Canada’s Growth Fund invests $65M in Mangrove Lithium to build a clean lithium plant in B.C., supporting EV production and domestic supply.

The Canada Growth Fund has committed up to US$65 million in a US$85 million financing round for Mangrove Lithium, a Delta-based cleantech company developing cleaner lithium refining technology. The investment supports the operation of its first commercial facility in British Columbia, capable of producing materials for about 25,000 electric vehicles annually, and advances a larger plant expected to supply over 500,000 EVs per year. The funding, backed by existing investors including Breakthrough Energy Ventures and BMW i Ventures, aims to strengthen Canada’s domestic lithium supply chain, reduce reliance on foreign sources, and support high-skilled job creation. The project uses a novel financing model involving future tax credits and is part of broader efforts to boost North American energy security and clean technology leadership.