Sustainable mining startup BANIQL raises AU$2.4m for
The news: US-based startup BANIQL has raised a seed funding round to expand its sustainable technology for nickel and cobalt extraction into Indonesia, Australia, South Korea and the Philippines.
The numbers: BANIQL closed a US$1.6 million (AU$2.4 million) seed funding round led by Singapore-based VC BEENEXT, with participation from Seedstars International Ventures, A2D Ventures and Sopoong Ventures.
The context: The startup’s patent-pending technology aims to reduce the environmental impact and cost of extracting nickel and cobalt, two of the key critical minerals for the manufacturing of electric vehicle batteries and renewable energy storage.
The technology has the potential to reduce water and energy consumption, minimise chemical usage and decrease the environmental footprint associated with nickel and cobalt extraction.
What they said: BANIQL CEO and co-founder Willy Halim said: “We are confident that this funding will enable us to take BaniQL to the next level and make a significant contribution to the transition towards a more sustainable future for the critical minerals industry.”
Source: capitalbrief.com 20 May 2024
