The Engine

– Via Separations, a rapidly-scaling technology company that enables industrial decarbonization, announced a $38m investment, led by NGP ETP, a growth equity investor focused on opportunities in the global transition toward a lower carbon economy.
– 2040 Foundation also participated in the round, alongside existing investors, including: The Engine, Safar Partners, Prime Impact Fund, Embark Ventures and Massachusetts Clean Energy Center.
– The new capital will be used to drive deployment in the pulp and paper sector and accelerate platform expansion to reduce energy usage throughout chemical production.
– Via has begun deploying its platform to slash energy use and propel enhanced production in the pulp and paper sector with its sights set on broadly applicable industrial manufacturing.
– The company is electrifying industrial processes by replacing inefficient thermal separations with filtration-based systems.

– Lilac Solutions announced a $150m Series B financing round led by Lowercarbon Capital and funds and accounts advised by T. Rowe Price Associates.
– The round was also joined by Mercuria Energy Trading and Valor Equity Partners; existing investors Breakthrough Energy Ventures and The Engine also participated in the round.
– Lilac has developed a new ion exchange technology to increase production of lithium from brine resources.
– Lilac will use the new funds to ramp production of the company’s unique ion exchange beads, expand its teams of engineers and field operators, and deploy the technology globally.
– Most of the world’s lithium is contained in brine resources – naturally occurring deposits of salt water. These brines are abundant, but resource developers have struggled to bring projects into production due to a lack of cost-effective technology.