Watercycle Technologies

What Watercycle Technologies does

Watercycle Technologies Ltd is a Manchester-headquartered deep-technology company founded in 2020 as a spin-out from the University of Manchester, operating proprietary DLEC™ (Direct Lithium Extraction and Crystallisation) membrane systems for selective lithium recovery from brines, battery recycling streams, and desalination brines. The three-stage platform integrates mixed-matrix hollow-fibre selective extraction, mineral enrichment, and crystallisation into a single modular, containerised system that produces battery-grade lithium carbonate at >99.5% purity and claimed recovery rates above 95%, and is extended via the ReCAM short-loop refining process to convert black mass directly into cathode active material.

The company operates a Build-Own-Operate commercial model in which it retains ownership of modular recovery units deployed at customer sites and is monetised through recovered mineral offtake, long-term feedstock supply agreements, and licensing. It runs Europe's first commercial Direct Lithium Extraction plant in Runcorn, alongside R&D facilities at the University of Manchester's Graphene Engineering Innovation Centre, and serves lithium brine owners (Cornish Lithium, Weardale, Altamin, ENAMI Chile, YLB Bolivia), battery recyclers and gigafactories (TVL, cylib, Primobius, RSBruce, Recyclus), and government/ecosystem partners (UKBIC, Innovate UK-funded ReCAM consortium, EWaste Africa).

Watercycle is privately held and venture-backed, having closed a $5.6 million Series A in November 2024 led by Par Equity, supplemented by £500,000 and £3 million Innovate UK grants. Strategic positioning emphasises zero-waste outputs, freshwater as a co-product, and alignment with EU Battery Regulation recycled-content thresholds and the UK Critical Minerals Strategy, with stated production targets of 50,000 tonnes per annum of lithium carbonate equivalent in the UK and 150,000 tonnes per annum across Europe by 2035.

Name

Watercycle Technologies

Legal name

Watercycle Technologies Ltd

Website

https://watercycletechnologies.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Watercycle Technologies is a Manchester-based deep-tech company that designs and operates proprietary DLEC™ membrane systems for direct lithium extraction, battery recycling, and desalination under a Build-Own-Operate model, serving mining companies, battery recyclers, and government agencies.

Ownership category

akta.pro rank

Product category

Direct Lithium Extraction and Critical Minerals Recovery

NAICS

Materials Recovery Facilities (56292)

SIC

Refuse Systems (4953)

akta.pro industry

PRIMARYIMAKAFAA

Lithium Mining & Brine Extraction

Industrials, Manufacturing & Construction/Metals & Mining/Battery & Critical Minerals Mining (Lithium, Nickel, Cobalt, Graphite, Manganese, Rare Earths)

SECONDARYEUAFACAD

Hydrometallurgical Recycling & Refining (Leaching, Solvent Extraction, Precipitation)

Energy, Utilities & Environment/Energy Storage & Grid Flexibility (Batteries, Hydrogen Storage, Demand Response)/Battery Recycling, Second-Life & Lifecycle Services

SECONDARYEUAFACAF

Direct Recycling & Cathode Regeneration (Relithiation, Reconditioning)

Energy, Utilities & Environment/Energy Storage & Grid Flexibility (Batteries, Hydrogen Storage, Demand Response)/Battery Recycling, Second-Life & Lifecycle Services

SECONDARYEUAIAIAF

Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling)

Energy, Utilities & Environment/Environmental Services (Waste Management, Recycling & Remediation)/E-waste & Battery Recycling

Keywords

• Direct lithium extraction
• Battery recycling systems
• Membrane separation technology
• Critical minerals recovery
• Brine processing systems

