Canadian company Rail-Veyor Technologies Global Inc has agreed to accept an offer from RCF Jolimont Mining Innovation Fund II LP (RCF Jolimont II) for a significant stake in Rail-Veyor. RCF Jolimont II, a global investor in mining innovation, adds Rail-Veyor to its portfolio of high growth Mining Equipment, Technology and Services (METS) companies which are helping to transform the industry. Rail-Veyor was first brought to the attention of RCF Jolimont II during the 2019 Mining Cleantech Challenge which Rail-Veyor subsequently won in 2020.
RCF Jolimont II is part of Resource Capital Funds, a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Its current portfolio also includes fatigue management major SmartCap Technologies, mining radar & automation global player indurad, mine drilling advanced tech supplier Minnovare & Commit Works, a leader in frontline work management and short interval control software.
The Rail-Veyor TrulyAutonomous™ haulage system is a low-cost, fully autonomous, and electrically powered materials handling system operational in mines around the world. “With zero diesel emissions and significantly reduced OPEX costs over traditional methods – 90% lower than diesel truck haulage – the system will also eliminate the potentially fatal risk factors of vehicle-human accidents and belt fires.”
Charles Gillies, a Director at RCF Jolimont Innovation, part of Resource Capital Funds, stated: “Rail-Veyor is at the nexus of three major trends in mining: the rapid shift to electrification, automation, and a growing emphasis on environmental sustainability. The Rail-Veyor system is a cleaner choice compared to diesel for both the planet and the workforce with no heat, dust, or dangerous particulates generated by the system.”
Rail-Veyor is successfully operating at three mines with a fourth becoming operational soon when the Kazzinc Dolinny Mine implementation in Kazakhstan is completed.
Rail-Veyor Executive Chairman Jim Fisk added: “We welcome the investment from RCF Jolimont which will enable us to fast track the rollout of the Rail-Veyor system to the many other sites with which we are close to signing deals.”
RCF Jolimont II’s Charles Gillies and Lex McArthur will join the Rail-Veyor board of directors. Clairfield International (Thierry Pepin – Canada) acted as exclusive financial advisor to Rail-Veyor while the Chicago-based law firm McLachlan, Rissman & Doll provided legal advisory services to the company.