Magrathea Metals develops a carbon-neutral electrolytic process to extract magnesium metal from seawater and waste brines, targeting industrial customers in defense, automotive, and aerospace. The San Francisco-based company operates a pilot facility in Oakland, California and is building the first new U.S. magnesium smelter to reduce reliance on Chinese supply. Founded by CEO Alex Grant, it has signed a joint-venture term sheet with TETRA Technologies and an offtake distribution partnership with Wogen.
1
Round
4
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May 5, 2026
Latest raise
Funding activity · 1 round
May 5, 2026
$24M
Series A
Led by Balerion Space Ventures
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