The Princeton University spinout will use the funding to expand sales and commercial deployments of its revolutionary brine-based lithium production platform in the U.S. and South America.

Princeton Critical Minerals (PCM), a startup developing technologies to accelerate and increase lithium production yields from brine sources, has raised $16 million in combined equity and non-dilutive funding to address increasing demand for critical minerals used in energy storage, electrification, and AI infrastructure.

The financing includes an $11 million Series A round led by SOSV, with participation from the Grantham Foundation for the Protection of the Environment, Prospect Innovation, ASTOR Management AG, Black Forest Ventures, and a synergistic investment from New Jersey Economic Development Authority through the New Jersey Innovation Evergreen fund. The company has also recently secured more than $5 million in grant funding from the National Science Foundation, ARPA-E, and NJEDA.

Founded from research at Princeton University, PCM’s technology platform improves the efficiency and scalability of lithium production from brine resources, the mineral-rich, subterranean or industrial saltwater that holds over half the world’s lithium reserves and other critical minerals. Its systems combine significant evaporation enhancement, AI-enabled pond monitoring, and selective crystallization to help producers increase throughput while reducing energy use, chemical consumption, and operational complexity.

“Lithium demand has moved far beyond the demand for electric vehicle (EV) batteries,” said Sean Zheng, co-founder and CEO of PCM. “Battery storage, AI data centers, robotics, drones, and broader electrification are all converging on the same constrained critical mineral supply chain, lithium first and foremost. Energy storage is becoming foundational infrastructure for both the digital economy and energy security. Our novel technology system results in higher production, with lower cost in a shorter time.”

As global demand for lithium continues to accelerate, expanding production capacity has become one of the industry’s largest challenges. Conventional brine operations require large land areas, long development timelines, and extensive permitting and infrastructure buildout. Emerging direct lithium extraction technologies, meanwhile, still struggle with downstream concentration costs, high energy consumption, and scale-up complexity.

PCM is developing technologies that bridge these gaps by improving both conventional and emerging lithium production workflows. The company’s systems are designed to seamlessly integrate with existing production operations while enabling cheaper and more efficient enrichment, monitoring, and processing of brine resources across multiple geographies.

The company recently deployed its Lilypad^™ technology in Chile, home to some of the world’s largest lithium brine resources. By integrating the system directly into existing commercial evaporation ponds that process naturally occurring, mineral-rich underground water, the company has successfully transitioned from pilot phase to deployment in active production environments. Leveraging government’s increased support for domestic critical-mineral infrastructure, the company is concurrently preparing for commercial deployments in the U.S.

Building on this industrial-scale milestone, PCM is also field-testing two additional technologies in Chile focused on evaporation enhancement and AI-powered process optimization, further expanding its integrated lithium production platform. This revolutionary technology optimizes costs while increasing production, at the time when lithium demand is rapidly increasing.

The new funding will be used to scale manufacturing, expand commercial deployments, build U.S.-based production capabilities, and continue advancing PCM’s core technology platform.

Following the successful industrial-scale deployment of Lilypad, PCM is preparing to launch two additional pilot projects in Chile focused on evaporation enhancement and AI-powered process optimization, further expanding the company’s integrated platform for lithium production. Demand from customers, including the largest lithium producers, is growing and the funds raised will be critical in rolling out further sales and deployment.

About Princeton Critical Minerals

Princeton Critical Minerals develops technologies that improve lithium production efficiency, recovery, and operational performance across global critical mineral supply chains. Based in Newark, New Jersey, and launched from Princeton University, the company supports the expansion of scalable and resilient mineral infrastructure needed for energy storage, electrification, and next-generation digital systems.

For more information, visit pcmtech.com

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PCM is developing a platform technology that redefines both conventional and emerging lithium production workflows.