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
