- KoBold Metals, backed by
Jeff Bezos andBill Gates , will hunt for metals inGreenland . - The mineral company will spend $15 million looking for materials with
mining firm BlueJay. - Bill Gates' climate and technology fund is KoBold Metals' principal investor.
A mineral company backed by
KoBold Metals will spend $15 million to search for nickel, copper, cobalt, and platinum as part of BlueJay's Disko-Nuussuaq project in Greenland, the world's biggest island, BlueJay said in a $4.
In return, KoBold will have a 51% stake in the project, London-based Bluejay said.
KoBold, which is privately owned, uses artificial intelligence, machines, and computing to look for the raw materials needed for electric vehicles, according to its $4.
The mineral company's principal investor is Breakthrough Energy Ventures, a climate and technology fund led by Microsoft co-founder $4, the statement said.
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Amazon founder $4, Bloomberg founder $4, and Bridgewater Associates founder $4 are also investors, according to the statement.
Other investors in KoBold include Silicon Valley VC fund, Andreessen Horowitz, and Norwegian state-owned energy company Equinor.
KoBold CEO Kurt House said in the statement: "The Disko region has seen the rare convergence of events in earth's history that could have resulted in forming a world-class battery metal deposit."
"Disko is a project with great potential for the discovery of globally significant deposits of battery metals," Blueyjay's CEO Bo Møller Stensgaard added.