b'Presidio Ventures Invests in SustainableLithium Extraction Technology his October, Presidio Ventures, SCOAs Corporate Venture arm, joined a Series B funding round for Lilac Solutions, Inc. (Lilac), a lithium extraction company headquartered in Oakland CA. Lilac will use thisfunding to expand its global team, build a factory in the United States to produce the companys uniqueLilacsion-exchange beads, and deploy Lilacs lithium extraction technology for projects throughout the United States,technology hasSouth America and Europe. the potential to catalyzeLithium production andincrease supply, a welcomesolution to the growingdemand for globalelectrification.a serious bottleneck. The lithium industry has beenLilacs platform strategically aligns with SCOAs goal plagued with technical and environmental problemsof reducing CO2 emissions by 2050. In the coming that have put future supply in jeopardy. Lilacs tech- years, SCOAs Mineral Resources Group will shift its nology solves the fundamental challenges of lithiumfocus to target lithium. Similarly, SCOAs Infrastruc-production from brine resources, and our team isture Group will change its reliance on fossil fuels to re-thrilled to deploy globally with support from investorsnewable energy sources, including geothermal power.like Presidio Ventures and its parent company, SCOA. This investment cements SCOAs integrationPresidio Ventures anticipates a myriad of opportu- throughout the lithium supply chain, with partnerships nities to help scale and apply Lilacs unique solutionranging from extraction to reuse. With a lithiumthroughout the companys vast business network.shortage predicted in 2025, Lilacs technology can SCOA has extensive experience within the globalscale the global push toward sustainable electrification. mining sector and possesses a vast network of indus- SCOA and Presidio are excited to contribute to the try partners and suppliers. Lilacs technology has theexpansion of lithium supply as demand continues potential to catalyze Lithium production and increaseincreasing and scale Lilacs products toward building a supply, a welcome solution to the growing demand forsustainable world.global electrification.Sumitomo Corporation of Americas 11'