Altillion Raises $5M in Seed Funding Led by Flathead Forge

The company plans to use the funding to speed up the commercialization of its extraction technology, set up local pilot facilities, and expand its operations to build a domestic supply of critical minerals.

The oil and gas industry produces about one trillion gallons of wastewater each year, along with billions of gallons of geothermal and salar brines. Altillion turns these waste streams into valuable resources by extracting critical minerals such as lithium, iodine, copper, bromine, and magnesium directly at production sites. This helps companies generate new revenue, reduce waste, and strengthen the domestic supply of critical minerals without building new mining infrastructure.

The company's technology supports the growing focus on recovering valuable resources while improving environmental sustainability and energy security. Along with announcing the new funding, Altillion has also introduced a new brand identity and redesigned its website to highlight its focus on commercial-scale critical mineral recovery.

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Jay Keener, Altillion’s CEO, said, “Altillion’s efficient and scalable technologies are needed more than ever to reshape critical mineral recovery and facilitate beneficial use of oilfield brines. We’re uniquely positioned to provide a stable, domestic supply of the critical minerals needed for electronics, batteries, healthcare and national defense technologies. This investment from EIC Rose Rock and Flathead Forge enables us to accelerate this impact strategically and is very timely given the current geopolitical dynamics.”

“We are excited to partner with Altillion to scale and deploy these world-class technologies to access the vast wealth hidden in wastewater,” said David Clouse, Managing Director of EIC Rose Rock. “With Altillion, we’re expanding our ability to empower the energy industry to domestically source the critical minerals America needs for a robust economy and supply chain.”

“Altillion sits right at the intersection of water and critical resources, which is exactly where we focus,” said Doug Lee, Managing Director of Flathead Forge. “The hardest step in hard-tech is moving from a proven concept to commercial scale, and this is a team built to make that leap. We’re proud to back their work turning wastewater and brines from a liability into a reliable domestic source of critical minerals.”

About Altillion

Founded in 2023 by Jay Keener and Scott Buckwald, Altillion develops technology to recover critical minerals from complex brine sources. Its proprietary IRIS and ALIX platforms help extract and purify minerals such as lithium, iodine, and copper efficiently. With an experienced team, the company provides scalable, cost effective solutions that improve mineral recovery while reducing processing costs, and environmental impact.

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