News Summary

Montréal-based cleantech company Exterra has raised a $20-million Series A round to develop its technology for repurposing mining waste into valuable materials that can aid in decarbonization. The round, co-led by Clean Energy Ventures and BDC Capital, will support Exterra’s plans to open the world’s largest asbestos mitigation plant in Québec by 2027. Exterra’s innovative approach involves extracting minerals from mining byproducts and using them to store carbon, ultimately contributing to the circular economy and fighting climate change. The startup’s techniques include transforming asbestos tailings into materials like silica, nickel, and magnesium oxide, with the latter being used in a carbon mineralization process to sequester carbon dioxide. Exterra aims to process 400,000 tonnes of asbestos mine tailings annually, positioning itself as a leader in sustainable mining practices.