TechMet is an investment company focused on building businesses across the critical minerals value chain from extraction and processing to refining and recycling. Its target minerals include lithium, nickel, cobalt and rare earths. The company intends to use newly raised funds to develop existing assets and continue building its portfolio with strategic projects that scale production and refining of those minerals. Since inception TechMet has invested more than $450m into projects across North and South America, Europe and Africa, and its portfolio includes Brazilian Nickel, Cornish Lithium, EnergySource Minerals, US Vanadium, Trinity Metals, Xerion Advanced Battery Corp, TechMet‑Mercuria, Rainbow Rare Earths, REEtec and Momentum Technologies. TechMet met a $300m fundraising target with the latest investments and is now valued at well over $1 billion. Major shareholders include the U.S. International Development Finance Corporation (DFC), S2G Ventures and Mercuria. Founded in 2017, TechMet is an investment company focused on building businesses across the full critical metals value chain—from extraction and processing to recycling and supply‑chain management. The firm has opened a new $300 million equity funding round and secured an additional $50 million equity commitment from the U.S. International Development Finance Corporation (DFC). DFC’s extra commitment raises its total investment in TechMet to $105 million following an initial investment in 2020. TechMet is valued at over $1 billion and has invested more than $250 million into critical metals projects across North and South America, Europe, and Africa during 2022 and 2023. Its portfolio includes stakes and capital deployed to Rainbow Rare Earths, Brazilian Nickel, US Vanadium, REEtec, Xerion Advanced Battery Corp., Energy Source Minerals, Momentum Technologies, and Trinity Metals. Management says it will use the latest DFC tranche to exercise an option to deploy $50 million directly into the Phalaborwa Rare Earths project in South Africa, and emphasizes environmentally and socially responsible scaling of supply chains for clean energy technologies. TechMet develops projects and investments to secure the supply chain of critical metals used in electric vehicles, energy storage and renewable energy. The firm has invested more than $180 million into critical-minerals companies over the last 12 months. It recently raised a $200 million equity round and paid a maiden dividend to shareholders last year. TechMet says it is on track to exceed a billion-dollar valuation in the coming months. Leadership plans to deploy further capital into mining and processing projects and to launch an additional fundraising round in Q4. The company emphasizes building environmentally responsible supply chains for the clean-energy transition.

Total raised

$430M

Funding rounds

3

Latest round

Equity

Latest activity

Aug 2024