MTM Raises A$50M at A$0.55 to Scale Flash Joule Heating Technology
MTM Critical Metals has raised A$50 million through a well-supported institutional placement to accelerate the rollout of its proprietary Flash Joule Heating technology in the U.S. This capital injection marks a pivotal step in MTM’s transformation into a U.S.-focused clean technology company.
- A$50 million raised at A$0.55 per share from institutional investors
- Funds to support U.S. commercial deployment of Flash Joule Heating platform
- Placement anchored by leading Australian institution with strong international backing
- Proceeds allocated to infrastructure, feedstock procurement, R&D, and team expansion
- Upcoming shareholder meeting to approve second tranche of placement
A Strategic Capital Raise
MTM Critical Metals Limited, an ASX-listed clean technology company, has successfully raised A$50 million through a two-tranche institutional placement priced at A$0.55 per share. This capital raise, led by Petra Capital, underscores growing investor confidence in MTM’s proprietary Flash Joule Heating (FJH) technology and its ambitious U.S.-centric growth strategy.
The placement was notably anchored by a top-tier Australian institution and attracted strong interest from international investors, reflecting a broad endorsement of MTM’s transition from technical validation to commercial execution. The company’s Managing Director and CEO, Michael Walshe, described the raise as a “step-change” that positions MTM to accelerate its clean technology platform in the U.S.
Deploying Flash Joule Heating at Scale
MTM’s Flash Joule Heating technology, developed at Rice University, offers a cutting-edge electrothermal process for metal recovery and mineral processing. It promises significant improvements over traditional methods by rapidly heating materials in a controlled environment, enabling efficient extraction of critical metals such as lithium, gallium, and gold from various feedstocks including e-waste and refinery scrap.
The funds raised will be strategically deployed to commission MTM’s 1 tonne-per-day demonstration facility in Chambers County, Texas, and to prepare up to four additional operational sites for modular metal recovery units. This infrastructure build-out is a critical step toward establishing MTM as a first-mover in sustainable, industrial-scale metal recovery solutions within North America.
Building a U.S. Industrial Technology Platform
Beyond infrastructure, the capital will support feedstock procurement, research and development, and expansion of MTM’s technical and commercial teams at its U.S. campus. The company is also deepening engagement with U.S. federal programs aimed at strengthening critical minerals supply chains, aligning MTM’s growth with broader national priorities.
MTM plans to rebrand as Metallium Ltd, reflecting its evolving identity as a U.S.-focused industrial technology company. This rebranding is expected to coincide with key commercial milestones, including the commissioning of its Texas facility and deployment of initial commercial modules.
Looking Ahead
The placement’s second tranche, subject to shareholder approval at a meeting scheduled for early August 2025, will complete the capital raise. If approved, MTM will have the financial strength to execute its near-term milestones decisively, moving from prototype to production and scaling its innovative technology across the U.S.
While the raise signals strong institutional backing and momentum, the company’s future success will hinge on the successful commissioning of its facilities, securing feedstock supply, and establishing commercial partnerships. Investors will be watching closely as MTM transitions from promising technology to operational reality.
Bottom Line?
MTM’s substantial capital raise sets the stage for a decisive push into U.S. clean tech markets, but execution risks remain as it scales its innovative metal recovery platform.
Questions in the middle?
- Will MTM secure shareholder approval for the second tranche of the placement?
- How quickly can MTM commission its Texas demonstration facility and begin commercial output?
- What partnerships or offtake agreements will MTM establish to support its U.S. expansion?
