The World Economic Forum (WEF) announced at Climate Week in New York that Tidal Metals, a company that derives magnesium from seawater and brine, is a winner of its Sustainable Mining Challenge. The challenge is a competition among innovators who dramatically reduce the energy consumption and environmental impact of the mining and metals lifecycle.
Tidal Metals uses only electricity and water to collect magnesium. The company said every 100 gallons of seawater contains over a pound of magnesium; nothing is added to the water, and no waste is generated. Magnesium can also be collected from brine that results from desalination. When powered by renewable electricity, the company said, its magnesium will be fully decarbonized, sustainable, and virtually unlimited.
Founded in 2016, the New Jersey company also recently announced the completion of its $8.5 million Series Seed funding round led by DCVC with participation from First Spark Ventures and Bidra Innovation Ventures. The company will use the funding for development and construction of a commercial pilot plant.
“Magnesium is a critical metal for aerospace and defense and the lightweighting of transportation and mobility solutions,” said Earl Jones, Chairman of Tidal Metals and a DCVC Operating Partner. “Tidal Metals can fundamentally change this industry by providing an assured supply of low-cost, carbon neutral magnesium metal that does not require terrestrial mining. Not only will Tidal Metals decarbonize a multi-billion-dollar industry, but it will catalyze growth with new applications for magnesium metal as well as innovation in magnesium alloys.”
The European Union, as well as the United States Departments of Energy and Defense, have all identified magnesium as one of the critical materials needed to drive the energy transition. Today, magnesium mining and refining are energy intensive and environmentally destructive and give magnesium the largest carbon intensity of all structural metals, including steel, aluminum, and titanium.
Dr. Howard Yuh, CEO of Tidal Metals, said, “After years of applied research and development, Tidal Metals now has the technology to fundamentally change the techno-economics of mineral recovery from seawater and brines. Our focus on magnesium metal was driven by the dire need to expand magnesium production, lower its cost, and provide a much-needed solution to decarbonize this industry. As the world faces water scarcity for billions, we also see huge benefits to reducing the cost of desalinated water through the coproduction of high value minerals such as magnesium.”
