Jetti Resources Valuation, Funding & Investors

Jetti Resources is valued at $2.5B as of October 2022.

Last Jetti Resources valuation

$2.5B

Series D · Oct 2022

Last Jetti Resources funding round

$100M

Series D · Oct 2022

Cumulative funding Jetti Resources raised

$169M

across 3 funding rounds

Key investors in Jetti Resources

Jetti Resources Overview

About Jetti Resources

Jetti Resources is a Denver-headquartered mining technology company founded in 2014 that deploys catalytic hydrometallurgy to leach copper from chalcopyrite ores previously deemed uneconomic. Its process boosts recovery rates to 85% at sites like Kennecott and increases output by 30% without new infrastructure. Backed by $60 million from Newmont and Mitsubishi, Jetti treats 100 million tons annually across North and South America.


Founded

2014

HQ

United StatesBoulder, CO

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$2.5B (Oct 2022)

Jetti Resources Valuation

Jetti Resources is currently valued at $2.5B, based on its Series D in October 2022.

The $100M round was led by T. Rowe Price, with participation from DNS Capital, Mitsubishi, Freeport-McMoRan, BHP Ventures, Rothschild & Co. and 1 other investor.

Jetti Resources valuation by funding round

Jetti Resources valuation by funding round
DateStageValuation
Oct 2022Series D$2.5B

Jetti Resources Funding History

Jetti Resources has raised a total of $169M across 3 funding rounds.

Jetti Resources' first fundraising round was a $19M Series A in September 2017. The most recent completed round was a $100M Series D in October 2022.

Jetti Resources funding rounds

Jetti Resources funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2022Series DT. Rowe Price (lead); DNS Capital; Mitsubishi; Freeport-McMoRan; BHP Ventures; Rothschild & Co.; Teck Resources$100M$2.5BJetti Resources is a copper mining technology company founded in 2014 by Andrew Perlman and Mike Outwin, headquartered in Colorado, United States. It develops a catalyst technology that enables extraction of copper from low-grade primary sulfide ores like chalcopyrite, the world's most abundant copper mineral, by disrupting the sulfur-metal bond and unlocking trillions in trapped resources. The company operates a commercial plant at a Capstone Copper mine in Arizona and plans expansion with other major miners. In October 2022, Jetti Resources raised $100 million in a Series D funding round led by T. Rowe Price Associates, with participation from existing investors BHP Group (via BHP Ventures), Freeport-McMoRan, Mitsubishi Corporation, and Teck Resources, plus new investor Rothschild & Co. The round valued the company at a post-money valuation of $2.5 billion. Proceeds are intended to meet growing demand for the technology from major copper mining companies and support deployment at new sites. Jetti's innovation addresses a critical gap in copper production, as traditional methods struggle with low-grade sulfides below 1% metal content. CEO Mike Outwin highlighted the financing's role in scaling operations amid rising interest from the industry.
Jun 2021Series CMitsubishi (lead); T. Rowe Price; Freeport-McMoRan; BHP Ventures; Orion Resource Partners$50M--
Sep 2017Series AKittyHawk (lead); DNS Capital; Kleiner Perkins; Zoma Capital$19M-Jetti Resources is a Vancouver-based natural resources technology company founded in 2014 that develops hydrometallurgical technology to extract valuable metals, particularly copper, from low-grade primary sulfide ores like chalcopyrite using a novel catalyst that integrates with existing heap leaching methods. Jetti's technology targets the abundant but challenging low-grade copper resources, enabling recovery of trapped value worth trillions, and by 2022 operated a commercial plant at a Capstone Copper mine in Arizona with plans for broader deployment. The company closed a $24 million Series A financing round in October 2017, speculated to include investors such as Silicon Valley's Kleiner Perkins Caufield & Byers and DNS Capital, though investors were not publicly disclosed at the time. Prior to this, Jetti had received approximately $300,000 from the BC Innovation Council Ignite Program in 2016. Later funding included a Series D round of $100 million in October 2022 led by T. Rowe Price with participants like BHP, Freeport-McMoRan, Teck Resources, Mitsubishi Corp., Rothschild & Co., and existing investors including DNS Capital, at a $2.5 billion valuation. Total funding across rounds reached $169.3 million by 2022.

