#USA #Investment #Brooklyn #Critical Minerals #ChemFinity

ChemFinity Technologies Raises $7 Million for Mineral Recovery

ChemFinity Technologies, a leading innovator in the recovery of critical minerals, has successfully raised $7 million in an oversubscribed seed funding round. The investment, co-led by At One Ventures and Overture Ventures, aims to expand the company's cutting-edge sorbent technology, which promises a low-cost and high-purity metal refining process. This funding will expedite efforts to pilot and scale ChemFinity's revolutionary technology capable of selectively recovering over 20 essential minerals from complex waste streams at an affordable cost.

The Importance of Critical Minerals

Over 80% of the critical minerals vital to U.S. industries, including those in defense, manufacturing, and energy sectors, are currently imported. The demand for these minerals is rising sharply, while challenges such as declining ore quality and stricter environmental regulations further complicate sourcing capabilities. ChemFinity's technology provides a pivotal solution to these issues by delivering energy-efficient, cost-effective, and modular recovery methods that can adapt to various domestic feedstocks, ultimately producing high-purity metals.

Dr. Adam Uliana, Co-founder and CEO of ChemFinity Technologies, emphasized the necessity of domestic extraction and refining of these minerals: "In a world increasingly dependent on critical minerals, the ability to extract and refine them domestically, cleanly, and affordably is paramount. Our platform addresses one of the most difficult bottlenecks in both national security and the energy transition: reliable, local access to high-purity critical minerals, all while dramatically lowering the cost and environmental footprint of recovery."

Pioneering Technology and Sustainable Practices

Originating from research at the University of California, Berkeley, ChemFinity has developed groundbreaking sorbents that exhibit record-breaking recovery efficiencies and durability in hydrometallurgical environments. These sorbents, engineered with atomically tunable pore structures, enable precise separation of target metals from low-grade, complex mixtures, effectively recovering critical minerals such as platinum-group metals, rare earth elements, and base metals like copper, as well as emerging contaminants like PFAS (per- and polyfluoroalkyl substances).

Dr. Ever Velasquez, Co-founder and CTO, highlighted the company's aspirations: "With support from this Seed round, we're scaling production, expanding our team, and deploying pilot systems to recover high-value metals that would otherwise be lost. Our systems are designed to integrate readily into existing infrastructure, and we look forward to expanding deployment with other industrial leaders who share our mission of onshoring a circular minerals supply chain."

ChemFinity has also engaged in initiatives with prominent recyclers and refiners, focusing on producing high-purity metals from domestic waste streams including catalytic converters, mining feedstocks, spent solar panels, and wastewaters. As their technology has already scaled 1,000 times from lab development to pilot reactors, the company is making significant strides toward sustainable practices in metal recovery.

Helen Lin, a partner at At One Ventures, praised the company’s potential: "With their high selectivity and fast reaction kinetics, ChemFinity's engineered sorbents extract critical metals orders of magnitude faster than conventional methods, achieving market-grade purity with minimal energy and water use. This can unlock exciting new value streams and is a true step-change in metal circularity."

Allison Hinckley, Senior Principal at Overture Ventures, noted that the company’s solutions not only address national interests but also present significant economic advantages: "ChemFinity re-enables domestic refining of metals critical to the national interest. Their process features a dramatically smaller chemical and energetic footprint than global incumbents, resulting in superior economics."

As ChemFinity Technologies continues to grow, they plan to expand their workforce in Brooklyn, NY, contributing to job creation and advancements in the domestic minerals industry. The company's mission showcases a commitment to producing critical minerals in an eco-friendly and cost-effective manner, aligning with a broader push toward sustainability and domestic production.

A Bright Future for ChemFinity

With the recent funding injection enabling accelerated production and expansion, ChemFinity Technologies is positioning itself as a leader in the field of mineral recovery. The combination of innovative technology and strategic partnerships offers a promising outlook for the company, ensuring a vital supply of critical minerals while addressing pressing environmental concerns. As they unveil new systems and processes, ChemFinity stands to play a crucial role in reshaping the landscape of mineral recovery and refining across the United States.

About ChemFinity Technologies

Founded in late 2022 as a spinoff from UC Berkeley, ChemFinity Technologies is dedicated to developing critical mineral recovery systems. At the forefront of innovative solutions, the company aims to produce over 20 minerals from domestic feedstocks at low cost using its proprietary sorbent technology, paving the way for a sustainable circular economy in the mineral sector.