Phoenix Tailings Valuation, Funding & Investors

Phoenix Tailings is valued at $360M as of February 2026.

Last Phoenix Tailings valuation

$360M

Series B · Feb 2026

Last Phoenix Tailings funding round

$30M

Series B · Feb 2026

Cumulative funding Phoenix Tailings raised

$133M

across 6 funding rounds

Key investors in Phoenix Tailings

  • Presidio Ventures
  • MPower Partners
  • Envisioning Partners
  • IQT
  • Sahin Boydas
  • Yamaha Motor Ventures

Phoenix Tailings Overview

About Phoenix Tailings

Phoenix Tailings is a Massachusetts-based technology company developing processes to recycle bauxite residue, known as red mud, from aluminum production to recover rare earth elements and critical minerals. The firm targets materials essential for defense, electric vehicles, electronics, and biotechnology sectors, operating pilot facilities that process thousands of tons annually. Founded in 2021, Phoenix Tailings partners with aluminum producers in the United States and Australia to remediate over 4 billion tons of global stockpiles.


Founded

2019

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$360M (Feb 2026)

Phoenix Tailings Valuation

Phoenix Tailings is currently valued at $360M, based on its Series B in February 2026.

The $30M round included Traxys S.A., MPower Partners, Sahin Boydas, Olive Tree Capital, Geodesic Capital and 3 other investors.

Phoenix Tailings valuation by funding round

Phoenix Tailings valuation by funding round
DateStageValuation
Feb 2026Series B$360M

Phoenix Tailings Funding History

Phoenix Tailings has raised a total of $133M across 6 funding rounds.

Phoenix Tailings' first fundraising round was a $9M Series A in July 2021. The most recent completed round was a $30M Series B in February 2026.

