Fleet Space and Rio Tinto partner to explore lithium in Argentina
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The news: Startup Fleet Space Technologies has announced a collaboration with Rio Tinto to deploy its ExoSphere exploration technology at the mining giant's Rincon Lithium Project in Argentina.
The numbers: The technology will be used to develop 3D subsurface maps across 100 square kilometres of the project's salt flat and nearby subvolcanic structures.
Fleet Space Technologies recently completed a Series C funding round of $50 million, doubling its company valuation to $350 million. The company now employs more than 130 people across operations in Australia, the US, Canada, Chile, and Luxembourg.
The context: The collaboration aims to enhance exploration capabilities at the Rincon Lithium Project, which is being developed as a source of battery-grade lithium carbonate for the global energy transition.
Fleet Space's ExoSphere technology uses satellite connectivity, 3D multiphysics, and artificial intelligence to provide real-time subsurface mapping up to 5km in depth.
What they said: "Rio Tinto and Fleet Space share a commitment to pioneering breakthrough technologies to make net-zero a reality," Fleet Space co-founder and chief executive Flavia Tata Nardini said.
"We are proud to deploy ExoSphere's real-time multiphysics capabilities in support of Rio Tinto's data-driven exploration for energy transition minerals."
The source: Fleet Space press release
