Ceibo

About Ceibo

Ceibo, a Chilean mining technology firm established in 2007, is strategically positioned to address the escalating global demand for copper, a mineral crucial for the energy transition. The company was co-founded by CEO Cristóbal Undurraga, a Mechanical Engineer from Universidad Católica de Chile with an MBA from Stanford University, who has a background in both public and private sector innovation, and Jorge Errázuriz Guler. Undurraga, who has been visiting mines since childhood, leverages his deep industry exposure and engineering background to steer the company's mission.

Ceibo targets the mining industry's challenge of processing low-grade primary copper sulfides, particularly chalcopyrite, which constitutes over 70% of the world's known copper reserves but is economically challenging to extract with traditional methods. The company has developed a proprietary chemical leaching process that significantly improves copper recovery rates from these challenging ores. This technology operates similarly to an oxide heap leach but uses a novel chemical and operational process to create an optimal environment for oxidizing primary sulfide ores. The key benefit for its clients—global mining companies—is the ability to economically extract copper from previously unviable resources, effectively extending the life of existing mines and boosting production without the need for constructing entirely new facilities.

The firm's process boasts superior recoveries of over 75% in less than a year, a substantial increase from the approximately 30% recovery rate typical for leaching chalcopyrite with conventional methods. It also claims a five-fold reduction in water usage compared to traditional concentration methods. By integrating into existing mine infrastructure, Ceibo's solution minimizes capital expenditure and environmental footprint. The company has successfully raised over $30 million in a Series B funding round led by Energy Impact Partners, with participation from major industry players like BHP Ventures, Khosla Ventures, and Orion Resource Partners. This capital is being deployed to scale the technology, conduct on-site trials, and construct a demonstration plant.