EDMONTON, AB, Dec. 14, 2022 /PRNewswire/ -- Copperstone Technologies, an Alberta-based engineering firm specializing in the design, production and operation of HELIX amphibious robots for hazardous site inspection, announced today that it has secured $3.5 million in growth capital from WindSail Capital Group, a Boston-based investment firm focused on energy innovation and sustainability. The investment unlocked support from the Alberta Jobs & Growth Program and the Mining Innovation Commercialization Accelerator for $2.3 million in additional capital.
With the proceeds of the raise, Copperstone intends to invest in expanded production to reach new customers and facilitate a greater volume of equipment sales. The Company will also invest in the development of new models capable of tackling more demanding and specialized projects. The raise comes on the heels of increased demand for the robots arising from risks posed by tailings facilities in the mining industry and the wider need for high performance, automated solutions to monitor and analyze difficult-to-access areas.
"We are driven by the impact that our robots can have on human safety and for the good of our planet by reaching a net-zero world. Our partnership with WindSail Capital is an investment in a better future and we're so excited to be building a common vision with them," says Craig Milne, CEO of Copperstone Technologies.
"We are excited to partner with Craig and the team at Copperstone to transform the way in which industrial customers utilize robotics and technology to drive changes in safety, sustainability and efficiency," said Matthew O'Rourke, Managing Director at WindSail Capital Group. "Copperstone is an innovative technology and engineering platform using a unique set of solutions to solve complex problems in heavy industry and we believe they are poised for significant growth."
Copperstone has primarily operated in North America through its Robotics-as-a-Service ("RaaS") segment to perform autonomous and unmanned monitoring and sampling projects critical to the mitigation of environmental and safety risks posed by mine waste tailings facilities. The Company's HELIX robots address customers' urgent and rapidly growing needs in tailings management without placing workers at risk.
About Copperstone: Founded in 2014, Copperstone Technologies is an engineering firm specializing in design, production and operation of HELIX, an amphibious robot developed for environmental monitoring. Inspired by space robotics and advanced remote sensing, Copperstone envisions developing innovative tools and exploratory methods to earth's most challenging environments. HELIX is used for site investigation services which may include measuring geotechnical parameters of mine waste tailings ponds, collecting samples, data and conducting bathymetric surveys, among other use cases. For more information, please visit: https://copperstonetech.com/.
About WindSail Capital Group: WindSail Capital Group is a Boston-based investment firm that provides growth capital to early-stage commercial businesses advancing energy innovation and sustainability. WindSail's unique approach offers companies creative capital solutions that meet their specific needs while facilitating growth and minimizing dilution. For more information, please visit https://www.windsailcapital.com.
SOURCE WindSail Capital Group; Copperstone Technologies Ltd.