Altillion announced that it has closed a $5 million seed funding round to advance the commercialization of its IRIS and ALIX technologies for extracting valuable minerals from oilfield produced water, geothermal brines, and salars. The financing was led by EIC Rose Rock and Flathead Forge and will support the deployment of pilot facilities and the scale-up of commercial operations to domestically source iodine, lithium, and other critical minerals.
Each year, the oil and gas industry generates roughly one trillion gallons of produced water, while geothermal operations yield hundreds of billions of gallons of brine and salar deposits contribute an additional 30 to 50 billion gallons. Altillion’s on-site extraction process is designed to recover iodine, lithium, copper, bromine, magnesium, and additional minerals without disrupting existing operations. By converting these wastewater streams into revenue-generating assets, the company aims to strengthen America’s critical mineral supply chain.
This integrated resource recovery approach enables operators to diversify revenue streams, reduce environmental liabilities, and bolster energy security without investing in new extraction infrastructure. Along with announcing the funding round, Altillion unveiled a refreshed brand identity and redesigned website at www.altillion.com to reflect its sharpened focus on commercial-scale mineral recovery.
Jay Keener, Chief Executive Officer of Altillion, commented, “Our efficient, scalable technologies are essential for reshaping critical mineral recovery and unlocking the full value of oilfield brines. We’re well positioned to deliver a stable, domestic supply of minerals needed for electronics, batteries, healthcare, and defense applications. This investment from EIC Rose Rock and Flathead Forge allows us to accelerate our impact at a critical time.”
David Clouse, Managing Director of EIC Rose Rock, added, “We are excited to partner with Altillion to deploy these world-class technologies and access the vast wealth hidden in wastewater. Together, we will help the energy industry source the critical minerals America needs.” Doug Lee, Managing Director of Flathead Forge, noted, “Altillion bridges the gap between proven concepts and commercial scale. We’re proud to support their work turning wastewater and brines from a liability into a reliable domestic mineral source.”
Source: GlobeNewswire
