"We understand the vast opportunity ahead in decarbonising and technologically transforming one of the world's most important industries - mining," said Henry Lane Fox, CEO of Founders Factory.
As the world electrifies, demand for lithium-ion batteries is booming, for use in everything from smartphones to EVs. As a result, the global demand for lithium is predicted to more than quadruple by 2030.
The six startups include Denver, US-based Endolith, which uses microbes for a greener way to increase copper recovery from low-grade ores, and Cambridge, UK-headquartered ProSpectural, which is building low-cost spectral cameras that can "see" the composition of materials lying beneath the Earth's surface.
This is a trend that hasn't gone unnoticed to the likes of Rio Tinto, the world's second-largest metals and mining corporation. Today, the British-Australian corporation announced the acquisition of Ireland-based Arcadium Lithium, a lithium producer born in January from the Allkem-Livent.
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