BMW i Ventures invested in Phoenix Tailings, a metals production company dedicated to creating a zero-waste, zero-emission future. The Series B financing, which was led by Envisioning Partners and included additional participation from Yamaha Motor Ventures and Escape Velocity, will enable Phoenix Tailings to scale its rare earth processing operations to produce ~200 tons of rare earth metals annually.

Phoenix Tailings was founded in Cambridge, Massachusetts, by four co-founders determined to transform how critical metals are produced. With the backing of the United States Departments of Energy and Defense, as well as the State of Massachusetts, the company has secured initial offtake agreements, validated the technology, and assembled a team to bring this vision to fruition.

Phoenix Tailings is focused on refining rare earth metals into the final products essential for magnets used in various components. Through its process, Phoenix Tailings extracts rare earth metals from both traditional ores, and as well as non-traditional feedstocks such as recycled materials, and mining waste (tailings) without producing toxic byproducts.

This approach allows the company to be cost-competitive with traditional processes currently dominated by China and Russia. By delivering a sustainable and secure supply of rare earth metals, Phoenix Tailings can play a vital role in strengthening the US supply chain for defense manufacturing and meeting the growing demand for these essential materials in commercial industries.