Headquarters

HQ city

Manchester

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Modular System Sales / Build-Own-Operate (BOO): Watercycle deploys modular DLEC and battery recycling systems under a Build-Own-Operate model. The company builds, owns, and operates the modular recovery units at customer sites (e.g., TVL refinery, battery recycling facilities). This model transfers CAPEX complexity away from resource owners while generating recurring service revenue for Watercycle. Systems scale with feedstock growth to minimise risk of stranded assets.
2. Recycled Lithium Feedstock Supply: Watercycle supplies recycled lithium carbonate feedstock to refineries under long-term supply agreements. The non-binding Heads of Terms with TVL outline up to 10,000 tonnes per annum of recycled lithium carbonate feedstock supply, with index-linked pricing. This creates a recurring revenue stream from the sale of recovered mineral products.
3. On-Site Lithium Recovery Value Unlock: Through its on-site recovery technology deployed at TVL's refinery, Watercycle enables recovery of up to ~800 tonnes per annum of LCE, unlocking up to c.US$16 million per annum of additional value for the refinery through improved lithium yield. Watercycle captures value through the BOO service arrangement.
4. Licensing and Technology Partnerships: Watercycle licenses its technology to international partners for deployment on their brines or recycling streams (e.g., YLB Bolivia, ENAMI Chile, EWaste Africa, Cobra Resources). The company conducts testing, pilots, and feasibility studies, then explores larger-scale licensing or joint-venture commercial arrangements.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Watercycle Technologies designs, builds, and operates proprietary DLEC™ (Direct Lithium Extraction and Crystallisation) modular systems that recover battery-grade lithium and other critical minerals from brines, geothermal waters, and industrial wastewater. The same membrane-based platform is deployed as modular battery recycling (hydrometallurgical) systems to recover lithium carbonate, graphite, NMC, and pCAM from black mass and spent lithium-ion batteries, with zero wastewater and freshwater produced as a co-product. The company commercialises these systems under a Build-Own-Operate model at customer sites and through long-term licensing and recycled-mineral feedstock supply agreements.

Differentiator

Problem solved

Functional benefit

Brands

• DLEC™: Direct Lithium Extraction & Crystallisation technology for producing battery-grade lithium from brines

Products and services

• DLEC™ Direct Lithium Extraction and Crystallisation System Modular, membrane-based, three-stage system that selectively extracts lithium ions from complex brines (geothermal, subsurface, salar, industrial wastewater) and integrates mineral enrichment and crystallisation into an end-to-end process that produces battery-grade lithium carbonate (>99.5% purity) on-site without ion-exchange columns, pre-treatment, or post-concentration stages. Deployed under Build-Own-Operate at customer sites for mining companies, geothermal operators, and brine resource owners.
• Modular Hydrometallurgical Battery Recycling Systems Zero-waste modular systems for battery recyclers and gigafactories that recover high-purity lithium carbonate, graphite, NMC (nickel-manganese-cobalt), and pCAM from black mass and spent lithium-ion batteries, with freshwater produced as a co-product and zero wastewater. Configurable to varying battery chemistries and form factors; integrated on-site under Build-Own-Operate at partner recycling facilities such as RSBruce, cylib, Primobius, Recyclus, and EWaste Africa.
• ReCAM Short-Loop Refining Process Patented short-loop refining process developed within the ReCAM consortium that converts black mass directly into cathode active material (CAM) in a single streamlined step rather than multi-stage chemical processes. Operates as a zero-waste, modular, on-site solution for battery recyclers at 250 kg/hour.
• Desalination Hybrid Process Advanced desalination process that extracts valuable critical minerals (lithium, cobalt, nickel, manganese) from brine or wastewater produced in desalination operations while producing fresh potable water as a co-product, addressing water security and mineral recovery simultaneously for municipal and industrial desalination operators.
• Recycled Lithium Carbonate Feedstock Supply Long-term supply of recycled, battery-grade lithium carbonate feedstock produced via Watercycle's on-site recovery technology, including up to ~800 tonnes per annum of LCE recovered at the TVL refinery, unlocking up to c.US$16 million per annum of additional value.

Quantifiable outcome

• >99.5% purity lithium carbonate produced from UK brines
• +8 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

15 partnerships are on record, tiered core, supporting and flagship.

