In the heart of Ukraine, a forward-thinking start-up is challenging how Europe thinks about lithium. Novel Metals and Compounds LLC, previously Unconventional Lithium Production, is on a mission to reduce Europe’s dependence on traditional mining by extracting lithium from an unlikely source: the formation fluids of oil and gas wells.
Their goal? To build a faster, cleaner, and smarter route to lithium, an element that’s powering the world’s shift to electric vehicles and clean energy storage.
In 2024, the team joined the EIT Jumpstarter programme under the EIT RawMaterials category. What began as an ambitious idea quickly turned into a registered company.
“Without Jumpstarter we would stay with our idea and would not try to implement it in a real business,” says founder Mykola Aliyev.
Through workshops, expert mentoring, and pitch training, the team transformed their concept into a functioning start-up. Notably, their participation opened doors: they were able to present their solution to the two largest oil and gas companies in Ukraine.
While these talks have yet to result in formal partnerships, they represent a significant step forward in a highly regulated and conservative industry.
Traditional lithium production methods are slow, resource-intensive, and often face environmental resistance. Meanwhile, every year billions of litres of lithium-rich formation water are treated as waste and reinjected underground by oil and gas producers.
Novel Metals and Compounds LLC offers a disruptive alternative. Using Direct Lithium Extraction (DLE), their technology recovers lithium from these underutilised water streams, turning waste into a critical resource. It’s a solution that fits squarely into the circular economy and has the potential to reshape how lithium is sourced across Europe.
The impact of their participation in EIT Jumpstarter is already visible. The team has secured collaboration with two companies—one in Ukraine and another in Germany—and is now in discussions with a third, a Ukrainian oil firm, to begin R&D and testing of lithium concentrations in formation fluids.
With no similar projects currently in Ukraine, their work is not only innovative but pioneering. They are also actively seeking partnerships in Romania, where similar oilfield conditions exist, suggesting clear potential for regional scale-up.
The next phase for the start-up focuses on validating the technology through real-world testing with oil and gas partners. Once confirmed, their approach could serve as a blueprint for other regions with similar geological profiles, particularly across the EU.
They’re not just building a company. They’re laying the groundwork for a more resilient, sustainable, and locally anchored lithium supply chain.
Metals and Compounds LLC is turning overlooked resources into strategic assets.
Curious how the EIT Jumpstarter programme helps bring bold ideas like theirs to life? Learn more about the EIT Jumpstarter programme.
Connect with Mykola Aliyev: LinkedIn
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