Source:https:\/\/techcrunch.com\/2023\/06\/01\/ceibo-30m-series-b-copper-mining\/<\/a><\/br>
\nCeibo unearths $30M Series B to extract more copper out of existing mines<\/br>
\n2023-06-01 21:51:12<\/br><\/p>\n

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When it comes<\/span> time to fret about minerals critical to the energy transition, lithium<\/a>, cobalt and nickel may get all the attention, but another metal is keeping plenty of analysts up at night.<\/p>\n

Though those other minerals are key ingredients for batteries<\/a>, copper is used across every sector that will be touched by electrification. Transmission wires, electric motors, inverters and battery packs all rely on the 29^{th<\/sup> element.<\/p>\n}

\u201cThere\u2019s no energy transition, no decarbonization without some critical minerals,\u201d Ceibo<\/a> CEO Crist\u00f3bal Undurraga told TechCrunch+.<\/p>\n

But less than a decade from now, demand for copper is expected to outstrip supply by 6.5 million metric tons, according<\/a> to McKinsey. That portends a 25% shortfall.<\/p>\n

One answer to that dilemma is to find more copper buried in the earth and dig it up. But that costs a lot, takes a ton of time and damages the environment. A better approach is to extract more copper out of the mines we have today.<\/p>\n

There are several ways to do that \u2014 bacteria is an option; more on that later \u2014 but the one that helped Ceibo dig up a $30 million Series B relies on tweaking a century-old process. The round was led by Energy Impact Partners with participation from existing investors Khosla Ventures and Aurus Ventures and new investors including CoTec Holdings, Audley, Orion Industrial Ventures, Unearth Capital and Pincus Green.<\/p>\n<\/p><\/div>\n

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Science, Tech, Technology<\/br>
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\nSource:https:\/\/techcrunch.com\/2023\/06\/01\/ceibo-30m-series-b-copper-mining\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/01\/ceibo-30m-series-b-copper-mining\/ Ceibo unearths $30M Series B to extract more copper out of existing mines 2023-06-01 21:51:12 When it comes time to fret about minerals critical to the energy transition, lithium, cobalt and nickel may get all the attention, but another metal is keeping plenty of analysts up at night. Though those other minerals are key […]<\/p>\n","protected":false},"author":1,"featured_media":33819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-33818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\n