Novalith Technologies revolutionary process unlocks cleaner, cheaper lithium
Redefining lithium extraction to drive a more sustainable future
Novalith Technologies is developing a game-changer low-carbon way to extract lithium, to support accelerating the world’s transition towards an electric future.
$7.8m
CEFC commitment
Low-carbon
lithium production
65%
reduction in process costs
Our technology has the potential to significantly decarbonise the lithium supply chain as well as unlock new lithium ore reserves and opportunities, providing low cost and environmentally sustainable lithium to a world that is rapidly racing towards an electric future.Steven VassiloudisFounder and CEO, Novalith
Our investment
The CEFC has committed a total of $7.8 million to Novalith Technologies to support its award-winning revolutionary way to produce lithium that significantly reduces costs and environmental impact.
CEFC investment is backing Novalith to scale up and commercialise its patented LiCAL™ Technology. Investments were made across seed funding and Series A funding rounds through the Clean Energy Innovation Fund, which is managed on behalf of the CEFC by Virescent Ventures.
International recognition for innovation
Novalith has picked up a string of industry awards including:
- Industry Leadership Award for the Overall CleanTech Solution of the Year at the inaugural CleanTech Breakthrough Awards in August 2024.1
- Being named a Top Project of the Year in the 2025 E+E Leader Product & Project Awards for its outstanding example of innovation in clean technology and sustainable battery materials.2
- 2024 Australian Climate Tech Awards Eureka Award, which recognises climate tech sector companies that have made significant groundbreaking solutions within the climate tech sector.3
- Novalith CEO Steve Vassiloudis secured 45th position on the Business News Australia: Top 100 Young Entrepreneurs List in April 2025.4
By investing in innovative Australian companies like Novalith, the CEFC is backing the development of a sustainable potential on-shore solution for lithium production and helping to strengthen the sustainability of the supply chain in Australia.”Kristin VaughanManaging Partner, Virescent Ventures
1 Novalith media release, 5 August, 2024
2 Novalith media release, 4 April 2025
our impact
A critical element for a clean energy transition
Lithium is an essential resource for the transition to net zero through its ability to support electrification and grid stability. The critical element is used in rechargeable batteries that power many every-day modern devices and in utility scale battery storage that enables increased levels of renewable energy to be used in our electricity grids.
Lithium’s unique properties - light weight, high energy density, and rechargeability - make it essential for building a sustainable and resilient energy future.
The lithium supply challenge
Global demand for lithium ion batteries is expected to soar from 700 GWh required in 2022 to some 4.7 TWh in 2030, according to research by McKinsey & Company.
Australia is well positioned to take advantage of this demand, with significant rock-based resources that can typically produce high quality battery grade lithium product.
A low-carbon cost-effective process
Conventional rock-based lithium extraction requires large amounts of chemicals including sulfuric acid and produces large amounts of waste.
Novalith estimates its technology cuts process costs by up to 65 per cent, cuts plant costs by 50 per cent and reduces plant carbon footprints by 25 per cent when compared with conventional processes.
Novalith technology uses carbonated water in a process that results in high recoveries of battery grade lithium with an inert carbon-infused rock as a by-product. The technology allows faster access to lithium to help meet rapid electrification ambitions.
The technology allows Novalith to achieve high lithium recoveries from low quality lithium bearing ores and is designed to meet the demands of clean energy markets and standards of strict regulatory environments.
