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Sustainable Mining Tech Firm Ceibo Raises Over $30 Million in Series B Funding for Eco-Friendly Copper Extraction

ESGSustainable Mining Tech Firm Ceibo Raises Over $30 Million in Series B Funding for Eco-Friendly Copper Extraction

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

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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