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First Tellurium Has Found New Funding From Capitol Hill

June 4, 2024
x min read

One of the largest non profits in Washington, D.C. focused on accelerating the energy transition has found a new project to fund. And it’s owned by a publicly traded company in Canada.

What’s happening:

  • First Tellurium (CSE: FTEL) has landed a commitment from non profit RESOLVE to fund the development and manufacturing of their novel thermoelectric device
  • The funding will be granted to PyroDelta, which First Tellurium owns a majority ownership stake in and will accelerate securing the supply of tellurium, antimony and other critical metals which are essential to manufacturing the thermoelectric device

By the numbers:

  • RESOLVE has committed to securing funding of up to $39.5M CAD to develop and manufacture Pyrodelta’s thermoelectric device
  • First Tellurium owns a 61% equity stake in PyroDelta

Why it matters:

Going deeper:

  • The new tellurium based thermoelectric device being developed by PyroDelta has the potential to be able to provide power to solar panels and even drones
  • The funding will come from RESOLVE Enterprises, which is the startup incubator arm of RESOLVE and partners with early stage companies focused on building disruptive technologies for the energy transition
  • RESOLVE has partnered with some of the world’s most iconic companies to help them reduce their emissions and restore the environment, including Apple (NASDAQ: AAPL) and Tiffany and Co


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