pH7 Technologies raises US$55M to scale metal extraction tech for mining ops

pH7 Technologies closed an oversubscribed Series B financing round this week, raising approximately $32 million USD in equity funding to accelerate deployment of its electrochemical metal extraction technology across global mining operations. The funding arrives as widening gaps between critical mineral demand and economically viable supply sources challenge mining companies worldwide.

The Vancouver-based company secured new backing from Asahi Kasei and the Circular Innovation Fund, joining previously announced investors led by Fine Structure Ventures with participation from BHP Ventures and existing stakeholders. pH7 also arranged venture debt financing from RBCx, bringing the total financing package to approximately $55 million CAD ($39 million USD).

The financing positions pH7 to commercialize technology that enables mining operators to economically recover metals from low-grade ores, tailings, and previously uneconomic feedstocks. The company's extraction process targets copper initially, with applications extending to nickel, gold, and platinum group metals as governments prioritize domestic and allied supply chain security.

Addressing processing constraints

Mining companies face increasing pressure to extract more value from existing resources as traditional high-grade deposits become scarcer and permitting for new projects grows more complex. pH7's technology addresses this challenge by making previously uneconomic materials commercially viable for metal recovery.

"The constraint isn't discovery, it's how we process what we've already found," Mohammad Doostmohammadi, CEO of pH7 Technologies, said. "This oversubscribed financing validates that unlocking value from existing resources is now an economic and strategic priority. We are accelerating from pilot to commercial deployment globally, enabling producers to recover critical minerals from materials that were previously uneconomic—while enabling regionalized, on-site metal processing closer to the source of production."

The company's proprietary extraction method uses a closed-loop organo-electrochemical process that replaces traditional high-waste methods with what pH7 describes as a more scalable system. The technology integrates into existing on-site equipment and processing flowsheets, reducing operational complexity while improving metal recovery rates.

Technology performance and applications

pH7's extraction process demonstrates lower energy consumption and wastewater generation compared to conventional industry methods. The closed-loop design minimizes environmental impact while improving project economics for mining operators dealing with challenging ore compositions or waste materials.

The technology particularly benefits operations seeking to process tailings, which often contain significant metal values but require specialized extraction methods to achieve commercial recovery rates. pH7's system enables operators to treat these materials on-site without major infrastructure modifications.

Mining companies can deploy the technology for both primary ore processing and secondary recovery from existing waste streams. This flexibility allows operators to maximize resource utilization while addressing environmental management requirements for tailings and waste rock storage.

Strategic investor perspectives

Asahi Kasei's investment reflects the Japanese conglomerate's focus on critical mineral supply chain security and process technology advancement. The company brings decades of electrolysis expertise that complements pH7's electrochemical approach.

"pH7 is applying electrochemistry and process engineering in a compelling way to help secure a more resilient supply of critical minerals by recovering value from resources that have traditionally been uneconomic to process," Takashi Morishita, managing director at Asahi Kasei CVC, said. "We are pleased to support pH7 as it moves toward larger-scale deployment, and we look forward to sharing our longstanding expertise in electrolysis as the company enters its next phase of growth."

The Circular Innovation Fund's participation aligns with increasing investor focus on technologies that enable circular economy principles in mining operations. The fund specializes in growth-stage companies developing breakthrough materials and eco-efficient processes.

"The Circular Innovation Fund is proud to support pH7 Technologies, a company addressing a critical challenge at the heart of the energy transition: the growing gap between surging demand for critical metals and increasingly constrained global supply," said Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital. "As industries accelerate decarbonization, we believe scalable technologies that can recover high-value metals from existing waste streams will play a pivotal role in securing resilient and sustainable supply chains."

Commercial operations and expansion

pH7 currently operates a commercial facility in Vancouver that extracts platinum group metals from spent catalysts, demonstrating the technology's viability at industrial scale. The company uses this operation as a proving ground while advancing mining-sector applications toward global deployment.

The Series B funding will support expansion of pH7's technology deployment across multiple jurisdictions and mineral types. The company plans to work with mining operators to integrate its extraction systems into existing processing.

For more information, visit  www.Ph7technologies.com, www.Asahi-kasei.com, www.AsahikaseiVentures.com, and www.cCircularInnovationFund.com