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Chrysalix backs MineSense Technologies

Chrysalix Energy Venture Capital (Chrysalix EVC), a cleantech venture capital firm and a member of the Chrysalix Global Network (CGN), has made an investment in MineSense Technologies, a provider of sensor-based sorting systems to pre-concentrate low-grade ores in the metal mining industry.

The series A round was done exclusively by Chrysalix EVC and marks the first time the firm has invested in a start-up dedicated to mining technology.

“Mining has always been a highly energy-intensive industry. However, it faces mounting challenges with declining ore grades and less favourable ore bodies, further exacerbating energy use and squeezing margins. Now is a great time for Chrysalix EVC to identify step-change mining innovations and to help build some great companies. We hope MineSense will be the first of many mining technology investments,” says Charlie Haythornthwaite, a partner at Chrysalix EVC. “MineSense is led by an experienced team that really understands the need for delivering integrated practical solutions. Its robust sensor and systems designs have been optimised for specific challenges of the metal mining application, especially related to sensor sensitivity and scalability. We are also pleased to be able to bring in John Thompson, the president of the Canadian Mining Innovation Council as an independent board director.”

“After receiving strong financing interest from other funds and mining companies, we were pleased to move forward with Chrysalix EVC based on their company-building experience, technical knowledge, and industry connections,” says Andrew Bamber, MineSense Technologies’ chief executive. “We really appreciated how they quickly understood our vision and how the due diligence process with Chrysalix helped us better understand our own business.”

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