• cylib GmbHcoreStrategic or Co-development Partner · 19 May 2026Watercycle signed MoU with cylib to form a strategic material supply and technology integration agreement focused on graphite and lithium recovery from cylib's battery recycling facilities in Europe. Watercycle intends to evaluate purchase of graphite material from cylib's Aachen demonstration facility beginning in 2026, with potential for commercial volumes from cylib's first commercial plant. The partnership also includes treatment of lithium-bearing process water from cylib's battery recycling using DLEC™ technology.
• UK Battery Industrialisation Centre (UKBIC)coreStrategic or Co-development Partner · 5 May 2026UKBIC is part of the ReCAM consortium with Watercycle Technologies, Recyclus Group, and Polaron, funded through the UK's £452m Battery Innovation Programme. The consortium is developing a modular lithium-ion battery recycling technology (ReCAM) that converts black mass directly into cathode active material. UKBIC provides the national battery manufacturing and scale-up infrastructure for testing and validating the recycled cathode materials at battery-grade quality.
• Recyclus Group LtdcoreStrategic or Co-development Partner · 5 May 2026Recyclus Group, an affiliate of Technology Minerals PLC, is part of the ReCAM consortium developing modular battery recycling technology. Recyclus will host a pilot-scale ReCAM unit at its Wolverhampton plant with 250kg per hour processing capacity. Watercycle contributes its short-loop refining process, Polaron provides AI-driven materials optimisation, and UKBIC provides scale-up infrastructure.
• PolaroncoreTechnology or Integration · 5 May 2026Polaron is part of the ReCAM consortium providing its AI-based materials platform to characterise and optimise recycled cathode materials, linking process conditions to microstructure and performance. Polaron's AI-driven cell design technology accelerates the transition from recycled materials to electrodes and cells. The AI platform optimises the recycled cathode's microstructure and performance for battery-grade use.
• Tees Valley Lithium (TVL)coreStrategic or Co-development Partner · 12 February 2026Watercycle signed MoU with TVL to integrate on-site lithium recovery using deployed modular technology, unlocking up to c.US$16 million per annum of additional value through improved lithium recovery (~800 tonnes per annum LCE). Non-binding Heads of Terms cover supply of up to 50,000 tonnes of recycled lithium feedstock over five years from 2028. The modular recovery solution will be delivered under a Build, Own and Operate model. Watercycle also partnered with Circulor through TVL to embed digital tracking capability for EU Battery Regulation compliance.
• Circulor UK LimitedsupportingTechnology or Integration · 12 February 2026TVL partnered with Circulor (not directly with Watercycle) to provide digital tracking and digital product passport solutions for the EV and battery materials sectors. Circulor's platform records material inputs/outputs across the refinery and enables measurement of recycled content at a batch level. This supports EU Battery Regulation compliance (digital passports from 2027, minimum 6% recycled lithium by 2031) that benefits the Watercycle-TVL partnership.
• Yacimientos de Litio Bolivianos (YLB)flagshipStrategic or Co-development Partner · 22 July 2025Watercycle was shortlisted by Bolivia's state-owned lithium company YLB to demonstrate its DLEC™ technology on brines from Uyuni and Pastos Grandes salt flats. YLB holds the world's largest lithium deposits. The YLB delegation visited Watercycle's Manchester headquarters and Runcorn facilities to review technological advancements. This represents a flagship international validation and potential entry into the world's largest lithium market.
• Primobius GmbHcoreStrategic or Co-development Partner · 3 March 2025Watercycle entered a cooperation agreement with Primobius (a joint venture between Neometals Ltd and SMS group GmbH) to optimise battery recycling processes and sustainable critical minerals extraction. Primobius provides a two-step hydrometallurgical recycling process for end-of-life and scrap lithium-ion batteries. The partnership will evaluate potential for deeper commercial collaboration on circular economy-focused projects across Europe.
• Empresa Nacional de Minería (ENAMI) - ChileflagshipStrategic or Co-development Partner · 16 September 2024Watercycle was selected from 30 international contenders by Chile's state-owned mining body ENAMI to showcase its DLEC™ technology for lithium exploration in the Atacama Region. ENAMI issued a Request for Information for innovative technology meeting economic, social, and environmental requirements. This selection from among major competitors (Rio Tinto, Eramet) represents a flagship international validation of Watercycle's technology.
• EWaste AfricacoreStrategic or Co-development Partner · 29 April 2024Watercycle signed MoU with EWaste Africa, a South African electronic and lighting waste management company, to advance sustainable lithium recovery from spent LFP batteries. The partnership aims to establish a ton-scale battery recycling system at EWaste Africa's facility, serving the Southern African Development Community (SADC) region. LFP chemistries are growing in Africa due to lower cost than cobalt-rich NMC chemistries.
