TULSA, Okla. and HOUSTON, June 29, 2026 (GLOBE NEWSWIRE) — Altillion, a leading technology innovator in brine mineral extraction, announced today that it closed $5 million in seed funding to accelerate the commercialization of its proprietary IRIS and ALIX technologies to extract a variety of valuable minerals from oilfield produced water, geothermal brines, and salars. The round was led by EIC Rose Rock and Flathead Forge.
The oil and gas industry generates approximately one trillion gallons of produced water annually – a wastewater byproduct historically viewed as a disposal challenge rather than an asset. Hundreds of billions of gallons of geothermal brine are also produced each year, while salar brines generate roughly 30 to 50 billion gallons per year. Altillion economically extracts critical minerals – iodine, lithium, copper, bromine, magnesium and others – from these feedstocks on site without disrupting operations, allowing companies to monetize previously stranded mineral value while strengthening America’s domestic critical mineral supply chain.
This approach aligns with the industry’s shift toward integrated resource recovery, enabling operators to diversify revenue streams, reduce environmental liability and contribute to energy security – all without requiring new extraction infrastructure.
Alongside the announcement of this financing milestone, Altillion has launched a refreshed brand identity and a redesigned website at www.altillion.com, reflecting the company’s sharpened focus on commercial-scale recovery of critical minerals from complex brines.
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 strategically accelerate this impact 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
Altillion is a value-driven innovator focused on unlocking critical minerals from complex brine sources. Through its proprietary IRIS and ALIX technology platforms, Altillion enables the efficient extraction, concentration, and purification of iodine, lithium, copper, and other high-value elements. Backed by a seasoned team with deep operational expertise, Altillion delivers scalable low-footprint solutions that drive down cost, maximize recovery and simplify downstream processing. By combining field-proven innovation with a commitment to economic and environmental performance, Altillion is reshaping the future of mineral recovery. To learn more, visit www.altillion.com.
About EIC Rose Rock
EIC Rose Rock is a unique long-term partnership between George Kaiser Family Foundation’s tech-focused development arm, multiple Fortune 500 energy leaders, and the premier venture capital fund, Energy Innovation Capital (EIC). EIC Rose Rock provides early-stage funding for visionary entrepreneurs developing energy technologies that advance energy diversification, improve sustainability, and enhance the operational efficiency of existing oil and gas assets. To learn more, visit www.eicroserock.com.
About Flathead Forge
Flathead Forge is a Houston-based opportunity builder in hard-tech for water and critical minerals. Forge backs founders and forms companies that turn industrial waste streams – including produced water, brines and waste gas – into purified water, critical minerals and other valuable products. Its principals are operators who have built, run and sold industrial water and energy companies, and that operating experience is applied inside its portfolio companies. To learn more, visit www.flatheadforge.com.
Press Contact:
Bethany Hilt
Hilt Strategic Communications LLC
[email protected]
Phone: +1 330.338.6633
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d5b30a3c-0e3b-46b1-b977-e12a2cb4f3ec
