As the clean energy economy expands, discovering minerals and metals is becoming increasingly important. The answer may lie in artificial intelligence.
Electric vehicles, solar panels and hydrogen fuel cells all have one thing in common: precious metals are needed.
Historically, it was a difficult process of finding the metals and then pulling them off the ground. But new technologies from a range of companies may be changing the game.
Kobold Metals, Verai and a startup called Earth AI are in the race to bring metal to market as soon as possible. Earth AI combines AI-powered mineral discovery software with proprietary drilling technology. Its data dates back 50 years.
“We train our AI to learn from the failures and successes of geologists over the past decades who have explored where to look in the future,” said Roman Teslyuk, CEO of Earth AI. Metal places to make better predictions.”
When the system discovers that it is considered a metal deposit, Earth AI can only be verified in holes the size of a tennis ball. Teslyuk said using this mining process would cost half the cost, and half the cost was half the time it had previously taken. According to online mining data, income from a single annual mine revenue may range from $50 million to $3 billion.
“We drilled down to 2,000 feet and grabbed a sample of rock that had never seen light, and that metal in the rock could build hundreds of millions of electric cars,” Teslyuk said. “They could make our grid renewable. This rock could Get us out of hydrocarbons.”
Instead of exploring existing mines, Earth AI finds new areas and sells that information to mining companies.
“The market for these minerals is huge,” said Jamie Lee, managing partner at Earth AI investor Tamarack Global. “The way they approached this really caught our attention because of their business model and they trained large language models,” said Jamie Lee, managing partner at Earth AI investor Tamarack Global. The way.”
Other investors include Y Combinator, Cantos Ventures, Scrum Ventures, Alpacas, Sparkwave Capital and AredMatch. The company raised a total of $38 million.
Earth AI explores on its own and explores with partners to find deposits faster. The company recently discovered using AI as part of a joint venture with traditional minerals, one of Australia’s largest proven palladium deposits.
CNBC producer Lisa Rizzolo contributed to the work.
