Mangrove Lithium in its $85-million structured financing led by Canada Growth Fund and $9-million ITC-backed loan underwritten by National Bank of Canada Mangrove Lithium in its $85-million structured financing led by Canada Growth Fund and $9-million ITC-backed loan underwritten by National Bank of Canada

On January 15, 2026, Mangrove Water Technologies Ltd. (Mangrove Lithium) announced an up to $85-million structured financing led by Canada Growth Fund (CGF), with participation from existing investors, including Breakthrough Energy Ventures and BMW i Ventures. The financing closed alongside a $9-million Clean Technology Manufacturing Investment Tax Credit–backed loan underwritten by National Bank of Canada. The financings will support the commercialization and implementation of Mangrove Lithium’s lithium refining technology across Canada and globally.

Mangrove Lithium is an industry-leading Canadian cleantech company that is pioneering a feedstock-flexible, electrochemical lithium refining platform that produces battery-grade lithium hydroxide or lithium carbonate.

CGF is a $15-billion arm’s-length investment vehicle designed to attract private capital to build Canada’s clean economy.

Osler, Hoskin, and Harcourt LLP advised Mangrove Lithium with a team consisting of Justin Young, Martin Smith and Alexander Pescitelli (Emerging and High Growth Companies); Martha Martindale and Matthew Li (Financial Services).