*New company aims to address U.S. strategic vulnerability in critical minerals supply chain*
LAS VEGAS, Sept. 24, 2024 /PRNewswire/ -- Nexcavate, a cutting-edge technology company at the intersection of artificial intelligence and mining, today announced its official launch at MINExpo INTERNATIONAL® 2024 in Las Vegas, Nevada. The company unveiled its flagship product, PermitPulse AI, a groundbreaking platform set to transform the permitting landscape for mining and land use applications.
Nexcavate's debut at MINExpo, the world's largest mining show, comes at a crucial time when the United States faces significant challenges in securing a domestic supply of critical minerals and rare earth elements. With global demand for these resources projected to increase by up to 4,000% by 2040, Nexcavate's innovative solution aims to dramatically accelerate the permitting process while ensuring comprehensive compliance and environmental responsibility.
"We are thrilled to introduce Nexcavate to the global mining community at MINExpo 2024," said Allan Grosvenor, CEO and Co-Founder of Nexcavate. "Our mission is to unearth America's future by leveraging cutting-edge AI to solve one of the most pressing challenges in the critical minerals sector. PermitPulse AI represents a quantum leap in permitting technology, offering a solution that not only speeds up the process but also enhances accuracy and compliance."
Nexcavate's PermitPulse AI seamlessly integrates state, federal, environmental, and tribal data to ensure submissions are comprehensive and efficient. Key features include:
Will Adler, Vice President of Sales and Co-Founder, emphasized the platform's broad impact: "Launching Nexcavate at MINExpo allows us to showcase how our technology can benefit not only mining companies but also government agencies, environmental interests, and tribal communities. We're excited to demonstrate how PermitPulse AI can create a more sustainable, responsible, and efficient mining industry."
Headquartered at the University of Nevada, Reno, Nexcavate is collaborating with the Mackay School of Mines and working directly with Nevada state and federal permitting agencies. The company has already secured letters of intent from key stakeholders, including state agencies, utilities, and mining companies.
Nexcavate's leadership team brings together a unique blend of expertise:
- Allan Grosvenor, CEO and Co-Founder, is a visionary aerospace engineer and AI innovator with over 25 years of experience in solving complex engineering challenges for DARPA, the Department of Energy, and the U.S. Air Force and Space Force.
- Will Adler, VP of Sales and Co-Founder, is a government relations expert and political strategist with a strong background in Nevada's legislative landscape and experience representing diverse industries, including renewable energy and Native American affairs.
The launch of Nexcavate at MINExpo 2024 is particularly significant given Nevada's crucial role in the U.S. mining industry. As the world's fifth-largest gold producer and a state rich in critical minerals such as lithium and copper, Nevada provides an ideal backdrop for Nexcavate's debut.
As Nexcavate embarks on its growth journey, the company plans to expand its solutions to include mining operations tools and diversify into renewable energy projects and broader land use applications. The company is currently pursuing a Series A funding round, targeting a $50 million valuation to accelerate product development and market expansion.
About Nexcavate
Nexcavate is a pioneering technology company dedicated to revolutionizing the critical minerals mining industry through innovative AI solutions. By addressing key challenges in the permitting process, