Alta Resource Technologies Raises $5.1M to Revolutionize Mineral Separation
Alta Resource Technologies, a pioneering company in the use of advanced biochemistry for mineral separation, has successfully raised $5.1 million in an oversubscribed seed funding round. This significant investment was co-led by DCVC and Voyager Ventures, with additional participation from Orion Industrial Ventures, Overture, and WovenEarth Ventures.
The company, headquartered in Boulder, Colorado, is on a mission to revolutionize the mining industry by leveraging customizable proteins to separate high-purity rare earth elements and other essential minerals from previously untapped sources with unprecedented selectivity. This innovative approach aims to dramatically reduce the environmental footprint of mining while expanding access to vital resources necessary for powering next-generation technologies and bolstering economic security.
Alta Resource Technologies’ advanced biochemistry platform utilizes technology licensed from Lawrence Livermore National Laboratory and developed in collaboration with researchers at Pennsylvania State University. This breakthrough technology enables the design of proteins that act like microscopic robots to separate critical minerals with unprecedented efficiency and cost-effectiveness. The ability to tailor proteins to selectively bind to individual elements greatly enhances the potential for mineral separation and processing, offering a significant advancement over existing methods.
The funding will support the company’s efforts to further develop and de-risk its platform in collaboration with Lawrence Livermore National Laboratory and deploy it across a growing range of metal targets, ore types, and waste streams. By unlocking new ways to provide high-purity, domestic critical minerals at previously unattainable low costs, Alta Resource Technologies aims to catalyze a long-overdue revolution in mining technology and secure the domestic supply of critical resources for the 21st century economy.
In conjunction with the funding announcement, Alta Resource Technologies revealed that it has secured nearly $1 million in grant funding from the federal government, including support from the U.S. Department of Defense’s DARPA and the State of Colorado. Previous funding was provided by Baruch Future Ventures and Climate Capital, now known as Juniper.
James Hardiman, General Partner at DCVC, emphasized the potential impact of Alta Resource Technologies’ technology, stating, “What fracking did for oil and gas technologically, Alta is poised to do for critical minerals, and the geopolitical and economic implications could be just as profound. It exemplifies our thesis that the deepest science and engineering can solve the hardest global problems and create immense commercial value at the same time. The market is clamoring for solutions, and Alta has assembled an unsurpassed team at the perfect moment to seize a generational opportunity.”
Leo Banchik, PhD, Investment Director at Voyager Ventures, highlighted the transformative potential of Alta Resource Technologies’ platform, noting, “Alta is pioneering an entirely new approach to critical mineral production through advanced biochemistry. The team has developed a breakthrough platform that combines advanced protein engineering with industrial-scale processing to extract and refine critical materials with unprecedented efficiency at breakthrough cost levels. This creates both an incredible business opportunity and a chance to secure strategic mineral supply chains.”
With this significant investment and grant funding, Alta Resource Technologies is well-positioned to drive a revolution in mining technology and address the growing demand for critical minerals essential for electric vehicles, consumer electronics, and advanced defense systems.
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