• Altamin LimitedcoreStrategic or Co-development Partner · 23 April 2024Watercycle signed an agreement with Altamin (ASX:AZI) to test its DLEC™ technology on brines from Altamin's Galería EL geothermal brine project in Lazio, Central Italy. Watercycle successfully produced battery-grade lithium carbonate from synthesised brines representing the range of compositions from two geothermal wells, validating DLEC™ for Italian brines and supporting Altamin's >2Mt LCE maiden resource estimate.
• Cobra Resources PlcsupportingTechnology or Integration · 19 September 2023Watercycle entered MoU with Cobra Resources (LSE-listed rare earth exploration company) to collaborate on rare earth extraction from ionic REE deposits at Cobra's Boland discovery in South Australia. Watercycle's membrane desorption and filtration technology will be evaluated for REE extraction suitability. This extends Watercycle's technology platform beyond lithium to other critical minerals.
• Weardale Lithium LimitedcoreStrategic or Co-development Partner · 12 May 2023Watercycle successfully produced lithium carbonate from Weardale's geothermal brines from Eastgate in County Durham using DLEC™. This validated Watercycle's technology for North East England brines. Weardale plans to construct a pilot demonstration plant at Eastgate targeting 10,000 tonnes of lithium carbonate per year, potentially generating £1bn of gross economic value for the North East region.
• RSBruce Metals and Machinery LtdcoreStrategic or Co-development Partner · 2 May 2023Watercycle partnered with Sheffield-based RSBruce, a globally renowned precious metal recovery specialist, to recover lithium carbonate, graphite, and other minerals (cobalt, nickel, manganese) from black mass. Successfully completed a feasibility study on 1 kg of black mass, recovering commercial-grade lithium carbonate and near-100% graphite. Partners are now working towards developing a tonnage-scale pilot plant at RSBruce's Sheffield facility.
• Cornish Lithium LtdcoreStrategic or Co-development Partner · 2 November 2022Watercycle received a £500,000 Innovate UK Smart Grant in partnership with Cornish Lithium to test its DLE process on Cornish geothermal brines. Watercycle delivered a containerised filtration system for pilot-scale lithium extraction at Cornish Lithium's project in Cornwall. This partnership validated Watercycle's technology on UK brines and was supported by Innovate UK.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lilac Solutions: Lilac is a US-based direct lithium extraction company using ion-exchange bead technology to extract lithium from brine. Direct peer to Watercycle's DLEC, both serve lithium brine resource owners with modular DLE systems targeting the same OEMs and refiners.
• Energy Exploration Technologies (EnergyX): EnergyX is a US-based DLE company developing LiTAS membrane and electrochemical lithium extraction technologies. Direct competitor to Watercycle in the DLE technology space, focused on South American salars and US Permian brines with similar go-to-market targeting lithium brine resource owners.
• Standard Lithium: Standard Lithium is a TSX-listed DLE developer targeting lithium extraction from Smackover brines in Arkansas using proprietary LiSTR direct extraction technology. Direct peer competing for the same lithium brine resource owner customer segment with comparable modular, end-to-end crystallisation approach.
• Vulcan Energy Resources: Vulcan is a Europe-based geothermal lithium developer using adsorption-based DLE in the Upper Rhine Valley, Germany. Highly comparable to Watercycle as a European DLE competitor extracting lithium from geothermal brines with end-to-end battery-grade lithium hydroxide production.
• E3 Lithium: E3 Lithium is a Canadian DLE developer commercialising proprietary ion-exchange lithium extraction technology targeting Leduc brines in Alberta. Direct peer to Watercycle in the lithium-from-brine DLE category with comparable resource owner customer model.
• International Battery Metals (IBAT): IBAT is a US-based DLE company that commissioned one of the first commercial modular DLE systems. Direct competitor to Watercycle offering modular, rapidly deployable lithium extraction systems to brine resource owners on a similar business model.
• Summit Nanotech: Summit Nanotech is a Canada-based DLE company developing denaLi™ direct lithium extraction technology for South American salars. Direct peer to Watercycle competing for lithium brine extraction contracts with similar go-to-market.
• Li-Cycle: Li-Cycle is a Canada-based lithium-ion battery recycler using a hydrometallurgical process to recover critical minerals from black mass. Direct peer to Watercycle's ReCAM battery recycling offering, both targeting the same battery recycler and OEM customers with hydrometallurgical recovery solutions.
• Sunresin: Sunresin is a China-based manufacturer of ion-exchange resins and adsorption materials used in DLE operations and battery recycling. Direct peer in the lithium extraction materials category, supplying the broader DLE ecosystem including competing DLE technology providers.

Broad incumbents

• Redwood Materials: Redwood Materials is a US-based, well-funded battery recycling and cathode active material producer founded by JB Straubel. Broad incumbent in the battery recycling space overlapping with Watercycle's ReCAM short-loop refining, though operating at much larger scale with vertical integration into battery manufacturing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/watercycle-technologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Watercycle Technologies