Oxford spinout raises $2.3M for deep-underground critical minerals tech
Company News · Mining.com ·
Ascension, an Oxford University spinout, secured £1.7 million ($2.3M) in public and private funding to advance its geothermal-based critical mineral recovery technology. The company uses naturally occurring geothermal heat to extract minerals from volcanic glass deposits underground, eliminating excavation and significantly reducing environmental impact. The breakthrough targets supply chain risks for rare earth elements essential to electric vehicles and semiconductors.