Founded in 2024 after going through Carbon13’s Venture Builder, Forge Minerals has closed £1M in pre-seed funding. The round was co-led by Sustainable Ventures and The Conduit Impact Fund with co-investment from Old College Capital the University of Edinburgh’s in-house venture investment fund, One Planet Capital, Kappika Ventures, and Scottish Enterprise.
Carbon intensive mineral production
Minerals like magnesium carbonate have a wide range of industrial uses from fireproofing materials, neutralising the acid in wastewater, pharmaceuticals, and more. Traditional mineral production is a carbon intensive process involving energy intensive mining, higher temperature calcination and creation of CO₂ as part of chemical reactions.
The solution
Forge Minerals have found a way to make magnesium carbonate production circular by making use of waste CO₂ and transforming this into high purity mineral products. New technology created by Forge Mineral unlocks a carbon neutral carbonate manufacturing process that, at scale, can drive structural transformation across several sectors.
The opportunity
Demand for magnesium carbonate is on the rise as the market is projected to reach USD 9.7 billion in 2026 and grow to USD 18.2 billion by 2036. Making the production process sustainable while maintaining high purity standards is essential to meet demand without increasing environmental harm.
New funding comes with a brand-new lab facility at the Edinburgh Innovation Hub, where Forge minerals will begin testing. Industrial partnerships are also vital for the next stage of growth as Forge Minerals begins to integrate low-carbon minerals into existing supply chains.
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