Phoenix Tailings funding rounds

Phoenix Tailings funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2026Series BTraxys S.A.; MPower Partners; Sahin Boydas; Olive Tree Capital; Geodesic Capital; Aether VC; Eni Next; Envisioning Partners$30M$360MPhoenix Tailings is a U.S.-based rare earth metals production company that builds a circular supply chain from tailings to finished metals and alloys, operating refining facilities in Massachusetts and New Hampshire without toxic byproducts. It produces critical metals like NdPr, dysprosium, terbium, and plans to expand to samarium and yttrium for energy, defense, and manufacturing applications. The company addresses the midstream bottleneck in U.S. rare earth supply chains by scaling oxide-to-metal conversion. On February 19, 2026, Phoenix Tailings closed a $40.2 million oversubscribed Series B-3 amplification round, consisting of $30.2 million in equity and $10 million in venture debt from Nomura, bringing total Series B funding to $116.6 million. It was offered exclusively to existing investors and select strategic partners like Traxys, Eni Next, and Geodesic, championed by Series A lead Olive Tree Capital. Funds will accelerate U.S. rare earth production expansion, scaling capacity from ~200 to over 1,000 metric tons per year at the New Hampshire facility, launching new products, expanding the team, and enhancing execution to meet global demand. The raise underscores investor confidence in Phoenix Tailings' technical execution and role in securing domestic critical mineral supply chains amid national security priorities. Phoenix Tailings has backing from diverse investors including IQT (In-Q-Tel), Builders Vision, Yamaha Motor Ventures, Techstars, Presidio Ventures, and others, positioning it as a leader in clean, domestic rare earth production outside China.
Dec 2025Series BSahin Boydas---
Apr 2025Series BEnvisioning Partners (lead); Escape Velocity (lead); MPower Partners; Yamaha Motor Ventures; Builders Vision; Presidio Ventures$33M-Phoenix Tailings is a U.S.-based rare earth metals production company founded by MIT alumni, focused on building a stable, circular rare earth supply chain from tailings and recycled waste to finished metal. The company has developed proprietary technology for economic, safe, and emissions-free processing of rare earth elements into final metals and alloys, operating domestic refining facilities in Massachusetts and New Hampshire. The company's initial Series B round closed at $43 million, led by Envisioning Partners with participation from BMW, Yamaha Motor Ventures, Escape Velocity, MPower Partners, and IQT. An extended second close of $33 million was anchored by Escape Velocity (founded by former Goldman Sachs executives Ganesh Ramani and Ram Sundaram), bringing total Series B funding to $76 million, with additional participation from Builders Vision, Yamaha Motor Ventures, MPower Partners, and Presidio Ventures (Sumitomo Corporation's venture arm). The funding subsequently expanded further to $116.6 million total Series B through a B-3 amplification round in February 2026, consisting of $30.2 million in equity and $10 million in venture debt from Nomura, with new strategic partners including Traxys, Eni Next, Geodesic Alliance Fund, and Aether VC. Phoenix is building a 200-tonne-per-annum production facility in Exeter, New Hampshire, scheduled to come online by summer 2025, with plans to expand larger processing facilities across the U.S. and potential public share offerings in coming years. As of December 2025, the company also received $1.6 million in federal funding from ARPA-E to develop technology for extracting critical minerals from wastewater and non-conventional sources, supporting its mission to create a fully domestic, end-to-end critical metals supply chain with zero reliance on Chinese inputs, equipment, or technology.
Dec 2024Series BEnvisioning Partners (lead); MPower Partners; Yamaha Motor Ventures; Escape Velocity; BMW i Ventures; Builders Vision; Presidio Ventures; IQT; Sumitomo$43M-Phoenix Tailings is a U.S.-based rare earth metals production company that builds a stable, circular rare earth supply chain from tailings to finished metals and alloys, operating domestic refining facilities in Massachusetts and New Hampshire with proprietary technology for economic, safe, and emissions-free processing independent of Chinese inputs. The company produces and ships final rare earth metal products globally to customers in advanced manufacturing and technology sectors. The B-3 round added strategic partners like Traxys, Eni Next, Geodesic Alliance Fund, and Aether VC, with continued support from Envisioning Partners and MPower Partners, aimed at accelerating U.S. rare earth metals production capacity and reinforcing secure domestic supply chains critical for national security. Phoenix Tailings demonstrates traction through operational milestones like opening a cutting-edge U.S. rare earth metallization facility in October 2025 entirely independent from China and securing $1.6M in federal ARPA-E funding on December 4, 2025, for technology to extract critical minerals from wastewater, enhancing feedstock for commercial operations. The company positions itself as a top producer delivering metal to customers while advancing extraction from non-conventional sources to build resilient U.S. critical metals ecosystem.
Mar 2023Undisclosed stagePresidio Ventures (lead); Hanwha; EIC Rose Rock; IQT$18M--
Jul 2021Series AOlive Tree Capital (lead); Accomplice; Techstars$9M--

Who has invested in Phoenix Tailings?

19 investors have backed Phoenix Tailings across its funding rounds, including Presidio Ventures, MPower Partners, Envisioning Partners, IQT, Sahin Boydas and Yamaha Motor Ventures.

Lead investors include Envisioning Partners, Escape Velocity, Presidio Ventures and Olive Tree Capital.


Phoenix Tailings Investors

Investors in Phoenix Tailings by funding rounds participated
InvestorHQRoundsRoleFirst check
MPower PartnersJapanTokyo3ParticipantDec 2024
Envisioning PartnersSouth KoreaSeoul3LeadDec 2024
Presidio VenturesUnited StatesSan Jose, CA3LeadMar 2023
Sahin BoydasUnited StatesSan Francisco, CA2ParticipantDec 2025
Olive Tree CapitalUnited StatesUnited States2LeadJul 2021
Yamaha Motor VenturesUnited StatesDetroit, MI2ParticipantDec 2024
Escape VelocityUnited StatesNew York City, NY2LeadDec 2024
Builders VisionUnited StatesChicago, IL2ParticipantDec 2024
IQTUnited StatesWashington, DC2ParticipantMar 2023
Traxys S.A.LuxembourgLuxembourg1ParticipantFeb 2026
HanwhaSouth KoreaSeoul1ParticipantMar 2023
AccompliceUnited StatesBoston, MA1ParticipantJul 2021
EIC Rose RockUnited StatesTulsa, OK1ParticipantMar 2023

This data is available for Pro users. Sign up to see all 19 Phoenix Tailings investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Acquisitions by Phoenix Tailings

Phoenix Tailings has acquired 1 company to date.

