Allonnia Secures Over $20 Million to Boost Critical Materials Biotechnology

Allonnia, a pioneering bio-ingenuity company focused on scalable solutions for mineral recovery and environmental impact reduction, has announced a significant fundraising achievement of over $20 million in a Series A extension round. The financing, led by prominent investors including Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners, elevates Allonnia's total funding to over $100 million.

This financial boost comes in response to the surging global demand for essential materials like copper, nickel, lithium, and rare earth elements, which are vital for electric vehicles, grid electrification, AI data centers, and national security systems. As ore grades have plummeted by as much as 50% over recent decades, mining companies are increasingly seeking innovative ways to extract more value from their existing operations while minimizing environmental footprints.

To meet this challenge, Allonnia has developed the D-Solve™ platform, which utilizes the Allonnia Biosolution™—a selective, recyclable solution that dissolves and removes troublesome gangue minerals to produce cleaner, higher-value concentrates. D-Solve™ is designed to integrate seamlessly into current operational flowsheets, enabling miners to enhance recovery and throughput while decreasing tailings and chemical consumption.

The new funding will facilitate the commercial rollout of D-Solve™, including the initiation of the company's first mine-site pilot. This development builds on successful scale-up results from a five-day continuous demonstration at SGS Lakefield in Ontario, which achieved a 40% reduction in magnesium impurities and an 18% increase in nickel grade. Allonnia previously announced its plans to deploy the first mobile D-Solve™ unit at Eagle Mine, North America’s only active nickel mine, with field operations set to commence in December.

“The world cannot meet its critical mineral needs with traditional approaches alone,” remarked Nicole Richards, CEO of Allonnia. “D-Solve provides a new path forward by improving concentrate quality, increasing production and reducing the burden of inputs and waste. This investment accelerates our ability to transition from successful demonstrations to real world impact across active mine sites.”

Investors have expressed confidence in Allonnia’s technology as a solution to one of the key challenges in the energy transition. “Allonnia is developing differentiated biotechnologies to address critical challenges in mineral supply chains. We are pleased to deepen our partnership with Allonnia as the Company continues to translate its strong technical foundation into practical, scalable, and innovative solutions,” stated Brett Zbar, Managing Director and Global Head of Life Sciences at General Atlantic.

"At Bison, we invest in companies that pair scientific ambition with a disciplined path to market. Allonnia exemplifies this approach through the development of the type of breakthrough technologies needed to strengthen critical mineral supply chains and reduce environmental impact,” added 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 is actively broadening its selective separation portfolio across two primary markets: metals and mining, which includes impurity removal, concentrate upgrading, and rare earth recovery; and emerging contaminants, featuring solutions such as SAFF®, a PFAS treatment platform.