VANCOUVER, British Columbia--(BUSINESS WIRE)--Apr 13, 2026--
As global demand for critical minerals accelerates and supply constraints intensify, pH7 Technologies Inc. today announced the oversubscribed final closing of its Series B financing round. The company raised approximately USD ~$32 million in equity, with new backing from Asahi Kasei and the Circular Innovation Fund (CIF), alongside previously announced investors, led by Fine Structure Ventures, with participation from BHP Ventures and continued support from existing investors. The financing comes amid a widening structural gap between demand for metals like copper and the industry’s ability to economically extract them from existing resources.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260413706462/en/
In addition, pH7 has secured venture debt financing from RBCx, bringing the total financing package, including Series B equity and venture debt, to approximately CAD $55 million (USD ~$39 million).
Proceeds from the financing will accelerate the commercialization and global deployment of pH7’s extraction technology for the mining sector, beginning with copper, as governments intensify efforts to secure domestic and allied supply chains. The company’s technology enables operators to economically recover metals from low-grade ores, tailings, and other previously uneconomic feedstocks, unlocking new sources of copper, nickel, gold and platinum group metals (PGMs).
“The constraint isn’t discovery, it’s how we process what we’ve already found,” said Mohammad Doostmohammadi, CEO of pH7 Technologies. “This oversubscribed financing validates that unlocking value from existing resources is now an economic and strategic priority. We are accelerating from pilot to commercial deployment globally, enabling producers to recover critical minerals from materials that were previously uneconomic—while enabling regionalized, on-site metal processing closer to the source of production.”
“pH7 is applying electrochemistry and process engineering in a compelling way to help secure a more resilient supply of critical minerals by recovering value from resources that have traditionally been uneconomic to process,” said Takashi Morishita, Managing Director at Asahi Kasei CVC. “We are pleased to support pH7 as it moves toward larger-scale deployment, and we look forward to sharing our longstanding expertise in electrolysis as the company enters its next phase of growth.”
“The Circular Innovation Fund is proud to support pH7 Technologies, a company addressing a critical challenge at the heart of the energy transition: the growing gap between surging demand for critical metals and increasingly constrained global supply. As industries accelerate decarbonization, we believe scalable technologies that can recover high-value metals from existing waste streams will play a pivotal role in securing resilient and sustainable supply chains,” said Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital.
pH7’s proprietary extraction method, a closed-loop organo-electrochemical process, replaces traditional high-waste methods with a scalable system designed to improve project economics while minimizing environmental impact. The technology integrates into existing on-site equipment and flowsheets, reducing complexity while improving recovery. The process also lowers energy consumption and wastewater generation compared to industry norms.
The company operates a commercial facility in Vancouver extracting platinum group metals from spent catalysts and is advancing its mining-sector applications toward global deployment.
About Asahi Kasei
Asahi Kasei is a diversified global company that contributes to life and living for people around the world. Since its foundation in 1922, with businesses in ammonia and cellulose fiber, Asahi Kasei has consistently grown through proactive portfolio transformation to meet the evolving needs of every age. With 50,000 employees worldwide, the company contributes to sustainability by providing solutions to the world’s challenges across its three business sectors: Healthcare, Homes, and Material. For more information, visit https://www.asahi-kasei.com/.
About Asahi Kasei Corporate Venture Capital
Asahi Kasei Corporate Venture Capital has invested strategically in innovative startups over 15+ years, from seed to later stages. In addition to investment side, Asahi Kasei is committed to providing strategic value and support to our portfolio companies. For more information, visit www.asahikaseiventures.com.
About Circular Innovation Fund (CIF)
The Circular Innovation Fund (“CIF”) is a global venture capital fund focused solely on circular innovation. It is a joint venture between leading cleantech capital managers— Montreal-based Cycle Capital and Paris-based Demea. The fund invests in growth-stage companies from North America and Europe developing breakthrough new materials, circular packaging, recycling and waste innovations, logistics, as well as eco-efficient processes & design, and circular business models. For more information, visit www.circularinnovationfund.com.
