With the rise of EVs and increasing demand for electronics, one of the biggest concerns is the battery shortage. You need materials like nickel and cobalt.

But the typical process is unsustainable and expensive, especially for high-purity nickel. 

That’s what US-based BANIQL is here to solve! Oh, and they’ve just raised a $1.6M seed led by Beenext.

• Their initial focus market is Indonesia, which has 25% of global nickel reserves. (No wonder the country pitched an EV battery plan to Elon Musk for Tesla)

Investor check. Seedstars International Ventures, A2D Ventures, Sopoong Ventures, and several angel investors, including some from XA Network, also joined in!

🪨 A little more detail

Traditional nickel mining and refining methods negatively impact nearby national habitats. Plus, the global supply chain is ineffective, especially with increasing demand. 

• It’s key for companies to find a consistent supply of the right quality too, which is tough! 

🔋Win-win 

They’ve got US patent-pending extraction tech that makes the process both more environmentally friendly and cheaper.  

• Their proprietary tech uses less heat and pressure. 
• It also lets them produce nickel from metal waste and lower-grade nickel ores.   

They also have made strategic partnerships within the mining industry. 

💡Talking about the future 

With the new $$$, they’ll develop a prototype facility, expand their R&D and engineering teams, and fund general operations.

• They’re also looking to expand to South Korea, Australia and the Philippines.