Chile-based Ceibo Announces $30M Series B
Gunderson Dettmer represented Chile-based client Ceibo, an advanced copper extraction technology company, in its $30 million Series B financing led by Energy Impact Partners. Ceibo has developed a novel leaching process and solution that economically increases the production of copper, using existing infrastructure at mines with a lower environmental footprint than current state-of-the-art.
The new capital included participation from CoTec Holdings, Audley, Orion Resources, Unearth, Pincus Green, Khosla Ventures and Aurus Ventures and will be used to accelerate the scale-up of its proprietary technology, drive several on-site trials and prove the technology’s value and versatility at scale.
In the announcement of the transaction, Ceibo CEO and co-founder Cristóbal Undurraga said, "Following positive results from a lengthy validation process using minerals from leading copper companies, we're now poised to rapidly scale our technology. This capital raise, together with the strategic support from investors experienced in scaling clean, industrial, and mining technologies, will help us accelerate plans to deploy our technology globally and meet society’s need."
The Gunderson Dettmer deal team was led by Dan Green and Brian Willbur and included Colin Chapman, Federico Varni, Garrett Darling and Tiffany Lam.