About pH7 Technologies
pH7 Technologies is a Canadian company developing next-generation critical-mineral extraction technologies for both primary and secondary resources. Through its proprietary closed-loop organo-electrochemical process, pH7 enables mining and recycling operators to economically recover metals from low-grade ores, tailings, and complex feedstocks that have historically been uneconomic or technically challenging to process. The company operates a commercial PGM extraction facility in Vancouver and is rapidly scaling its mining-sector applications, beginning with copper.
pH7 Technologies Commercial Processing Operation
ABOARD THE PAPAL PLANE (AP) — U.S.-born Pope Leo XIV pushed back Monday on President Donald Trump’s broadside against him over the U.S.-Israel war in Iran, telling reporters that the Vatican’s appeals for peace and reconciliation are rooted in the Gospel, and that he doesn’t fear the Trump administration.
“To put my message on the same plane as what the president has attempted to do here, I think is not understanding what the message of the Gospel is,” Leo told The Associated Press aboard the papal plane en route to Algeria. “And I’m sorry to hear that but I will continue on what I believe is the mission of the church in the world today.”
History’s first U.S.-born pope stressed that he was not making a direct attack against Trump or anyone else with his general appeal for peace and criticisms of the “delusion of omnipotence” that is fueling the Iran war and other conflicts around the world.
“I will not enter into debate. The things that I say are certainly not meant as attacks on anyone. The message of the Gospel is very clear: ‘Blessed are the peacemakers,’” Leo said.
“I will not shy away from announcing the message of the Gospel and inviting all people to look for ways of building bridges of peace and reconciliation, and looking for ways to avoid war any time that’s possible.”
Speaking to other reporters, he added: “I’m not afraid of the Trump administration or of speaking out loudly about the message of the Gospel, which is what the Church works for.''
“We are not politicians. We do not look at foreign policy from the same perspective that he may have,'' the pope said, adding, ”I will continue to speak out strongly against war, seeking to promote peace, promoting dialogue and multilateralism among states to find solutions to problems.
"Too many people are suffering today, too many innocent people have been killed, and I believe someone must stand up and say that there is a better way,'' he said.
Trump delivered an extraordinary broadside against Leo on Sunday night, saying he didn't think the U.S.-born global leader of the Catholic Church is “doing a very good job” and that “he's a very liberal person," while also suggesting the pontiff should “stop catering to the Radical Left.”
Flying back to Washington from Florida, Trump used a lengthy social media post to sharply criticize Leo, then kept it up after deplaning, in comments on the tarmac to reporters.
“I’m not a fan of Pope Leo,” he said.
Trump's comments came after Leo suggested over the weekend that a “delusion of omnipotence” is fueling the U.S.-Israel war in Iran. While it’s not unusual for popes and presidents to be at cross purposes, it’s exceedingly rare for the pope to directly criticize a U.S. leader — and Trump’s stinging response is equally uncommon, if not more so.
“Pope Leo is WEAK on Crime, and terrible for Foreign Policy,” the president wrote in his post, adding, “I don’t want a Pope who thinks it’s OK for Iran to have a Nuclear Weapon."
Italian politicians across the spectrum showed their solidarity with Leo. Premier Giorgia Meloni sent a message of support for his peace mission while the leader of the main opposition party, Elly Schlein, was more direct, calling Trump’s attacks “extremely serious.”
Trump repeated that sentiment in comments to reporters, saying, “We don’t like a pope who says it’s OK to have a nuclear weapon.”
Later, Trump posted a picture suggesting he had saint-like powers akin to those of Jesus Christ. Wearing a biblical-style robe, Trump is seen laying hands on a bedridden man as light emanates from his fingers, while a soldier, a nurse, a praying woman and a bearded man in a baseball cap all look on admiringly. The sky above is filled with eagles, an American flag and vaporous images.
