Sqm Lithium Ventures Invests 2 Million In Chilean Startup Movener
- Founded in 2016, the startup targets significant reductions in fuel use and greenhouse gas emissions.
- The funding will enhance Movener’s commercial rollout in Chile and globally, focusing on sustainable transportation solutions.
This is part of SQM’s accelerated efforts to innovate within the electromobility sector, particularly through enhancing hybrid-electric vehicle technologies. The announcement was made during their latest funding round aimed at expanding Movener’s market reach both in Chile and internationally.
Founded by Gonzalo Pacheco and Patricio Novoa in 2016, Movener has developed a conversion technology that transforms combustion-engine trucks into hybrid-electrics. This innovation is designed to decrease fuel consumption, reduce maintenance costs, and lower greenhouse gas emissions. Pacheco highlighted the technology’s benefits and its contribution to sustainable transportation during the announcement.
The investment will support Movener’s upcoming commercial endeavors and further development of its hybrid technology. The company has already established partnerships with major corporations like Walmart and has initiated pilot projects and early adoption phases with other significant industry players. Looking forward, Movener aims to enhance the efficiency of their technology, targeting a 25% reduction in fuel consumption, an improvement from the current 20% savings achieved with their installations.
