Plotlogic mining technology draws climate capital

Queensland mining technology firm Plotlogic is on the receiving end of a $42 million ($US28 million) funding round led by US and Australian venture capital climate and sustainability heavyweights. Galvanize Climate Solutions, the climate-focused global investment firm founded by billionaire Tom Steyer and Katie Hall, co-led the round with Ventures, the investing firm backed by French energy and automation giant Schneider Electric. Existing investors Innovation Endeavors, DCVC, Bentley iTwin Ventures and GRIDS Capital also supportedthe raise. Plotlogic's proprietary OreSense technology combines a sensor stack and artificial intelligence (AI) to scan coresamples, chips and terrain in real-time, generating highly accurate ore characterisation predictions that allow miners to increase extraction of critical minerals and metals. Plotlogic chief executive officer Dr Andrew Job. The technology offers cost and energy savings by enhancing grade control methods and identifying problematic ore and deleterious materials as well as optimising plant uptime. Plotlogic plans to use the new funding to broaden its platform, bolster commercialisation and invest in additional research and development as the company looks to continue to expand into North America. Founder and chief executive officer Dr Andrew Job said he was confident the company would see increased adoption of OreSense, driven by mounting pressure on the mining industry to provide the critical minerals required for a sustainable future while avoiding the repetition of past environmental harm. “Recycling alone can only meet a fraction of the demand for essential commodities making continued mining essential. And sustainability in mining can be achieved through the increased adoption of advanced technologies like ours,” Dr Job said. “Discovering new deposits is a challenging task and the development of mines can take up to 17 years, pushing us well into the 2030s before we see any kind of transformation in the supply of minerals required for a net-zero future. “Plotlogic is actively contributing to the pursuit of a clean energy future by enabling existing mines to extract every vestige of value right now in an environmentally sensitive way. "We developed the OreSense technology with the firm belief that mining should be able to generate the resources society needs without harming the planet. "The feedback from our customers is that we are delivering on that vision. They describe using our tech as a game changer - like swapping a hacksaw for a scalpel - enabling them to mine more selectively, efficiently and sustainably, benefiting both their projects and the planet.”

Plotlogic mining technology draws climate capital

Industry Queensland

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