According to a report from Mining.com, Alta Resource Technologies, a Colorado-based critical minerals mining startup, announced on Monday that it had expanded its Series Seed funding (SSF) to $10 million and completed an investment of $4.4 million.
The investment was led by DCVC and Voyager Ventures, with participation from non-profit strategic investors and In-Q-Tel (IQT), the venture capital entity of the US Central Intelligence Agency (CIA).
Alta stated that the new capital would accelerate the development and commercialization of its platform, which utilizes engineered proteins to selectively bind and separate critical minerals, including rare earth elements such as neodymium and dysprosium, from low-grade ores and complex wastewater compositions.
The company claimed that this approach aims to significantly reduce the environmental impact of mineral extraction while helping to secure a domestic supply of critical minerals needed for advanced electronics, clean energy technologies, and modern defense systems.
The concentration and monopoly of critical minerals have raised concerns about economic and national defense security. In March, the US government issued an executive order aimed at expanding domestic mineral production to reduce reliance on foreign supply chains.
Alta stated that its technology offers a timely and broad solution: extracting high-purity critical minerals from non-traditional and previously uneconomical resources while minimizing impact.
Nathan Ratledge, co-founder and CEO of Alta, said in a press release, "Securing resilient, low-impact sources of critical minerals is no longer an option for the US and its allies—it is a strategic imperative."
Ratledge added, "The US is beginning to respond in a wartime footing, and Alta's technology is uniquely positioned. Our protein-based platform provides the US with a nimble way to tap into unconventional mineral resources domestically while reducing costs and environmental impact."
Alta's technology platform is based on breakthroughs in protein engineering, achieved through collaboration with researchers from Lawrence Livermore National Laboratory and Pennsylvania State University.
Alta stated that by customizing proteins to selectively bind specific elements, even at low concentrations in complex mixtures, its technology achieves higher precision than traditional separation methods, thereby significantly enhancing the efficiency, durability, and economic viability of rare earth and other critical materials.
"Alta's protein-based technology demonstrates the promise of engineered biology in addressing major national security challenges," said Jessica Dymond, Vice President of Technology at IQT. "We are excited to support Alta's technological innovation to diversify the nation's sources of critical minerals and enhance domestic processing capabilities."
SSF, established in January, will see its total fund reach $10 million with the addition of new capital.
In addition to private capital, Alta has also received assistance from the US federal government and the Colorado state government.
