Raises More Than $20 Million to Accelerate Deployment of Critical Materials Biotechnology
Summary
BOSTON, MA Allonnia, the bio-ingenuity company that develops scalable solutions to improve mineral recovery and reduce environmental impact, today announced it has raised more than $20 million in a Series A extension round. The financing was led by Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners, bringing Allonnias total funding to more than $100 million.The raise comes amid rapid global growth in demand for copper, nickel, lithium, and rare earth elements, materials essential to electric vehicles, grid electrification, AI data centers, and national security systems. This is built on the successful scale-up results from a five-day continuous demonstration at SGS Lakefield in Ontario, showing a 40% reduction in magnesium impurities and an 18% increase in nickel grade. Allonnia exemplifies this approach through the development of the type of breakthrough technologies needed to strengthen critical mineral supply chains and reduce environmental impact, said Tom Biegala, Founding Partner at Bison Ventures. The team has a history of demonstrated speed, discipline, and a clear line of sight to commercial adoption building on their success with commercialization of PFAS separation and concentration solution.Allonnia continues to expand its selective separation portfolio across two core markets: metals and mining, including impurity removal, concentrate upgrading, and rare earth recovery; and emerging contaminants, with solutions such as SAFF\xae, a PFAS treatment platform.Allonnia, the bio-ingenuity company, is dedicated to extracting value where others see waste.