GeologicAI raises $20M from Bill Gates venture fund
By DE Staff
Automation Energy Machine BuildingCalgary-based firm looks to create fleet of AI-powered robot geologists for resource exploration.
Paired with GeologicAI’s robotic scanners, the company’s core table software helps geologist assess rock quality, predict assay values and identify sample core features.
(Image credit: GeologicAI)
Calgary’s GeologicAI announced it has raised a $20 million Series A funding investment from Bill Gates’ Breakthrough Energy Ventures (BEV). According to the company, the financial backing will help GeologicAI further develop and scale its fleet of AI-powered robot geologists.
“GeologicAI’s multi-sensor core scanning robots and AI-assisted analysis are a powerful combination, and we believe their technology will significantly accelerate key mineral discovery and recovery.”
GeologicAI’s core scanning robot employs AI, combined with advanced machine vision imaging, X-ray fluorescence (XRF) and hyperspectral data, to analyze rock samples. The company’s digital rock viewing and analysis software gives geologists access to high-resolution, AI-enhanced digital rock twins. According to the company, this automated process provides faster and more accurate results than traditional core logging methods.
In particular, the company sees its core scanning robots employed to find new sources of key minerals required for a low carbon economy.
“Without sufficient quantities of key minerals like copper, nickel, cobalt and lithium, the transition to a clean energy economy simply cannot happen,” said Carmichael Roberts of Breakthrough Energy Ventures. “GeologicAI’s multi-sensor core scanning robots and AI-assisted analysis are a powerful combination, and we believe their technology will significantly accelerate key mineral discovery and recovery.”
www.geologicai.com
www.breakthroughenergy.org
