Seed financing; equity, debt, and equipment financing · Industrial tech
Solcoa Industries secures $75m Seed package for rare-earth metal production
The financing combines $45m equity with $30m debt and equipment funding to build Solcoa One and expand reactor manufacturing.
Two financing tranches for the production build-out
Bain Capital Ventures led the $45 million equity portion of Solcoa’s $75 million package, with Gigascale Capital, Long Journey, Felicis and Dylan Field participating. J.P. Morgan anchored the separate $30 million debt and equipment-financing tranche.
The funding will support construction and commissioning of Solcoa One, the planned 500-tonne-per-year Nevada plant. It will also expand reactor manufacturing in Alameda and grow the engineering and research teams behind the production system.
Use of funds
Construct and commission Solcoa One
Expand reactor manufacturing in Alameda
Grow engineering and research teams
Funding history
Seed financing; equity, debt, and equipment financing · This round$75M