Endolith

“So a key thing to note about these heap leeches is they're self-contained environments. They are double-lined, if not quadruple-lined, they are in place, and native microbes already exist there.”

“So at Endolith, we use microbes and data to pull more copper out of material that's already been mined at operations that already exist.”

“There's no downstream processing. These bugs don't accumulate copper inside of them to where we have to, like, split them open and harvest the copper. It's not like that. They just facilitate liberation of more copper faster.”

“We are not genetically engineering microbes. We are using communities that already exist, and we essentially run them through, like, an Olympic training boot camp or techniques that are adjacent to something called adaptive laboratory evolution, where”

“In lab, we've seen 1.7 to 1.9 times greater uplift, but depending on the complexity, if it's primary or secondary sulfides or oxides, it can change and it can vary so much.”

“The bugs that are there are not necessarily the same ones as the microbes that are doing things, and if you can't tie that to the chemistry and the mineralogy and the operating parameters, it doesn't actually turn into a lever that you can use.”

“We, not having CVCs on our cap table has been a deliberate structural choice.”

“What we do at Endolith is we drive in our bio rig. It is where we grow our microbes on site. It has instrumentation. It has the ability to upload data, and we grow microbes. We grow them, and we plug them directly into those sulfuric acid irrigation lines. Not…”

“The challenge, though, is that it's still a stepwise way of de-risking and mining. A hundred million dollars today is not going to fundamentally change. I do not believe our ultimate success. If it did change that, we'd be out fundraising for a hundred million…”

“We work closely with a lot of the large mining companies. We publicly are working with BHP and Rio Tinto”

“We also made an early call to stay away from revenue shares on purpose. Part of that is because the second your fee is tied to a percentage of the customer's yield, you're incentivized to argue with them about where that improvement came from.”