TechMet-Mercuria invests in Mitra Chem and becomes its exclusive lithium chemicals procurement agent

Mitra Chem/LFP and LMFP cathodes

TechMet-Mercuria, a critical-minerals joint venture between TechMet and Mercuria, invested in Mitra Chem's Series B and became its exclusive agent for buying lithium chemicals. The round, led by GM Ventures, had a first close of $40 million toward $60 million to scale US-made iron-based cathode materials such as LMFP.

• Series B totals $60 million; first close of $40 million led by GM Ventures; TechMet-Mercuria (a Swiss JV of TechMet and Mercuria) invested and became exclusive lithium chemicals procurement agent.
• TechMet focuses on critical minerals supply for Western producers; Mercuria is a global commodities trader; the partnership provides integrated supply-chain access.
• Funds scale US production of LMFP and other iron-based cathode materials, reducing dependence on China and diversifying supply chains for EV batteries.