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SQM Lithium Ventures will invest up to $2 million in Movener, a Chilean startup founded in 2016 that has developed a conversion technology to transform combustion-engine trucks into hybrid-electrics. , and its goal to reduce the carbon footprint of transport is in line with SQM’s target of reaching carbon neutrality by 2040, the lithium giant’s venture arm said.
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.Panama completes process of mining concession cancellations
The law was passed in November 2023 in response to the protests against First Quantum Minerals' Cobre Panama new contract.Glencore mulls mining investments in Nigeria
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