Who has invested in Jetti Resources?

11 investors have backed Jetti Resources across its funding rounds, including T. Rowe Price, Mitsubishi, DNS Capital, BHP Ventures, Freeport-McMoRan and Kleiner Perkins.

Lead investors include T. Rowe Price, Mitsubishi and KittyHawk.


Jetti Resources Investors

Investors in Jetti Resources by funding rounds participated
InvestorHQRoundsRoleFirst check
DNS CapitalUnited StatesChicago, IL2ParticipantSep 2017
T. Rowe PriceUnited StatesBaltimore, MD2LeadJun 2021
MitsubishiJapanTokyo2LeadJun 2021
Freeport-McMoRanUnited StatesUnited States2ParticipantJun 2021
BHP VenturesAustraliaMelbourne2ParticipantJun 2021
Kleiner PerkinsUnited StatesSan Francisco, CA1ParticipantSep 2017
Zoma CapitalUnited StatesDenver, CO1ParticipantSep 2017
Rothschild & Co.FranceParis1ParticipantOct 2022
Teck ResourcesCanadaCanada1ParticipantOct 2022

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Jetti Resources Competitors

Jetti Resources competitors include listed companies like Xinyi Solar, SolarEdge, SMA Solar Technology and Sunrun, and private ones like Electra and Pivot Bio.

Public and private companies comparable to Jetti Resources
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ElectraUnited StatesBoulder, COPrivate--$1.2B-
Xinyi SolarChinaChinaPublicly listed$3.1B$544M$2.3B1.6x
SolarEdgeUnited StatesUnited StatesPublicly listed$1.2B($365M)$2.2B1.6x
SMA Solar TechnologyGermanyGermanyPublicly listed$1.7B($77M)$2.2B1.1x
SunrunUnited StatesUnited StatesPublicly listed$3B$546M$2.1B6.0x
Pivot BioUnited StatesSan Francisco, CAPrivate--$2B-

Jetti Resources Public Comps

Jetti Resources is still privately-owned, but its public comps include Evolution Metals & Technologies, Kaiser Aluminum, Nickel Industries, Denison Mines, Sunshine Silver Mining, Xinyi Solar, Emsteel, Silvercorp Metals, Compania Minera Poderosa and Liontown.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Evolution Metals & Technologies-($2M)-190.2x(1231.7x)(69.6x)
Kaiser Aluminum$3.4B$322M1.1x0.8x11.0x8.3x
Nickel Industries$1.6B$242M2.4x2.1x16.1x9.2x
Denison Mines$4M($150M)698.1x235.5x(16.4x)(58.1x)
Sunshine Silver Mining$501K($31M)4138.0x-(66.3x)-
Xinyi Solar$3.1B$544M1.3x1.6x7.7x8.5x
Emsteel$2.4B$338M0.8x-5.7x-
Silvercorp Metals$438M$119M6.0x5.7x22.1x12.1x

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Common questions about Jetti Resources

When was Jetti Resources founded?Jetti Resources was founded in 2014.
Where is Jetti Resources headquartered?Jetti Resources is headquartered in Boulder, CO, United States.
Is Jetti Resources publicly listed?No, Jetti Resources is a private, VC-backed company.
What is Jetti Resources' valuation?Jetti Resources was last valued at $2.5B in its Series D in October 2022.
How much funding has Jetti Resources raised?Jetti Resources has raised $169M across 3 funding rounds.
What was Jetti Resources' last funding round?Jetti Resources' last funding round was a $100M Series D in October 2022, led by T. Rowe Price.
Who are Jetti Resources' investors?Jetti Resources' investors include DNS Capital, T. Rowe Price, Mitsubishi, Freeport-McMoRan, BHP Ventures, Kleiner Perkins, Zoma Capital, Rothschild & Co., Teck Resources, KittyHawk and 1 other.
Which companies are comparable to Jetti Resources?Companies comparable to Jetti Resources include Electra, Xinyi Solar, SolarEdge, SMA Solar Technology, Sunrun and Pivot Bio.

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