Maverick Metals, a leading North American specialty chemical solutions provider, secured a $19 million equity funding round to advance its innovative LithX™ technology, a breakthrough lixiviant designed to improve critical metals recovery and reduce processing costs. The surge in capital will enable LithX™ expansion in active mining operations across North America and beyond.
The round, led by Olive Tree Capital, includes contributions from investors like TechNexus Venture Collaborative, Y Combinator, Hanwha Group, and others. This funding will accelerate the commercialization of LithX™, a solution that addresses the growing demand for copper and other critical metals, especially as the U.S. seeks to expand domestic refining capabilities and reduce its reliance on foreign critical metals.
A Scalable Path to Securing Essential Materials
LithX™ is poised to revolutionize the extraction of copper, molybdenum, gold, silver, and rare earth elements by enabling higher recovery rates and the heap leaching of challenging ores, tailings, and smelter slags without requiring harsh acids or extreme heat.
“LithX™ provides a scalable, commercially viable path to securing essential materials,” Eric Herrera, co-founder and CEO of Maverick Metals said in a statement. It “delivers a practical solution for operators seeking to maximize production and lower OPEX.”
The technology’s ability to unlock valuable byproducts and transform low-grade resources into high-value feedstock is also particularly timely, given the projected surge in global copper demand, which is expected to double by 2035. This is due to ripple effects from electrification, renewable energy and manufacturing, which are driving up the need for copper and other critical metals in the global economy.
Strategic Mining Partnerships and Field Trials
Maverick Metals has already secured contracts with major mining companies to integrate LithX™ into their operations, providing real-world validation of the technology’s effectiveness in increasing recovery rates and improving efficiency. These partnerships will further demonstrate the potential of LithX™ to scale and contribute to the stability of the critical metals supply chain.
“LithX™ is demonstrating its ability to realize significant value across multiple critical metals – without the high capital costs and environmental impact of conventional methods,” Jesse Evans, co-founder and chief operating officer of Maverick Metals, said in a statement.
“As we advance field trials with major mining companies, we continue to focus on optimizing performance at scale and ensuring seamless integration into existing operations. The results so far are promising, and we’re excited to collaborate with industry leaders to expand LithX™ across the critical metals processing sector,” he added.
With the backing of leading investors and growing momentum from mining contracts tucked in its belt, Maverick Metals is well-positioned to lead the way in the future of critical metals recovery, and perhaps an industry-wide adoption of LithX™ as a transformative solution.
Outdoor Recreation • Captain Experiences