Sunchem, a burgeoning force in the mining industry, is set to disrupt the status quo with its innovative Nano Filter technology and novel leaching formulations. I sat down with Dana, the company’s CTO, to delve into how their groundbreaking approach is not only more cost-effective but also dramatically cheaper than existing recycling technologies. Sunchem’s process allows for the retrieval of valuable critical minerals, starting with gold, from waste streams, marking a significant leap forward in sustainable mining practices.
The current state of recycling is riddled with high costs and significant capital expenditure, but Sunchem’s technology promises to change that. Dana explained, “Our process offers higher yield, lower operating costs, and safer operations. It’s a game-changer.” This breakthrough is rooted in metal-organic frameworks (MOFs), which are tiny, sponge-like structures with pores that can be tuned to attract specific metals. By adding polymers to these structures, Sunchem can create a filter that selectively captures metals like gold, leaving behind other materials. This method is adaptable, allowing for the extraction of different metals by simply changing the polymer coating. Sunchem has patented this innovative “pore painting” technique, giving them a significant competitive edge.
The implications for the mining sector are vast. Sunchem’s technology can be applied to a variety of waste streams, from e-waste to discarded solar panels and mining waste heaps. This versatility means they can tackle multiple markets, with e-waste being their initial target due to its size and growth. Daniel, the founder, developed a library of materials during his PhD, enabling the company to quickly adapt to new selective materials. Their participation in the Rio Tinto and Founders Factory Mining Tech Accelerator has also provided valuable insights into the mining market and customer needs.
Sunchem’s business model is designed for scalability and profitability. In the electronic waste sector, they plan to either have a revenue share model with recycling partners or a purchasing agreement. Their unit economics are impressive, with projected 20% profit margins in their first pilot facility and even higher margins as the process scales. The high value of gold ensures that their process costs are significantly lower than traditional methods. Everything in their system is off-the-shelf and modular, allowing for efficient scaling once proven at a pilot scale.
The company is currently seeking $3.5 million in their seed round to build and operate their pilot facility. They are open to introductions to investors and are looking for their first business hire after the seed round. This hire could be part-time initially, ramping up to full-time as the company grows. Dana’s enthusiasm for the climate crisis is palpable. She finds hope in the innovative technologies being commercialized and the range of opportunities to support these efforts. Through accelerator programs and conferences, she has met numerous bright teams working to tackle different aspects of the climate crisis.
Sunchem’s technology has the potential to revolutionize the mining industry by making it more sustainable and cost-effective. Their approach challenges the norms of traditional mining and recycling, sparking a debate on how we can better utilize waste streams to retrieve valuable minerals. As the mining sector evolves, companies like Sunchem will play a crucial role in shaping a more sustainable future. Their innovative technology and scalable business model set a new standard for the industry, encouraging others to follow suit.
