Transition Metal Solutions Closes Oversubscribed $6 Million Seed Round
Transition Metal Solutions, an initiative to increase copper production from existing mining operations and waste, today announced an oversubscribed USD 6 million seed round led by Transition Ventures, with participation from leading climate and deep-tech investors from the US, Europe and Australia.
Transition Metal Solutions, a venture increasing copper production from existing mining operations and waste, announced today an oversubscribed USD 6 million seed round led by Transition Ventures with participation from leading climate and deep tech investors from the United States, Europe and Australia.
The company's proprietary platform analyzes microbes living in an ore deposit and predicts, tests and formulates chemical additives to optimize specific wild biology and generate more copper. The concept emerged following work at a major copper mine where some stacks produced significantly more copper than expected.
When tested on low-grade primary sulfur ore, laboratory results showed an increase in copper recovery from 60% to 90%. Experiments on ore with challenging mineralogy achieved in-situ acid production and metal leaching three times faster than industry standard.
The investment comes amid rising copper demand driven by energy transition, renewable energy, electric vehicles and artificial intelligence data centre construction. Global copper demand is expected to increase by 50% by 2040.
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