Olokun Minerals

Olokun Minerals is a climate tech company focused on addressing global water security and the critical minerals supply chain by extracting valuable minerals from industrial brine wastewater. Founded in 2021 by CEO Lacey Reddix and CTO Pilanda Watkins-Curry, the Richmond, Virginia-based firm is developing a process to create a new, sustainable source for minerals essential for renewable energy and infrastructure. The founders, who met at Spelman College, were inspired to find a solution to the environmental challenges of desalination. Reddix's background in watershed management and Watkins-Curry's doctorate in chemistry form the foundation of the company's approach.

The company's core technology targets the highly saline wastewater, or brine, produced by desalination plants, geothermal energy operations, and oil and gas extraction. This brine is often discharged back into the environment, posing a threat to marine ecosystems. Olokun Minerals intercepts these brine streams to harvest minerals before they become waste. The firm utilizes a chromatography process with a proprietary resin, developed in partnership with the National Renewable Energy Lab, to separate multiple minerals simultaneously. This method is designed to be more efficient and have a smaller environmental footprint than traditional extraction techniques, which often rely on harsh chemicals and can only target one mineral at a time.

Olokun Minerals operates on a 'mining as a service' or 'filtration as a service' business model, partnering with companies in water treatment, energy, and mining to process their wastewater. This creates a potential new revenue stream for its clients by turning a waste byproduct into sellable commodities. The extracted minerals, such as lithium, magnesium, and calcium, are key components for high-demand industries. These include manufacturing batteries for electric vehicles, producing aluminum and steel, and creating aggregates for concrete. By domestically sourcing these materials, the company aims to reduce the United States' reliance on foreign mineral supplies. The company closed a $1.1 million pre-seed funding round in early 2023, led by Propeller Ventures, to scale its operations and advance commercialization efforts.

Keywords: mineral extraction, brine mining, water treatment, circular economy, critical minerals, desalination brine, sustainable mining, green technology, resource recovery, lithium extraction, magnesium sourcing, industrial wastewater, cleantech, chromatography, supply chain solutions, climate tech, renewable energy materials, water security, battery materials, infrastructure components, waste valorization, National Renewable Energy Laboratory