Chrysalix RoboValley Fund Invests in Sortera Alloys, Developers of a Breakthrough Technology …
Vancouver, BC and Delft, Netherlands , Oct. 13, 2020 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a global venture capital fund with a long history commercializing step-change innovation for resource intensive industries, announces an investment in Sortera Alloys, developers of an intelligent sorting system for the upcycling of non-ferrous scrap metal, including Aluminum, Copper, Zinc and Brass. The system enables accurate, high throughput sorting by metal type and alloy composition through a combination of sensor fusion (XRF, Optical), AI/ML image processing and an advanced scrap feeder design.
“Chrysalix is making the circularity of metals a major theme of our new fund. Primary aluminum production accounts for 1% of global GHGs and to achieve the forecasted global demand and climate change targets, the industry must deliver significant decarbonization,” said Alfred Lam, Partner at Chrysalix Venture Capital. “Sortera’s sorting systems enable the recyclability of aluminum for high-value end products thereby saving up to 95% of the energy & GHGs as compared to primary production.”
Nalin Kumar, CEO of Sortera commented, “After the successful demonstration of our patented high throughput AI sorting technology under the DOE ARPA-E METALS project, there has been a lot of interest from the investment community to implement this technology at commercial scale. We chose to work with Chrysalix because of their track record for long term commitment to global sustainability efforts. In addition to the infusion of funding from Chrysalix to develop and demonstrate the first industrial scale metal recycling facility, their international partners will enable us to expand the impact of our technology at a global scale.”
Sortera is a spin-out from the ARPA-E METALS Program and is led by a team of seasoned innovators in the fields of advanced materials, electronic instrumentation and equipment development. “ARPA-E’s METALS program challenges teams to find cost-effective and energy-efficient manufacturing techniques