Baniql

Baniql is a technology company.

Active

Updated: Mar 21, 2026 ·

About

Baniql develops advanced electrochemical and mechanical reactor technology for the sustainable extraction of high-purity nickel and cobalt. Their patented process specifically targets the lithium-ion battery production sector, improving the efficiency and environmental footprint of critical mineral sourcing. This innovative approach integrates electrochemistry principles to refine nickel extraction, primarily from laterite ores, offering a more responsible method for obtaining these essential materials.

The company was founded in 2021 in San Jose, California, by Willy Halim, who serves as CEO and Co-Founder, and Connie Diaz, a founder. Baniql emerged from the insight that the burgeoning demand for electric vehicles and renewable energy storage necessitated a cleaner, more efficient approach to acquiring key battery components. The founders recognized the opportunity to address significant sustainability challenges inherent in traditional mineral extraction.

Baniql serves manufacturers within the global lithium-ion battery supply chain who require sustainably sourced raw materials. The company's vision is to establish a new standard for mineral extraction, aiming to provide essential battery components with a significantly reduced environmental impact and more robust supply chains. They are focused on enabling greener energy solutions by transforming how critical minerals are produced.

Recent News & Mentions

May 1, 2024FundingBaniql - Seed

Financial History

Baniql has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in May 2024.

Total Raised

$2.0M

Valuation

N/A

Funding Rounds Raised

Date	Round	Lead Investors	Other Investors
May 1, 2024	$2.0M Seed		BEENEXT

Financial History

Baniql has raised $2.0M across 1 funding round.

Total Raised

$2.0M

Valuation

N/A

Deep Dive

BANIQL is a cleantech metallurgy company developing a low‑temperature, low‑pressure chemical process to extract high‑purity nickel (and cobalt) from laterite ores for lithium‑ion battery supply chains, emphasizing lower energy, water use, and non‑toxic waste compared with conventional methods[2][3]. BANIQL has built lab and pre‑pilot capability, holds at least one published U.S. patent with others pending, and reports secured ore supply and early seed funding as it moves toward scale and licensing or JV commercialization[2][3].

High‑Level Overview

Mission: BANIQL’s stated mission is to produce nickel for lithium‑ion batteries in an environmentally responsible way by using patented chemistry and reactor design to reduce energy, water, and toxic waste footprints[2][3].- Investment philosophy / (for a portfolio company context): As a startup, BANIQL is pursuing technology‑led commercialization via patents, strategic partnerships, and potential licensing or joint‑venture models rather than building full scale mining operations itself[2][3].- Key sectors: The company sits at the intersection of mining/metallurgy, battery materials for electric vehicles and energy storage, and circular/green technologies aimed at decarbonizing supply chains[1][2].- Impact on the startup ecosystem: BANIQL contributes an example of hardware + chemistry deep tech addressing battery raw‑material bottlenecks and environmental issues, potentially enabling lower‑impact nickel supply and new off‑take or licensing opportunities for downstream battery and EV firms[1][2][4].

Origin Story

Founding and early development: BANIQL was founded around 2021 and is incorporated in California with labs and a Delaware holding structure; the company reports establishing initial labs in Santa Clara and filing its first patent followed by at least one patent publication and additional filings[1][3].- Founders / background & idea emergence: Public materials emphasize a team with electrochemistry and reactor engineering expertise that combined an electrochemical approach with a mechanical reactor (BEST™) to enable atmospheric, low‑temperature leaching versus traditional high‑pressure, high‑temperature routes[3][4].- Early traction / pivotal moments: Reported milestones include third‑party validation of MVP samples in South Korea, winning a Climate Impact Innovation Challenge, securing approximately $1.65M in seed financing, obtaining supply of over 20 tonnes of Indonesian laterite ore for R&D, and completing a 100 kg/month pre‑pilot plant in Q4 2024 with trial production underway[2][3].

Core Differentiators

Patented chemistry + reactor design: BANIQL’s BEST™ system claims selective nickel/cobalt extraction at ambient pressure and lower temperatures enabled by proprietary chemistry and a mechanical reactor, which the company highlights as its primary IP moat[3][4].- Environmental footprint: The process is positioned to use significantly less energy and water and to produce recyclable, non‑toxic solid by‑products, targeting net‑zero toxic waste and lower CO2 emissions relative to HPAL (high‑pressure acid leach) and some conventional routes[2][4].- Downstream readiness and supply access: The company reports secured ore supplies from Indonesia and export channels to South Korea and the U.S., plus in‑house labs and third‑party analytical partnerships for sample validation[2][4].- Commercial strategy: Rather than vertically integrate into large‑scale mining, BANIQL emphasizes licensing, joint ventures, and technology partnerships as go‑to‑market pathways[2].

Role in the Broader Tech Landscape

Trend alignment: BANIQL is riding the accelerating demand for battery‑grade nickel driven by EV and energy‑storage growth, where supply constraints and ESG scrutiny make lower‑impact refining technologies strategically important[1][3].- Timing: Large anticipated increases in nickel demand and strong focus on decarbonizing critical‑minerals supply chains create near‑term market pull for greener extraction methods[1][4].- Market forces in its favor: Concentration of laterite reserves in Indonesia, pressure from OEMs and regulators for cleaner supply chains, and rising costs/limitations of HPAL and other legacy processes support adoption of alternative hydrometallurgical or electrochemical solutions[1][4].- Influence: If BANIQL’s pre‑pilot results scale economically and meet purity specs, the company could enable new regional refining capacity closer to ore sources or downstream battery manufacturers via licensing, reducing transport, waste, and emissions in the nickel value chain[2][4].

Quick Take & Future Outlook

What’s next: Near‑term priorities implied by the company’s disclosures are completing pre‑pilot validation, scaling demonstrations, advancing patent portfolio, securing strategic licensing/JV partners, and progressing sample‑to‑offtake evaluations with battery or stainless steel producers[2][3].- Shaping trends: Key trends that will shape BANIQL’s trajectory include global nickel demand growth for EVs, OEM and policy pressure for low‑carbon materials, capital availability for scaling metallurgical pilots, and comparative techno‑economic performance versus HPAL and other emerging hydrometallurgical routes[1][4].- Potential influence: Successful scale‑up could make BANIQL a valuable technology licensor to mining and refining groups, accelerating lower‑impact nickel supply; failure to demonstrate cost or purity parity would limit adoption to niche use cases[2][4].

Core sources: BANIQL’s corporate site (about, technology, news) and a CB Insights company profile documenting product focus, founding year, and market positioning[2][3][1].

Sources

Frequently Asked Questions

How much funding has Baniql raised?

Baniql has raised $2.0M in total across 1 funding round.

Who are Baniql's investors?

Baniql's investors include BEENEXT.