Monday, August 11, 2008

Simbol Mining Scores $6.7M

Houston-based Simbol Mining, which is developing processes to product lithium for batteries, said this morning that it has raised $6.7M in a funding round. The round came from MDV Mohr Davidow Ventures and Firelake Capital. Simbol Miing was founded by two Rice University MBAs, Luka Erceg and Scott Conley. The firm said it is focused on producing lithium and other commodity metals, using what it says is a clean, zero-waste production process. The company explained that lithium is a key ingredient in the manufacturing of electric vehicle batteries, a key target market for the company. More information »