Tag Archives: Novamera

Novamera finds funds for first full field trial of Sustainable Mining by Drilling tech

Novamera has closed its C$5 million ($4 million) Series A financing round, providing the necessary funds to carry out the first full field trial of its Sustainable Mining by Drilling (SMD) solution for narrow-vein mining.

BDC Capital’s Industrial Innovation Venture Fund was the lead investor and Chrysalix Venture Capital also participated with a follow-on investment through the Chrysalix RoboValley Fund.

The field trial, which is taking place at Anaconda Mining’s project site in Newfoundland, Canada, has commenced and will be ongoing until the end of November. The company says it is carrying out a proof of concept, testing the entire SMD system and process.

Dustin Angelo, President and CEO of Novamera, said: “The financing, along with the non-repayable funding from Sustainable Development Technology Canada, will help us develop the first generation SMD system and position the company to be the global leader in precision mining. The mining industry faces many challenges that require more sustainable and environmentally-friendly solutions and SMD will be an economically viable option to extract narrow vein deposits with minimal waste and disturbance.”

Novamera says it is developing “keyhole surgery” for mining, an innovative clean technology and process that will be able to mine the numerous small-scale narrow vein mineral deposits found worldwide more safely, economically and sustainably using pilot hole diamond drilling and downhole directional sensors with machine-learning algorithms to to identify vein/host rock interfaces. Then it will use industry proven drilling technology – a variant of conventional Pile Top RCD drills used successfully by the construction industry followed by a form of reverse circulation drilling – to extract the ore.

Hitachi CM looks for access to resource industry start-ups with Chrysalix fund investment

Chrysalix Venture Capital, a global venture capital fund with a history of commercialising innovation for resource intensive industries, has announced Hitachi Construction Machinery Co Ltd has invested in the Chrysalix RoboValley Fund.

Hitachi Construction Machinery, a leading manufacturer of construction and mining equipment, joins a cluster of mining and metals players such as South32, Severstal and Mitsubishi Corp in the fund, and “will leverage Chrysalix’s extensive network in the mining field to strengthen open innovation by connecting with start-ups that possess the latest technologies for mining in areas such as robotic systems, IoT, AI and data analytics”, the company said.

“Chrysalix has made step-change innovations in the metals and mining, manufacturing and machinery industries, through digital solutions and advanced robotics technologies, a major theme of our fund, and we are delighted to welcome Hitachi Construction Machinery to the Chrysalix RoboValley Fund,” Alicia Lenis, Vice President at Chrysalix Venture Capital, said.

Just some of the companies included in Chrysalix’s portfolio include Novamera, which is developing its Sustainable Mining by Drilling technology for narrow-vein mines; and MineSense Technologies, a Vancouver-based start-up developing real-time, sensor-based ore data and sorting solutions for large-scale mines.

Naoyoshi Yamada, Chief Strategy Officer at Hitachi Construction Machinery, said: “We identified Chrysalix as having a valuable network of start-ups in its global innovation ecosystem, and a unique window on innovation opportunities in the mining industry.

“With the trends toward digitalisation, the autonomous operation and electrification of mining machinery, as well as the growing need for solutions to streamline and optimise not only mining machinery but also overall mining operations, many start-ups offer novel technologies and services, and our investment in the Chrysalix RoboValley Fund will enable Hitachi Construction Machinery to tap into these new breakthroughs.”

The Chrysalix RoboValley Fund, Chrysalix says, seeks to achieve significant returns for its investors by enabling resource intensive industries, including energy, mining, construction, infrastructure and mobility, to tap into innovation from high growth start-ups.