Accelerating Commercialization Following Capital Raise and Technical Successes
It has been a transformative period recently for KMX. The close of our recent capital raise, a new grant from the Canadian government, and successful demonstrations are some of the exciting developments which have recently unfolded.
In this update, we share more details on these developments and highlight what’s next for KMX.
Recent Capital Raise Brings World-Class Investors
The team is excited to recently close a funding round from world-class investors, including PureTerra Ventures, a leading water-focused investor, TETRA Technologies, a market leader in produced water recycling and mineral recovery, and Archer Private Investments, an early major investor.
With this funding now in-place, the team is now focused on: 1) putting in place various systems to support our accelerated commercialization, 2) executing for our existing cornerstone customers and partners, and 3) diversifying our commercial pipeline.
As announced, as part of the accelerated commercialization from our recent investment round, TETRA and KMX are in the design phase of building an additional mobile commercial unit for TETRA to deploy as part of the company’s leading beneficial reuse solution. The new system is expected to be delivered in mid-2025.
Read more about the investment round here:
KMX Technologies Closes Investment Round and Accelerates Commercialization | KMX Technologies
Canadian Government Grant
KMX is honored to be participating in a new grant funding with CanmetMINING of Natural Resources Cananda (NRCan), sponsored by the Canadian Government.
This grant continues the previous work the team undertook with NRCan, which saw the technical validation of KMX’s technology for lithium concentration. The new grant will continue our work on lithium concentration while expanding the scope of our work with NRCan to include utilizing our technology for battery recycling and Rare Earth extraction, separation, and concentration.
We are thrilled and honored to continue this important partnership for the betterment of North American critical mineral supply chain security.
Read here for more on our recent funding collaboration with NRCan:
KMX and CanmetMINING Expand Research Collaboration | KMX Technologies
What’s Next:
The team is in the process of enhancing our leading Vacuum Membrane Distillation (VMD) laboratory in Ontario following extending our lab lease, is in the process of onboarding new business partners as part of a streamlined corporate strategy, and is preparing to hire additional team members spanning engineering, scientific, and commercial roles.
We hope to provide additional updates related to our commercial progress and technical developments soon.
– Zac
Zachary Sadow
CEO
KMX Technologies