First Tellurium Has Found New Funding From Capitol Hill

Mentioned:

One of the largest non profits in Washington, D.C. focused on accelerating the energy transition has found a new project to fund. And it’s owned by a publicly traded company in Canada.

‍What’s happening:‍

First Tellurium (CSE: FTEL) has landed a commitment from non profit RESOLVE to fund the development and manufacturing of their novel thermoelectric device
The funding will be granted to PyroDelta, which First Tellurium owns a majority ownership stake in and will accelerate securing the supply of tellurium, antimony and other critical metals which are essential to manufacturing the thermoelectric device

By the numbers:‍

RESOLVE has committed to securing funding of up to $39.5M CAD to develop and manufacture Pyrodelta’s thermoelectric device
First Tellurium owns a 61% equity stake in PyroDelta

Why it matters:‍

Tellurium is critically important for the energy transition, as it is an input for solar panel manufacturing and other technologies for the energy transition
The government of Australia previously declared tellurium to be a critical mineral

Going deeper:‍

The new tellurium based thermoelectric device being developed by PyroDelta has the potential to be able to provide power to solar panels and even drones
The funding will come from RESOLVE Enterprises, which is the startup incubator arm of RESOLVE and partners with early stage companies focused on building disruptive technologies for the energy transition
RESOLVE has partnered with some of the world’s most iconic companies to help them reduce their emissions and restore the environment, including Apple (NASDAQ: AAPL) and Tiffany and Co

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