MTM raises $8 million to progress Flash Joule Heating demo plant

Metals recovery business MTM Critical Metals has announced an oversubscribed capital raise worth $8 million as it seeks to commercialise its proprietary Flash Joule Heating (FJH) technology.

In a statement on Wednesday, the company said it is now in “an even stronger position” to speed up development of a demonstration plant with a tonne-per-day capacity, and to take advantage of interest from industry partners. 

“We are thrilled with the strong support received for this capital raise, which enables MTM to fast-track the commercialisation of our [FJH] technology,” said CEO Michael Walshe. 

“The substantial demand from investors reflects the strategic importance of our projects, particularly in addressing global supply challenges for critical metals such as gallium, indium and lithium.”

FJH was invented by Dr James Tour, the T. and W. F. Chao Professor of Chemistry, Computer Science, and Materials Science & Nano-Engineering at Rice University in the United states.

According to its website, Perth-based MTM has a global licence to commercialise the technology to extract metals from e-waste, black mass from recycled batteries, bauxite residue, coal fly ash and ores.

The technique is described as using rapid electrothermal processing to extract valuable metals from ores and waste, and according to MTM was recently used to extract tin, palladium, gold, silver, and copper from printed circuit boards without the use of toxic acids.

Picture: credit MTM

Further reading

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