Mint Innovation Limited's technology transforms e-waste and lithium-ion batteries into gold, copper, palladium, lithium, nickel, and cobalt using patented, low-carbon biosorption tech. This IPO offers investors access to a scalable, ESG-aligned metals recovery business well-positioned to ride the global surge in demand for precious and critical metals.
Mint Innovation Limited
MNT
Lead Manager
Contact - Jake Grbavac
0474 484 982
jake@liquidity.com.au
Offer Price
A$0.630
per share
Offer Size
A$80,000,000
Offer Details
Issue Price (Per Share)
A$0.630
Offer Size
A$80,000,000
Shares Available
126,984,127
Mint is seeking to raise A$80M via IPO at a pre-money valuation of ~A$218M
Post-raise, Mint will be well capitalised (~A$74M net cash) to execute its near-term growth plan
Documents & Downloads
Company Overview
Mint Innovation specialises in recovering critical metals from urban waste streams using proprietary hydrometallurgy processes and chemistry.
Founded in 2016 in Auckland, Mint Innovation uses patented biosorption and smart chemistry to extract gold and other metals from e-waste. Headquartered in New Zealand with operations in Australia, the US, and expanding to the UK, they run a commercial R&D facility and also recycle lithium-ion batteries, supported by the UK government and Jaguar Land Rover.
Investment Highlights
Investment Highlights
Mint
Mint is a metals extraction technology company that recovers precious and base metals (gold, copper, palladium, lithium, nickel and cobalt) from electronic waste (e-waste) and lithium-ion batteries via a patented biosoprtion and smart chemistry technology.
R&D Facility
Mint has developed a commercial scale prototype R&D facility in Sydney, Australia which has been operational since 2023, and its first U.S Commercial facility is currently under construction in Texas, United States.
Pioneering waste metals recovery
Commercialised lower-carbon (compared to traditional mining and smelting methods), scalable metal recovery process, addressing a US$50B+ criticals metals market and growing global ewaste chlallenge
Proven and scalable model
Sydney commercial prototype facility operational since 2023; US expansion underway with $US35m+ Texas facility, and potential future rollout across Europe, India, Brazil and Canada (subject to feasibility and finance)
U.S market tailwinds
Significant funding available for U.S projects that increase domestic critical mineral supply to power U.S manufacturing and increase U.S competitiveness
Diversified technology platform
Patented e-waste solutions producing Gold, Copper, Tin, Silver and Palladium. Collaboration agreement with Jaguar Land Rover to build demonstration scale facility for Lithium-ion battery recycling technology producing Lithium, Nickel, and Cobalt, supported by UK government
Alternative solution to high carbon industries
Delivering lower-carbon metal recovery, enabling circular supply chains, and helping major OEMs achieve a circular battery supply
Focus on E-Waste
Proven Technology at Commercial Scale
Mint's fully operational R&D facility in Sydney provides validation their technology at a commercial scale.
Upcoming Milestones
- Expected deployment of advanced mobile shredder trucks
- Potential non-dilutive funding opportunities
- Construction phase 1 of the first U.S. Texas facility
- Recovery of additional metals
Use of Funds
(Including $800,000 cash on hand)
A$
%
Capital Expenditure - Texas Facility
$49,500,000.00
61.5%
Mobile Shredding Opportunity
$3,000,000.00
3.7%
R&D and LIBs
$6,900,000.00
8.6%
Working capital and costs of the offer
$21,200,000.00
26.2%
Total
$80,800,000.00
100%
Capital Expenditure - Texas Facility
$49,500,000.00
61.5%
Mobile Shredding Opportunity
$3,000,000.00
3.7%
R&D and LIBs
$6,900,000.00
8.6%
Working capital and costs of the offer
$21,200,000.00
26.2%
Total
$80,800,000.00
100%
Board & Management
Catherine Drayton
Chairperson
Catherine Drayton is an experienced director with governance roles spanning infrastructure, energy, healthcare, and technology. She was appointed Chair of Mint Innovation in 2021 and also chairs Connexa Limited. Catherine is a director of Genesis Energy and IAG New Zealand, and previously chaired the Guardians of New Zealand Superannuation and Christchurch International Airport.
Dr. Will Barker
Managing Director and CEO
Dr Will Barker is the Co-founder and CEO of Mint Innovation, a global leader in sustainable recycling technologies. An experienced cleantech entrepreneur, he was previously VP at LanzaTech (NASDAQ: LNZA), where he helped raise over US$150M and commercialise technology internationally. He also co-founded Outset Ventures, New Zealand’s largest deeptech incubator, and was formerly Chairman of KiwiNet.
David Beard
Non-Executive Director
David Beard is a General Partner at Movac, New Zealand’s leading venture capital firm, where he has led investments and served on boards across five funds since 2006. He is currently a director of Mint Innovation, NanoLayr, RespirAq and RosterLab, and has held prior board roles with Timely, Coretex and PowerbyProxi. Earlier in his career, David co-founded three software companies and worked in consulting with Deloitte.
Dr. Sean Simpson
Non-Executive Director
Dr Sean Simpson is the co-founder of LanzaTech (NASDAQ: LNZA), a global leader in carbon recycling and sustainable fuels. He led the company as CEO and later CSO, overseeing the scale-up and commercial deployment of its pioneering gas fermentation technology and the spin-out of LanzaJet for sustainable aviation fuel. Sean is a director of Ternary Kinetics, Outset and Nilo, and brings deep expertise in scaling industrial cleantech processes and building global partnerships.
Matthew Russell
Non-Executive Director
Matthew Russell is an Investment Director at Liverpool Partners, where he leads the firm’s Growth strategy with a focus on financial returns alongside social and environmental impact. He brings over 18 years’ experience in M&A, valuation, and sustainability-led investing, including more than a decade at EY in senior leadership roles. Matthew is a Non-Executive Director at Mint Innovation and Coda Carbon, supporting companies advancing the climate transition and circular economy.
Disclaimer
This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Mint Innovation. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.
Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Mint Innovation.
