pH7 Technologies Announces Oversubscribed Series B Final Closing and $55M CAD Total Financing Package to Address Global Critical Minerals Shortage
pH7 Technologies
Backed by global industrial and financial investors, the company has completed its Series B equity financing and secured additional venture debt to strengthen supply chain resilience amid rising geopolitical competition
VANCOUVER, British Columbia--BUSINESS WIRE--
As global demand for critical minerals accelerates and supply constraints intensify, pH7 Technologies Inc. today announced the oversubscribed final closing of its Series B financing round. The company raised approximately USD ~$32 million in equity, with new backing from Asahi Kasei and the Circular Innovation Fund (CIF), alongside previously announced investors, led by Fine Structure Ventures, with participation from BHP Ventures and continued support from existing investors. The financing comes amid a widening structural gap between demand for metals like copper and the industry’s ability to economically extract them from existing resources.
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pH7 Technologies Commercial Processing Operation
In addition, pH7 has secured venture debt financing from RBCx, bringing the total financing package, including Series B equity and venture debt, to approximately CAD $55 million (USD ~$39 million).
Proceeds from the financing will accelerate the commercialization and global deployment of pH7’s extraction technology for the mining sector, beginning with copper, as governments intensify efforts to secure domestic and allied supply chains. The company’s technology enables operators to economically recover metals from low-grade ores, tailings, and other previously uneconomic feedstocks, unlocking new sources of copper, nickel, gold and platinum group metals (PGMs).
“The constraint isn’t discovery, it’s how we process what we’ve already found,” said Mohammad Doostmohammadi, CEO of pH7 Technologies. “This oversubscribed financing validates that unlocking value from existing resources is now an economic and strategic priority. We are accelerating from pilot to commercial deployment globally, enabling producers to recover critical minerals from materials that were previously uneconomic—while enabling regionalized, on-site metal processing closer to the source of production.”
“pH7 is applying electrochemistry and process engineering in a compelling way to help secure a more resilient supply of critical minerals by recovering value from resources that have traditionally been uneconomic to process,” said Takashi Morishita, Managing Director at Asahi Kasei CVC. “We are pleased to support pH7 as it moves toward larger-scale deployment, and we look forward to sharing our longstanding expertise in electrolysis as the company enters its next phase of growth.”
“The Circular Innovation Fund is proud to support pH7 Technologies, a company addressing a critical challenge at the heart of the energy transition: the growing gap between surging demand for critical metals and increasingly constrained global supply. As industries accelerate decarbonization, we believe scalable technologies that can recover high-value metals from existing waste streams will play a pivotal role in securing resilient and sustainable supply chains,” said Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital.
pH7’s proprietary extraction method, a closed-loop organo-electrochemical process, replaces traditional high-waste methods with a scalable system designed to improve project economics while minimizing environmental impact. The technology integrates into existing on-site equipment and flowsheets, reducing complexity while improving recovery. The process also lowers energy consumption and wastewater generation compared to industry norms.
The company operates a commercial facility in Vancouver extracting platinum group metals from spent catalysts and is advancing its mining-sector applications toward global deployment.
About Asahi Kasei
Asahi Kasei is a diversified global company that contributes to life and living for people around the world. Since its foundation in 1922, with businesses in ammonia and cellulose fiber, Asahi Kasei has consistently grown through proactive portfolio transformation to meet the evolving needs of every age. With 50,000 employees worldwide, the company contributes to sustainability by providing solutions to the world’s challenges across its three business sectors: Healthcare, Homes, and Material. For more information, visit https://www.asahi-kasei.com/.
About Asahi Kasei Corporate Venture Capital
Asahi Kasei Corporate Venture Capital has invested strategically in innovative startups over 15+ years, from seed to later stages. In addition to investment side, Asahi Kasei is committed to providing strategic value and support to our portfolio companies. For more information, visit www.asahikaseiventures.com.
About Circular Innovation Fund (CIF)
The Circular Innovation Fund (“CIF”) is a global venture capital fund focused solely on circular innovation. It is a joint venture between leading cleantech capital managers— Montreal-based Cycle Capital and Paris-based Demea. The fund invests in growth-stage companies from North America and Europe developing breakthrough new materials, circular packaging, recycling and waste innovations, logistics, as well as eco-efficient processes & design, and circular business models. For more information, visit www.circularinnovationfund.com.
About pH7 Technologies
pH7 Technologies is a Canadian company developing next-generation critical-mineral extraction technologies for both primary and secondary resources. Through its proprietary closed-loop organo-electrochemical process, pH7 enables mining and recycling operators to economically recover metals from low-grade ores, tailings, and complex feedstocks that have historically been uneconomic or technically challenging to process. The company operates a commercial PGM extraction facility in Vancouver and is rapidly scaling its mining-sector applications, beginning with copper.
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