All of that came after Leo presided over an evening prayer service in St. Peter’s Basilica on Saturday, the same day the United States and Iran began face-to-face negotiations in Pakistan during a fragile ceasefire, with Vice President JD Vance leading the U.S. delegation. Vance is Catholic and recently released a book about his faith.
During his evening prayer service, the pope didn’t mention the United States or Trump by name, but his tone and message appeared directed at Trump and U.S. officials, who have boasted of U.S. military superiority and justified the war in religious terms.
Leo, who is on an 11-day trip to Africa starting Monday — has previously said that God “does not listen to the prayers of those who wage war, but rejects them.” He's also referenced an Old Testament passage from Isaiah, saying that “even though you make many prayers, I will not listen — your hands are full of blood.”
Before the ceasefire, when Trump warned of mass strikes against Iranian power plants and other infrastructure and that “an entire civilization will die tonight,” Leo described such sentiments as “truly unacceptable.”
In his social media post on Sunday night, however, Trump went far beyond the war in Iran in criticizing Leo.
The president wrote, “I don’t want a Pope who thinks it’s terrible that America attacked Venezuela, a Country that was sending massive amounts of Drugs into the United States.” That was a reference to the Trump administration having ousted Venezuelan President Nicolás Maduro in January.
“I don’t want a Pope who criticizes the President of the United States because I’m doing exactly what I was elected, IN A LANDSLIDE, to do,” Trump added, referencing his 2024 election victory.
He also suggested in the post that Leo only got his position “because he was an American, and they thought that would be the best way to deal with President Donald J. Trump.”
“If I wasn’t in the White House, Leo wouldn’t be in the Vatican,” Trump wrote, adding, “Leo should get his act together as Pope, use Common Sense, stop catering to the Radical Left, and focus on being a Great Pope, not a Politician. It’s hurting him very badly and, more importantly, it’s hurting the Catholic Church!”
In his subsequent comments to reporters, Trump remained highly critical, saying of Leo, “I don’t think he’s doing a very good job. He likes crime I guess” and adding, “He’s a very liberal person.”
Archbishop Paul S. Coakley, president of the U.S. Conference of Catholic Bishops, issued a statement saying he was “disheartened” by Trump's comments.
“Pope Leo is not his rival; nor is the Pope a politician. He is the Vicar of Christ who speaks from the truth of the Gospel and for the care of souls,” Coakley said.
The Italian Bishops' Conference expressed regret over Trump's words, and underlined that the pope "is not a political counterpart, but the successor of Peter, called to serve the Gospel, truth and peace.''
In the 2024 election, Trump won 55% of Catholic voters, according to AP VoteCast, an extensive survey of the electorate. But Trump's administration also has close ties to conservative evangelical Protestant leaders and has claimed heavenly endorsement for the war on Iran.
Defense Secretary Pete Hegseth urged Americans to pray for victory “in the name of Jesus Christ.” And, when Trump was asked whether he thought God approved of the war, he said, “I do, because God is good — because God is good and God wants to see people taken care of.”
——
Winfield reported from aboard the papal plane.
Pope Leo XIV speaks to journalists aboard his flight bound for Algiers’ Houari Boumédiène International Airport on Monday, April 13, 2026, at the start of an 11-day apostolic journey to Africa. (Alberto Pizzoli/Pool Photo via AP)
President Donald Trump speaks with reporters at Joint Base Andrews, Md., Sunday, April 12, 2026, after he returned from Miami. (AP Photo/Julia Demaree Nikhinson)
Pope Leo XIV delivers the Regina Coeli prayer in St. Peter's Square at the Vatican, Sunday, April 12, 2026. (AP Photo/Gregorio Borgia)
President Donald Trump speaks with reporters at Joint Base Andrews, Md., Sunday, April 12, 2026, after he returned from Miami. (AP Photo/Julia Demaree Nikhinson)
