The company is SQM Lithium Ventures’ fourth investment, joining the UK-based companies Altilium Clean Technology and Salinity Solutions, as well as Electric Era in the US.
The funding will help Movener with upcoming commercial endeavours and to further development its hybrid technology. The company has already formed partnerships with large companies such as Walmart and has begun trial projects and initial implementation phases with other important players in the industry.
Moving forward, Movener seeks to improve the effectiveness of its technology, aiming for a 25% decrease in fuel consumption, an enhancement from the current 20% savings obtained with their systems.
SQM’s environmental goal include reducing the use of groundwater by 40% by 2030 and decreasing brine extraction in the Atacama salt flat by 50% by 2030.
