Bill Gates’ fund invests $20M in AI-enhanced geological robotics startup for clean energy.
Bill Gates-owned Breakthrough Energy Ventures is a group of organizations that invests in various ventures. The initiative aims to make the world get to a net-zero emission state. GeologicAI based in Calgary, Canada has secured a $20 million funding from BEV in its Series A funding to build AI-powered robot geologists.
Founded in 2013 to offer rock analytics for modern mining, the startup aimed to streamline the data-entry-heavy core logging process.
It currently has the capability to analyze rock samples and identify resources below the Earth’s surface in a non-destructive manner. GeologicAI’s robot geologists can improve the efficiency of finding and mapping natural resources while reducing the risk involved.
GeologicAI has spent the last few years proving out its technology across a variety of mineral types and geologic environments, with both junior and major mining companies, and throughout the exploration, development, and operating segments of the mining ecosystem. We’ve now demonstrated success with many customers and are ready to bring this much-needed technology to mining companies across the world.Yannai Segal, Chief Strategy Officer, GeologicAI (BetaKit)
Without sufficient quantities of key minerals like copper, nickel, cobalt, and lithium, the transition to a clean energy economy simply cannot happen. GeologicAI’s multi-sensor core scanning robots and AI-assisted analysis are a powerful combination, and we believe their technology will significantly accelerate key mineral discovery and recovery.Carmichael Roberts, VP Europe, Breakthrough Energy
The current levels of minerals such as lithium and cobalt are running dangerously low. Bill Gates’ investment in GeologicAI is being hailed as an investment at the right time. The robots will help in finding and mining new deposits of these minerals that are crucial for a shift toward a clean energy future, mainly for rechargeable batteries.
The market for these metals and other minerals is fast-growing with more companies shifting to renewable energy sources, automobile manufacturers shifting to EVs, and people becoming more climate-conscious globally. As such, this could just be a great bet. Only time will tell how much good can GeologicAI’s robots do.