Last acquisition by Phoenix Tailings was on May 6th 2026. Phoenix Tailings acquired Machinery Partner for undisclosed valuation.


Latest Acquisitions by Phoenix Tailings

Machinery Partner
Description
Machinery Partner is a technology platform matching buyers and sellers of heavy equipment across construction, agriculture, and mining industries. It provides tools for listings, valuations, inspections, and financing to accelerate deals for assets like dozers, cranes, and telehandlers. The company leverages industry expertise to offer logistics coordination and market insights, operating primarily in international markets with a focus on North America and Europe.
HQ CountryUnited States
HQ City
Boston, MA
Deal Date6 May 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Phoenix Tailings acquisitions and their M&A valuation multiples.

Start Free Trial

Phoenix Tailings Competitors

Phoenix Tailings competitors include listed companies like eVISO and Alfa Solar, and private ones like Fortera, Nanotech Energy, Green Li-ion and Binding Solutions Limited.

Public and private companies comparable to Phoenix Tailings
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ForteraUnited StatesSan Jose, CAPrivate--$355M-
Nanotech EnergyUnited StatesLos Angeles, CAPrivate--$550M-
Green Li-ionSingaporeSingaporePrivate--$187M-
Binding Solutions LimitedUnited KingdomMiddlesbroughPrivate--$176M-
eVISOItalyItalyPublicly listed$363M$12M$277M0.6x
Alfa SolarTurkeyTurkeyPublicly listed$169M$10M$256M-

Phoenix Tailings Public Comps

Phoenix Tailings is still privately-owned, but its public comps include Unico Silver, Santana Minerals, Empire Metals, Energy One, Meteoric Resources, Tubacex, Medallion Metals, Lifezone Metals, Central Asia Metals and Larvotto Resources.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Unico Silver-($17M)--(18.2x)(23.6x)
Santana Minerals-($5M)-27.5x(52.5x)1967.6x
Empire Metals-($5M)--(75.3x)(68.1x)
Energy One$49M$14M7.1x6.7x26.0x22.6x
Meteoric Resources$237K($18M)1457.2x-(18.9x)-
Tubacex$828M$81M1.1x1.2x11.7x9.9x
Medallion Metals$791K($4M)384.9x33.7x(72.1x)(195.1x)
Lifezone Metals$1M($2M)370.6x283.8x(171.9x)(25.9x)

This data is available for Pro users. Sign up to see all Phoenix Tailings competitors and their valuation data.

Start Free Trial

Common questions about Phoenix Tailings

When was Phoenix Tailings founded?Phoenix Tailings was founded in 2019.
Where is Phoenix Tailings headquartered?Phoenix Tailings is headquartered in Boston, MA, United States.
Is Phoenix Tailings publicly listed?No, Phoenix Tailings is a private, VC-backed company.
What is Phoenix Tailings' valuation?Phoenix Tailings was last valued at $360M in its Series B in February 2026.
How much funding has Phoenix Tailings raised?Phoenix Tailings has raised $133M across 6 funding rounds.
What was Phoenix Tailings' last funding round?Phoenix Tailings' last funding round was a $30M Series B in February 2026.
Who are Phoenix Tailings' investors?Phoenix Tailings' investors include MPower Partners, Envisioning Partners, Presidio Ventures, Sahin Boydas, Olive Tree Capital, Yamaha Motor Ventures, Escape Velocity, Builders Vision, IQT, Traxys S.A. and 9 others.
Which companies are comparable to Phoenix Tailings?Companies comparable to Phoenix Tailings include Fortera, Nanotech Energy, Green Li-ion, Binding Solutions Limited, eVISO and Alfa Solar.
How many companies has Phoenix Tailings acquired?Phoenix Tailings has acquired 1 company, including Machinery Partner.

See companies similar to Phoenix Tailings

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial