Transforming Asbestos Wastes into Green Gold

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News Summary

Exterra Carbon Solutions secures CAD $20 million to innovate in repurposing hazardous asbestos mine tailings into sustainable materials and low-carbon energy.

Transforming Asbestos Wastes into Green Gold

A groundbreaking development is on the horizon in the realm of cleantech as Exterra Carbon Solutions—a Montréal-based startup—has successfully raised CAD $20 million (about USD $14.5 million) to bolster its innovative approach to repurposing hazardous asbestos mine tailings (AMT) into valuable low-carbon energy sources and sustainable materials.

Aiming for Sustainable Solutions

Founded in 2021, Exterra aims to tackle the legacy of asbestos mining head-on. With an estimated regional supply capacity of 800 million tons of asbestos mine tailings in Quebec, the company is gearing up to develop a remarkable facility known as Hub One. This new facility, scheduled to open in 2027, is projected to process an impressive 400,000 tons of AMT annually, positioning Quebec as a potential leader in producing advanced materials for the booming electric vehicle industry.

A Double Benefit: Environmental and Economic

Exterra’s ambitious initiative offers dual benefits: it aims to combat the harmful legacy of asbestos while generating valuable minerals, such as nickel concentrate and amorphous silica. The process is designed to valorize over 90% of minerals from asbestos residues, thereby supporting a more sustainable supply chain for electric vehicle electrification without the need for new mining ventures.

By utilizing advanced techniques that involve extracting minerals and storing carbon, Exterra is revolutionizing the industry. The company employs a strong acid treatment to eliminate toxic asbestos fibers, enabling the extraction of valuable silica, nickel, and magnesium oxide. The magnesium oxide produced not only boasts fireproofing qualities but also traditionally requires a carbon-intensive manufacturing process—an issue that Exterra plans to address.

A Carbon-Free Approach

Through a groundbreaking carbon mineralization process, the magnesium oxide produced is transformed into magnesium carbonate, effectively sequestering carbon dioxide within the rock itself. This innovative approach could significantly reduce the carbon footprint associated with traditional heavy industries, which collectively produced an alarming 78.3 million metric tons of CO2 in 2023 alone.

A Future Rich in Resources

As Exterra moves forward with its initiative, its revenue model primarily focuses on selling processed magnesium oxide to industrial partners, in addition to supplying nickel to smelters involved in the electric vehicle supply chain. With the potential to produce essential materials right from mining waste, the company not only aims to contribute to a greener economy but also creates a shorter supply chain for batteries, enhancing sustainability in the electric vehicle sector.

Furthermore, Exterra is not operating in isolation; other Canadian companies are making strides in repurposing mining waste and developing carbon storage solutions. Collaborations with firms such as BAIE Minerals and Deep Sky could lead to complementary operations, further driving advancements in the quest for sustainable, low-carbon industrial practices.

Investing in the Future

Currently employing just 13 individuals, Exterra Carbon Solutions is on a fast track to expand its team to 20 members within the next 18 months. The company’s vision is backed financially through the purchase of carbon credits facilitated by programs with Frontier Climate and MaRS, solidifying its commitment to environmentally responsible practices.

As Quebec’s once-dominant asbestos industry faces reputational challenges due to severe health risks linked to the material, including various cancers that account for over 70% of work-related cancer deaths, Exterra stands at the forefront of a pivotal shift. The initiative not only attempts to rewrite the narrative surrounding asbestos but also emphasizes the necessity of innovation in transforming toxic legacies into a cleaner, more sustainable future.