SQMi invests in vehicle conversion technology

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26 de abril de 2024

SQM Lithium Ventures will invest up to US$2 million in Movener, a Chilean startup founded in 2016 that has developed a conversion technology to transform combustion-engine trucks into hybrid-electrics.

The funding will help Movener with upcoming commercial endeavours and to further develop its hybrid technology. The company has already formed partnerships with large companies and has begun trial projects and initial implementation phases with other important players in the industry, it said.

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.

The investment will help drive the technology that will enable SQM to meet its environmental goals, which include reducing the use of groundwater by 40% by 2030 and decreasing brine extraction in the Atacama salt flat by 50% by 2030.

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