Allonnia Raises More Than $20 Million to Accelerate Deployment of Critical Materials Biotechnology

BOSTON--(BUSINESS WIRE)--Allonnia, the bio-ingenuity company that develops scalable solutions to improve mineral recovery and reduce environmental impact, today announced it has raised more than $20 million in a Series A extension round. The financing was led by Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners, bringing Allonnia’s total funding to more than $100 million.

The raise comes amid rapid global growth in demand for copper, nickel, lithium, and rare earth elements, materials essential to electric vehicles, grid electrification, AI data centers, and national security systems. With ore grades declining as much as 50% over the past several decades, miners are increasingly focused on unlocking more value from existing operations using lower-impact, more efficient technologies.

Allonnia’s D-Solve™ platform is designed to help miners meet this challenge. The technology uses the Allonnia Biosolution™, a selective, recyclable solution to dissolve and remove problematic gangue minerals and deliver cleaner, higher-value concentrates. D-Solve™ is engineered as a bolt-on process within existing flowsheets, enabling miners to improve recovery and throughput while reducing tailings and chemical usage.

The new funding will accelerate the commercial rollout of D-Solve™, including the company’s first mine-site pilot. This is built on the successful scale-up results from a five-day continuous demonstration at SGS Lakefield in Ontario, showing a 40% reduction in magnesium impurities and an 18% increase in nickel grade. The company announced in August 2025 that it will deploy the first mobile D-Solve™ unit at Eagle Mine, the only active nickel mine in North America, with field operations beginning in December.

“The world cannot meet its critical mineral needs with traditional approaches alone,” said Nicole Richards, CEO of Allonnia. “D-Solve provides a new path forward by improving concentrate quality, increasing production and reducing the burden of inputs and waste. This investment accelerates our ability to transition from successful demonstrations to real world impact across active mine sites.”

Investors say Allonnia’s technology addresses one of the most pressing bottlenecks in the energy transition.

“Allonnia is developing differentiated biotechnologies to address critical challenges in mineral supply chains. We are pleased to deepen our partnership with Allonnia as the Company continues to translate its strong technical foundation into practical, scalable, and innovative solutions,” said Brett Zbar, Managing Director and Global Head of Life Sciences at General Atlantic.

"At Bison, we invest in companies that pair scientific ambition with a disciplined path to market. Allonnia exemplifies this approach through the development of the type of breakthrough technologies needed to strengthen critical mineral supply chains and reduce environmental impact,” said Tom Biegala, Founding Partner at Bison Ventures. “The team has a history of demonstrated speed, discipline, and a clear line of sight to commercial adoption building on their success with commercialization of PFAS separation and concentration solution.”

Allonnia continues to expand its selective separation portfolio across two core markets: metals and mining, including impurity removal, concentrate upgrading, and rare earth recovery; and emerging contaminants, with solutions such as SAFF®, a PFAS treatment platform.

About Allonnia

Allonnia, the bio-ingenuity company, is dedicated to extracting value where others see waste. Backed by leading investors including Bison, BHP Ventures, Viking Global Investors, and General Atlantic, Allonnia develops selective separation technologies that help customers remove contaminants, recover critical resources, and operate more efficiently. The company’s portfolio includes SAFF® for PFAS treatment, and Allonnia D-Solve™ for mineral upgrading and critical mineral recovery. Allonnia is headquartered in Boston’s Seaport District. Learn more at allonnia.com.