ChemFinity Technologies, a startup spun out of the University of California, Berkeley in 2022, has secured a significant seed funding round to accelerate its mission of revolutionizing critical mineral recovery. The round was co-led by At One Ventures and Overture Ventures, with participation from Closed Loop Ventures Group, Pace Ventures, WovenEarth Ventures, and Climate Capital. This influx of capital will fuel the company’s piloting efforts and scale deployment of its innovative sorbent-based technology, which can selectively recover over 20 targeted minerals from complex waste streams at a low cost.
The timing of this development is critical. Over 80% of critical minerals essential to key U.S. industries, including defense, manufacturing, and energy, are currently imported. The escalating demand for these minerals is met with declining ore quality, higher processing costs in primary sourcing, and stricter environmental regulations. ChemFinity’s technology addresses these challenges head-on, offering a domestic, clean, and affordable solution for critical mineral recovery.
“In a world increasingly dependent on critical minerals, the ability to extract and refine them domestically, cleanly, and affordably is paramount,” said Dr. Adam Uliana, co-founder and CEO of ChemFinity Technologies. “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.”
ChemFinity’s sorbents, engineered with atomically tunable pore structures for precision separations, have been validated for selective capture of target metals from low-grade, highly complex mixtures. These sorbents offer record-breaking recovery efficiencies and exceptional durability, even in hydrometallurgical conditions. They can recover a wide range of critical minerals, including platinum-group metals, rare earth elements, base metals like copper, and even emerging contaminants like PFAS.
With the support from this seed round, ChemFinity plans to scale production, expand its team, and deploy pilot systems to recover high-value metals that would otherwise be lost. “Our systems are designed to integrate readily into existing infrastructure,” said Dr. Ever Velasquez, co-founder and CTO of ChemFinity Technologies. “We look forward to expanding deployment with other industrial leaders who share our mission of onshoring a circular minerals supply chain.”
ChemFinity’s technology has already been scaled up 1,000x from lab beakers to pilot reactors, with support from Breakthrough Energy Fellows and non-dilutive grants from over 10 U.S. agencies. The company has engaged in projects with leading recyclers and refiners to produce high-purity metals from domestic wastes, such as catalytic converters, mining feedstocks, spent solar panels, and wastewaters.
This development could significantly shape the future of the mining and recycling sectors. By enabling domestic, low-cost, and environmentally friendly recovery of critical minerals, ChemFinity’s technology could reduce dependence on imports, enhance national security, and support the energy transition. Moreover, its ability to recover minerals from complex waste streams could spur innovation in waste management and recycling industries.
However, challenges remain. The technology’s success will depend on its ability to scale effectively, integrate with existing infrastructure, and compete with traditional mining methods. Furthermore, the regulatory landscape and market dynamics will play a crucial role in its adoption and impact.
As the world grapples with the complexities of critical mineral supply chains, ChemFinity’s breakthrough technology offers a promising solution. Its success could catalyze a shift towards more sustainable, domestic, and circular approaches to mineral recovery, reshaping the mining industry and supporting the transition to a low-carbon future.