Ceibo, a sustainable mining technology company, has successfully concluded its Series B funding round, raising over $30 million. The funds will drive the advancement of its leaching process for more cost-effective and eco-friendly copper extraction.
Copper plays a crucial role in the transition to a low-carbon economy, with surging demand anticipated as various sectors embrace electrification for energy, transport, and industry. To address this, Ceibo, based in Santiao, Chile, offers a leaching method that boosts copper production while minimizing water usage and environmental impact. Traditionally, leaching was ineffective for copper located deep in the earth (where most reserves are found), necessitating resource-intensive concentration and smelting procedures. Ceibo’s innovation extends the application of leaching to these deeper reserves and seamlessly integrates with existing mining infrastructure.
The financing was spearheaded by Energy Impact Partners, a venture capital investor focused on energy transition. It also garnered support from mining-focused investors like CoTec Holding, Audley Capital, Orion Industrial Ventures, Unearth Capital, and Opalton. Existing investors Khosla Ventures and Aurus Ventures also participated. BHP Ventures, the dedicated venture capital arm of mining giant BHP, joined the investment roster during the round’s closure.
Cristóbal Undurraga, CEO and Co-founder of Ceibo, remarked:
“With this increased capital, and the strategic backing of investors like BHP Ventures, we can expedite our global technology deployment and fulfill society’s requirements.”
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}