Australian metals technology company Metallium says US cleantech investors have backed a A$75 million (US$50 million) equity raise ahead of a planned NASDAQ listing in the third quarter of this year.
Australian Securities Exchange-listed Metallium, which is commercialising its Flash Joule Heating (FJH) electrothermal method of extracting metals from e-waste and scrap, will use the funds to support scale-up of its Gator Point plant in Texas, USA, and “capital markets positioning”.
Trading of Metallium American Depositary Receipts on the OTCQX market began earlier this month.
“This … strategic capital raise reflects strong institutional support for Metallium’s US-focused strategy and our progress in moving from development into commercial execution,” CEO Michael Walshe said.
“With commissioning underway at Gator Point, a secured Glencore feedstock agreement, several collaborations and testing across red mud, gallium and REEs, and our ADRs trading on OTCQX, we are seeing increasing interest from US investors seeking exposure to critical metals processing and enabling technologies.
“This capital provides further support for the company to fast track its development and commercial activities as we scale operations and progress toward our planned NASDAQ listing in Q3 2026.”
Metallium, formerly known as MTM Critical Metals, didn’t name its US backers but said its new capital raising was cornerstone-led by institutional investors with mandates focused on critical minerals, recycling technologies and domestic processing capacity. Petra Capital was lead manager and bookrunner on the equity raise while Odeon Capital Group advised Metallium in the US.
The company’s patented FJH technology is being used for extraction of materials such as gallium, germanium, antimony, rare earth elements and gold from feedstocks such as refinery scrap, e-waste and monazite.
Metallium raised A$50 million at 55c-a-share in the middle of 2025.
This month’s issue was at A84c a share. Metallium has traded down more than 10% to 87c over the past week, giving it a market capitalisation of circa-A$546 million.
