SQM Invests US$2 Million in Chilean Start-Up

SQM Lithium Ventures announced a significant investment of up to US$2 million in Movener, an innovative Chilean startup that has developed the “Movener ePower Kit”, a solution aimed at transforming combustion diesel trucks into hybrid electric vehicles.

This investment represents a new milestone in the strategy of SQM Lithium Ventures, the corporate venture capital arm of SQM’s Lithium business, one of the world’s leading producers of battery-grade lithium chemicals.

Movener is the fourth company in which SQM invests, the second in the electromobility vertical, and joins other leading companies in the lithium and water verticals, such as Salinity Solutions (UK), Altilium Clean Technology (UK) and Electric Era (USA).

Photo: SQM

Read also: Copec Unveils World’s Southernmost Fast Charger

Movener’s Focus

Movener stands out for its innovative approach to improving the carbon footprint of transportation through the development of its “hybrid” conversion kit, which enables an efficient and cost-effective transition to hybrid electrification of trucks.

According to local press reports, its technology is agnostic and focuses on reducing fuel consumption and greenhouse gas emissions.

The company was founded by mechanical civil engineer Gonzalo Pacheco, an outstanding professional with more than 14 years of experience in the electromobility sector and a solid academic background in innovation and business management, has obtained an invention patent for its revolutionary product.

During the year 2023, it was one of the startups selected to participate for 5 weeks in the Hero Training program at Draper University in San Mateo, Silicon Valley, CA, USA. After this technical and commercial immersion, the company is preparing its entry into the US and Mexican markets, hand in hand with important allies.

SQM Lithium Ventures‘ investment in Movener will facilitate the commercial expansion of the “Movener epower Kit”, thus enhancing its positive impact on the transportation industry worldwide.

Latam Mobility in Chile

In August, Latam Mobility, the largest sustainable mobility community in Latin America, will once again arrive in Santiago de Chile for its 2024 meeting.

The two-day event will bring together the most prominent industry leaders, along with public sector personalities, to offer their perspectives on advances in low-emission mobility, electromobility and sustainability.

More information about the meeting and participation here

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