TVG’s senior managing director, Rick Prostko, said Wednesday that Ontario Teachers were proud to support Fleet Space’s work in accelerating the energy transition.
“Current methods fail to meet the growing demand for critical minerals,” he said in a statement. “Fleet Space’s advanced 3-D subsurface imaging and AI tools transform the industry sustainably and help achieve global net-zero targets.”
Private firm Fleet Space uses satellite technology, AI and real-time 3-D imaging to speed up critical mineral searches. The funds raised increased the outfit’s valuation to $525 million.
Ontario Teachers had C$255.8 billion in net assets as of June 30. It holds diverse assets, including a 2019 investment in Elon Musk’s reusable rocket firm, SpaceX. Past mining-related investments include Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK).
Scaling innovation
Fleet Space CFO, Federico Tata Nardini,…
