What's Happening?
Still Bright, a New Jersey-based startup founded in 2022, has developed a novel method to extract copper from ore, potentially reducing costs significantly. The company claims its technology can recover nearly all copper from typical ores without pre-processing steps that typically lose up to 20% of the metal. This method involves soaking copper-containing ores in a vanadium-based solution, which draws the metal out, and regenerating the solution using electricity. The startup has raised $18.7 million in a seed round led by Material Impact and Breakthrough Energy Ventures to boost production from single digits to hundreds of tons per year. The technology is inspired by vanadium flow batteries and offers a cleaner alternative to traditional copper extraction methods.
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Why It's Important?
The development of this technology is significant as it addresses the growing demand for copper, driven by the global transition away from fossil fuels. Copper is essential for renewable energy systems and electric vehicles, and its demand is expected to double in the coming years. Still Bright's method could help meet this demand by increasing the efficiency of copper extraction and reducing environmental impact. The startup's approach could also make copper production more cost-effective, potentially positioning it as one of the cheapest copper producers. This innovation could have broad implications for industries reliant on copper, including construction, electronics, and energy.
What's Next?
Still Bright plans to build a demonstration unit capable of producing 500 tons of copper annually by 2027 or 2028, a significant increase from its current pilot scale unit. The company aims to refine copper in large quantities to benefit from potential tariffs on imports, using the revenue to develop commercial-scale units. If successful, this could lead to widespread adoption of their technology across the mining industry, further reducing costs and environmental impact.
