Skyrocketing demand for copper is set to drive prices to unprecedented levels as the global economy shifts away from fossil fuels. According to a report by the University of Michigan, the world will need twice as much copper in the next few years as has been mined throughout history.
Still Bright, a startup based in New Jersey established in 2022, believes it has discovered an innovative and eco-friendly approach to reduce these costs.
Randy Allen, the co-founder and CEO of Still Bright, expressed concerns about the challenges in meeting the increasing demand for copper due to the depletion of easily accessible mines. He emphasized the necessity for the industry to find new ways to extract copper efficiently.
Still Bright has developed a groundbreaking method for extracting copper that claims to recover almost all copper from typical ores, eliminating the need for pre-processing steps that result in a loss of up to 20% of the metal. This technology could even be applied to tailings, the discarded materials that still contain residual copper.
The company has secured an $18.7 million seed funding round led by Material Impact and Breakthrough Energy Ventures to scale up its production capabilities.
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One of the key advantages of Still Bright’s technology is its ability to extract copper without generating harmful pollution. While traditional methods release pollutants into the atmosphere, Still Bright uses a vanadium-based solution to extract copper from ores, which can be regenerated using electricity.
The inspiration for this innovative approach came from vanadium flow batteries, a form of long-duration energy storage. By leveraging this technology, Still Bright has created a sustainable method for copper extraction.
The company’s modular system is designed to be adaptable to mines of various sizes, with a significantly smaller footprint compared to conventional refining processes. This compact design not only enhances efficiency but also reduces operational costs.
Still Bright aims to build a demonstration unit by 2027 or 2028 capable of producing 500 tons of copper annually, a substantial increase from its current pilot scale production. The ultimate goal is to establish a commercial-scale system capable of producing 10,000 tons per year.
With the clock ticking, Still Bright is racing to refine copper on a larger scale to capitalize on any potential tariffs on metal imports. By positioning itself as a cost-effective copper producer, the company aims to establish a strong foothold in the market.
In conclusion, Still Bright’s innovative approach to copper extraction not only addresses the challenges posed by rising demand but also sets a new standard for sustainable mining practices.
