Mangrove Water Technologies Ltd. (Mangrove Lithium) announced an up to US$85-million (116,141,025 CAD) structured financing led by Canada Growth Fund (CGF), with participation from existing investors including Breakthrough Energy Ventures and BMW i Ventures, alongside a US$9-million Clean Technology Manufacturing Investment Tax Credit–backed loan underwritten by National Bank of Canada. The financings will support the commercialization and implementation of Mangrove Lithium’s electrochemical lithium refining technology across Canada and internationally. Mangrove Lithium is an industry-leading Canadian cleantech company developing a feedstock-flexible refining platform that produces battery-grade lithium hydroxide or lithium carbonate, aimed at supporting the growing global demand for EV and energy storage battery materials. CGF is a $15-billion arm’s-length public investment vehicle mandated to attract private capital and help build Canada’s clean economy. Osler, Hoskin & Harcourt LLP advised Mangrove Lithium, with a team comprising Justin Young, Martin Smith and Alexander Pescitelli (Emerging and High Growth Companies) and Martha Martindale and Matthew Li (Financial Services).