx of fresh capital is certainly positive for Lilac, the company's decision to source funding from venture capital firms rather than strategic industry players is interesting. Investments from strategics are usually harbingers for pilot project or co-development opportunities, as with Livent's partnership with E3 Metals. Lilac's choice to go elsewhere for capital may speak to its technology's early stage of development, the lithium industry's strong risk aversion, or both. Regardless, clients should continue to expect one of Lilac's most significant hurdles to be securing pilot projects.

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