Altillion announced it has secured $5 million in seed funding to accelerate the commercialization of its proprietary IRIS and ALIX technologies for extracting valuable minerals from oilfield produced water, geothermal brines, and salars. The funding round was led by EIC Rose Rock and Flathead Forge.
Altillion is focused on brine mineral extraction technology. Its platform is designed to extract critical minerals such as iodine, lithium, copper, bromine, magnesium, and other high-value elements from complex brine feedstocks.
The company said the oil and gas industry generates about one trillion gallons of produced water each year. Historically, this wastewater byproduct has been viewed as a disposal challenge. Altillion’s technology is designed to turn that produced water into a source of recoverable minerals.
The company also sees opportunities in geothermal brines, which are produced in the hundreds of billions of gallons annually, and salar brines, which generate about 30 billion to 50 billion gallons per year.
Altillion said its technologies can extract minerals from these sources on site without disrupting operations. This enables companies to monetize mineral value that was previously stranded while helping strengthen the domestic critical mineral supply chain.
The company’s approach also supports the broader industry shift toward integrated resource recovery. By extracting minerals from existing brine and wastewater streams, operators can potentially diversify revenue, reduce environmental liability, and contribute to energy security without requiring new extraction infrastructure.
Along with the financing announcement, Altillion launched a refreshed brand identity and redesigned website reflecting its focus on commercial-scale recovery of critical minerals from complex brines.
Altillion’s IRIS and ALIX technology platforms enable the extraction, concentration, and purification of iodine, lithium, copper, and other high-value elements. The company said its low-footprint solutions are designed to reduce cost, maximize recovery, and simplify downstream processing.
EIC Rose Rock is a long-term partnership between George Kaiser Family Foundation’s technology-focused development arm, multiple Fortune 500 energy companies, and Energy Innovation Capital. The firm provides early-stage funding for entrepreneurs developing energy technologies that advance diversification, improve sustainability, and enhance operational efficiency across oil and gas assets.
Flathead Forge is a Houston-based opportunity builder focused on hard-tech for water and critical minerals. The firm backs founders and forms companies that convert industrial waste streams, including produced water, brines, and waste gas, into purified water, critical minerals, and other valuable products.
KEY QUOTES:
“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 strategically accelerate this impact and is very timely given the current geopolitical dynamics.”
Jay Keener, CEO of Altillion
“We are excited to partner with Altillion to scale and deploy these world-class technologies to access the vast wealth hidden in wastewater. 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.”
David Clouse, Managing Director of EIC Rose Rock
“Altillion sits right at the intersection of water and critical resources, which is exactly where we focus. 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.”
Doug Lee, Managing Director of Flathead Forge
