Fast Metals Uses Waste Streams to Extract Critical Minerals from Red Mud
Red mud, a byproduct of aluminum refining containing critical minerals like titanium and rare earth elements, has long been considered too costly to process. Fast Metals is developing an innovative method that uses another waste stream—also generated in alumina refineries—to extract valuable materials profitably. The startup recently secured $4.3 million in pre-seed funding led by New Climate Ventures with support from Azolla Ventures and Rio Tinto’s Founders Factory accelerator. The process, developed during co-founder Sumedh Gostu's doctoral studies at the Colorado School of Mines, involves six steps to separate minerals such as iron oxide (which covers operational costs) and higher-value materials like titanium dioxide and scandium oxide. Fast Metals has a commercial contract with Metalox to treat one ton of red mud per week later this year. The company aims to scale its technology further using the new funding, potentially transforming how industrial waste is managed while tapping into high-demand critical minerals.
Topics: Aluminum Red Mud Recycling Startups Sustainable Tech