Infinite Elements has developed a biological platform capable of efficiently extracting, concentrating, and purifying rare earth elements (REEs), crucial for enabling the growing electrification movement, using synthetic biology. Their method provides a sustainable alternative to the traditional, energy-intensive, and toxic methods of extracting REEs. Infinite Elements was initially launched as Matalx Biocycle in 2022. The company was founded by Jessica Urbina (CEO) and Ivan Lima (CSO), who worked together as Research Scientists at NASA. Both Urbina and Lima bring a strong technical background in bioengineering and synthetic biology, with expertise in resource extraction and engineering of microorganisms. Since founding the company, they have already acquired two SBIR awards totalling around $500,000 in non-dilutive funding. They also participated in the Indie Bio program in 2022. Their most recent raise was a Seed round in January 2023.
Demand for REEs is growing, but obtaining REEs is technically difficult and has geopolitical implications. REEs, such as Neodymium (Nd) and Dysprosium (Dy), are incorporated into the motor and battery of electric vehicles, thus the demand for REEs are growing. However, the supply of REEs is limited: mining for these elements only takes place in a handful of locations (China, Australia, Brazil, and Canada). Further, the mining of REEs is detrimental for the environment, is resource intensive, and utilizes expensive and complex technologies. Infinite Elements provides an alternative method to obtaining REEs that has lower costs, higher efficiency, and minimal energy requirements, all while using existing waste streams as substrates. The company's core technology is rooted in synthetic biology; they have developed genetically modified organisms with optimized biomining properties and biomaterials capable of easing the filtration and recovery of specific REEs. Key advancements in synthetic biology as a whole have driven down the costs and R&D time typically associated with synthetic biology innovations which enable faster, more efficient, and cost-effective development of synthetic biology applications. Leveraging the co-founders expertise, Infinite Elements has developed a novel method for procuring REEs. Further, they have strategically positioned their business model around providing a secure supply chain of critical metals, catering specifically to tech hardware manufacturers, as the demand for these metals grows.
There are several risks that would need to be explored before investing in Infinite Elements. Firstly, the competitive landscape of REE extraction technologies such as ionic liquids for solvent extraction, electrochemical recovery methods, and Molecular Recognition Technology (MRT) are competitive alternatives to biomining approaches. The bio-based methods used by Infinite Elements are advantageous in that the operational costs may be lower and less energy and resource intensive. Additionally, Infinite Elements still has the distinct advantage of being able to use a mixed media as a substrate and obtaining highly pure metals as the output, which are more valuable than mixed REE products. Another significant hurdle is the logistical and infrastructural readiness for e-waste collection. The effectiveness of Infinite Elements' business model heavily relies on a robust system for e-waste procurement, which could be hindered by insufficient infrastructure or inefficient collection and distribution networks. Regulatory hurdles also pose a potential risk, as the regulatory landscape for e-waste recycling and metal recovery is complex and varies by region. Understanding Infinite Elements methods for tackling these challenges will be important prior to investing.
In conclusion, Infinite Elements emerges as a compelling investment proposition as the company is poised to disrupt the REE market through its synthetic biology-based solution for e-waste recycling and their team is uniquely equipped to deploy this solution.
This write-up was originally written as part of an application to G2 Ventures. It has been slightly modified for this blog post.
