Magrathea Raises $24M Series A to Scale Magnesium Extraction
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San Francisco-based Magrathea has secured $24 million in a Series A funding round. The company focuses on extracting magnesium metal from seawater and industrial waste brines.
Funding Details and Investors
The funding round was led by Resource Technology Capital and Balerion Space Ventures. In addition, several investors participated, including Oxcart, WovenEarth, Audacity, and Avila. Existing backers such as VoLo Earth, Capricorn Investment Group, and Ora Global also joined the round.
How the Company Plans to Use the Funds
Magrathea plans to use the capital to scale its operations. Most importantly, the company will focus on advancing its technology and building a demonstration smelter. This step is expected to support further testing and commercial readiness.
Focus on Alternative Magnesium Production
Magrathea develops technology to extract magnesium using an electrolytic process. Unlike traditional mining, the approach relies on seawater and waste brines. As a result, the company aims to reduce dependence on conventional supply chains.
Moreover, the process is designed to lower carbon emissions. This aligns with broader efforts to develop cleaner industrial materials.
Current Operations
The company operates a pilot facility in Oakland, California. Through this facility, it continues to test and refine its extraction process before scaling production.
