US-based technology-driven natural resources company Jetti Resources has secured $50m in Series C funding round to support the rapid deployment of its copper extraction technology.

The funding round was led by existing strategic investor Mitsubishi.

New investors Freeport-McMoRan, BHP Ventures, Orion Resource Partners, and funds and accounts advised by T. Rowe Price Associates also have participated in the funding round.

Following the close of its Series C financing, the company has taken its capital raise to more than $100m for the development and deployment of its technology.

With its wide network of both upstream with copper mines and downstream with end users of copper, Mitsubishi  is expected to support Jetti as it begins to see the rapid growth phase of its development.

Jetti Resources CEO and co-founder Mike Outwin said: “Jetti’s financing round has been backed by two of the world’s largest copper mining companies, a leading global copper trader and mine owner, and a premier institutional investment fund and mining private equity group.

“These industry leaders recognize the potential for Jetti’s environmentally friendly technology to unlock vast untapped copper resources within their portfolios. The funds raised will enable Jetti to further deploy its technology across large scale copper mining operations.

“We look forward to working with all investors to accelerate the adoption of Jetti’s technology and deliver much needed “green copper” to meet the world’s needs for a low-carbon electrified future.”

Jetti validated its technology at Pinto Valley mine

Since the closing of its Series B round in 2019, Jetti has commercially validated the effectiveness of its technology at Capstone Mining’s Pinto Valley mine in Arizona.

During the first year of its partnership with Capstone, Jetti’s irrigated cathode production per area doubled, and is currently in discussions to expand the partnership.

Jetti has a portfolio of 23 projects at various stages, including five active pilots and three opportunities transitioning to commercial status.

Headquartered in Boulder, Colorado, US, the company was founded by  Outwin and board member Andrew Perlman in 2014.