Inspenet, July 16, 2023.
Brazilian mining company Vale has announced the purchase of a minority stake in Allonnia, a US start-up specializing in green solutions for the mining industry.
According to an official statement, the company acquired a small part of the capital of Allonnia, which allowed the American company to increase its capital by 30 million dollars. Although the exact amount of Vale’s investment has not been disclosed, it is estimated to have been approximately $3 million, equivalent to 10% of the capital increase . This acquisition is part of the company’s initiatives to boost sustainability and promote more responsible practices in the mining industry.
The Brazilian company has explained that Allonnia, based in Boston (Massachusetts), is an emerging company that uses biotechnology to offer sustainable solutions in the mining industry and mineral waste treatment.
Ecological solutions for mining: a significant investment
The purpose of this investment is to closely monitor the progress of these disruptive technologies and support their development in mining, according to the company.
Bruno Arcadier, Head of Vale Ventures, said: “We see Allonnia as a strategic partner capable of supporting our goal of promoting mining with a reduced carbon footprint and using advanced technologies to help reduce and efficiently manage the waste generated by our processes”.
The aforementioned Brazilian company was created in June of last year with an endowment of 100 million dollars to invest in leading emerging technology companies worldwide.
This fund also owns a minority stake in Boston Metal, another American startup that focuses on developing solutions for the decarbonization of steel production.
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