Vale Ventures, Vale's corporate venture capital initiative, has announced an investment in transformational biology start-up, Allonnia, based in Boston, USA. Vale's aim is to closely monitor the evolution of this disruptive technology and support the development of its application in mining. Vale Ventures investment is part of Allonnia’s Series A Extension capital raise of US$30M, becoming a minority shareholder.

Allonnia takes novel approaches in biotechnology and engineering to develop new biological systems, which can be used in various industry applications. This technology has the potential to revolutionize the way some processes are carried out in mining.

"In Allonnia, we see a strategic partner that can support our goal of promoting low carbon footprint mining, using cutting-edge technologies to help reduce and remediate waste from our processes," explains Bruno Arcadier, Head of Vale Ventures. "This is a great step forward as we continue to collaborate with forward-thinking startups that bring big ideas and bold thinking to the challenges of becoming a leader in sustainable mining."

Vale Ventures and sustainable mining

Announced in June 2022, Vale Ventures has committed $100 million in capital for investments into pioneering technology startups around the world. In addition to Allonnia, the initiative has in its portfolio a stake in Boston Metal, a startup developing a solution for the decarbonization of steel production.

Vale Ventures is acquiring minority stakes in startups focused on four themes related to sustainable mining:

• Decarbonization in the Mining Chain. Investing in technologies that help Vale and its customers reduce carbon emissions, supporting the company's ambition to become carbon neutral by 2050;
   
• Zero-waste Mining. Reducing waste and environmental impact from mining processes, contributing to a circular economy and generating new revenue streams;
   
• Energy Transition Metals. Accelerating the industry’s capacity to supply metals essential for the energy transition and emerging sources of demand;
   
• Mining of the Future. Investing in new technologies that will change the way mining companies run their business.

By assembling a portfolio of disruptive solutions, Vale Ventures expects to generate both financial and strategic returns to benefit Vale, its customers, and society.

To learn more and submit ideas, entrepreneurs are encouraged to visit https://vale.com/vale-ventures