Government welcomes Canada Growth Fund investment in Canadian cleantech company Mangrove Lithium

From: Department of Finance Canada

News release

January 15, 2026 – Delta, British Columbia – Department of Finance Canada 

Today, the Honourable Jill McKnight, Minister of Veterans Affairs and Associate Minister of National Defence, on behalf of the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, welcomed a strategic investment of up to US$65 million (approximately C$89.6 million) by the Canada Growth Fund in Mangrove Water Technologies Inc. (“Mangrove Lithium”), as part of a US$85 million structured financing package with BMW i Ventures and Breakthrough Energy Ventures.

The financing announced today will support operations at Mangrove Lithium’s first commercial facility, located in Delta, BC, while also advancing development of its next project, expected to power more than 500,000 electric vehicles annually. By supporting the growth of a fully integrated lithium supply chain using Canadian-developed technology, this partnership will strengthen Canada’s battery supply chain and economic resilience, resulting in the creation of high-quality, skilled jobs for Canadians.

The Government of Canada is committed to help build a greener economy by investing in clean technologies, supporting low-carbon infrastructure, and introducing regulations and incentives that encourage energy efficiency and emissions reductions. These actions aim to spur innovation, create sustainable jobs, and position Canada as a global leader in the clean economy.

Quotes

“Investing in Canadian cleantech is an investment in our economic sovereignty, and is crucial to building a competitive, low-carbon economy. The funding announced today for Mangrove Lithium will help create here at home a future where innovation thrives, jobs are created, and global competitiveness is advanced.”

– The Honourable François-Philippe Champagne,
Minister of Finance and National Revenue

“This investment is a win for Delta and for Canada’s energy future. By supporting Mangrove Lithium’s innovative technology, we’re creating good-paying jobs in our community, and we’re helping to secure a resilient, sustainable supply chain for the clean economy. This is about building economic prosperity while protecting our environment for generations to come.”

– The Honourable Jill McKnight,
Minister of Veterans Affairs and Associate Minister of National Defence

“To compete and lead on the global stage, Canada must invest in the industries that matter. Canada is focused on advancing critical minerals exploration and extraction and ensuring that the minerals mined in Canada are refined in Canada. By investing in homegrown lithium refining technologies, we are reinforcing our economic resilience, securing our natural resource sovereignty, and building the domestic supply chains that will power the next generation of Canadian industries. Such partnerships ensure that the jobs, the expertise, and the technology drive long term economic growth.”

– The Honourable Mélanie Joly,
Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

Quick facts

  • The Canada Growth Fund is a $15 billion arm’s length public investment vehicle launched by the federal government to attract private capital and invest in Canadian projects and businesses, which is led by Canada’s world-leading public sector pension professionals.

    • The Canada Growth Fund makes strategic investments to help Canada to meet the following national economic and climate policy goals:
      • Reduce emissions and achieve Canada’s climate targets;
      • Accelerate the deployment of key technologies, such as low-carbon hydrogen and carbon capture and sequestration;
      • Scale-up companies that will create jobs and drive productivity and clean growth across new and traditional sectors of Canada’s industrial base;
      • Encourage the retention of intellectual property in Canada; and,
      • Capitalize on Canada’s abundance of natural resources and strengthen critical supply chains to secure Canada’s future economic and environmental well-being.

  • Located in Delta, British Columbia, Mangrove Lithium is pioneering a feedstock-flexible, electrochemical lithium refining technology designed to produce battery-grade lithium hydroxide and lithium carbonate.

    • This innovative process offers significant environmental benefits, including lower carbon intensity and reduced waste compared to conventional refining methods.
    • Mangrove Lithium’s Delta commercial facility produces 1,000 tonnes of battery-grade lithium hydroxide per annum, equating to enough lithium for approximately 25,000 electric vehicles (EVs) a year.
    • Mangrove Lithium’s subsequent larger commercial lithium conversion facility, planned to be located in Eastern Canada, will produce 20,000 tonnes of lithium hydroxide per year, equating to enough battery-grade lithium for approximately 500,000 EVs per year.

Contacts

Media may contact:

John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
john.fragos@fin.gc.ca

Media Relations 
Department of Finance Canada 
mediare@fin.gc.ca 
613-369-4000

General enquiries

Phone: 1-833-712-2292 
TTY: 613-369-3230 
E-mail: financepublic-financepublique@fin.gc.ca

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2026-01-15