MTM Critical Metals Limited (ASX: MTM) has successfully secured $8 million in an oversubscribed capital raise, setting the stage for the rapid commercialisation of its Flash Joule Heating (FJH) technology. This cutting-edge process could revolutionise metal recovery, addressing critical global supply challenges for strategic metals like gallium, lithium, and palladium. With strong investor support, MTM is advancing plans for its 1-tonne-per-day demonstration plant, positioning the company for significant growth as it moves towards commercial production by late 2025.
MTM's proprietary FJH technology, invented by renowned scientist Dr. James Tour of Rice University, is set to revolutionise the metal recovery landscape. Dr. Tour, the T. and W. F. Chao Professor of Chemistry, Computer Science, and Materials Science & Nano-Engineering at Rice, is a globally recognised synthetic organic chemist with an impressive career spanning decades. His accolades include being named "Scientist of the Year" by R&D Magazine and being listed among "The World’s Most Influential Scientific Minds" by Thomson Reuters.
FJH technology, developed under his guidance, promises to upend traditional metal recovery methods. Unlike conventional processes, which are energy-intensive and environmentally harmful, FJH uses rapid electrothermal processing to extract valuable metals from ores and waste. This sustainable approach dramatically reduces energy consumption and environmental impact, offering an efficient solution at a time when industries are under pressure to decarbonise.
MTM Chief Executive Officer, Michael Walshe, said: “We are thrilled with the strong support received for this capital raise, which enables MTM to fast-track the commercialisation of our Flash Joule Heating technology. 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.
With the $8 million raised, we are now in an even stronger position to accelerate the development of our 1-ton-per-day demo plant and capitalise on the significant interest we've generated from potential industry partners.
This funding brings us closer to delivering on our vision of revolutionising the metal recovery industry while enhancing MTM’s long-term growth and shareholder value”.
Contact details:
David Tasker
Chapter One Advisors
T: +61 433 112 936
E: [email protected]