GoGreen Partners Leads XtremeX Mining Technology $11M Series A
Gunderson Dettmer represented client GoGreen Partners in leading the $11 million Series A financing of XtremeX Mining Technology (XMT), a leader in innovative hybrid drilling solutions. XMT has developed an AC-electric automated coiled tubing and electric top-drive diamond core drilling rig that adapt proven oil and gas technology for the mining sector, enabling faster, safer and more sustainable drilling. The company will use the new capital to drive the development and field deployment of the first hybrid rig at Santa Cruz.
In the announcement of the transaction, GoGreen Partners CEO John Dowd said, "As the demand for critical minerals intensifies to support the global energy transition, there is a race to identify new technologies to make mineral discovery and development faster, safer and more sustainable. We believe the XMT hybrid drill rig will be an essential tool in this enormous mining-industry challenge.”
The Gunderson Dettmer deal team was led by Wes Watts and included Emma Anderson.
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