Vale invests in startup that makes mining ecological – 07/11/2023 – Panel SA

Vale Ventures, Vale’s investment division in startups, announces this Wednesday (12) the purchase of a minority stake in Allonia, a biology company headquartered in Boston (USA).

Allonia develops a technology that can change the way mining processes are developed, improving their quality (by removing impurities) and reducing the environmental impact.

Vale is a shareholder in Samarco, the mining company responsible for the biggest environmental disaster in the region of Mariana (MG) caused by the rupture of a dam.

In the first round of investments, Allonia raised US$ 30 million (R$ 146 million). Vale contributed US$ 3 million.

Vale claims that the startup’s technology can also be used in the biomineralization of carbon dioxide, a process in which CO2 is captured and transformed into a mineral.

For the next funding rounds, Vale Ventures says it is focused on technology startups that work with tools that lead to the reduction of carbon emissions, reduction of waste and environmental impact in the mining process, energy transition and new technologies that change the way sector management.

In all, the fund should total US$ 100 million in investments in the coming years.

With Diego Felix

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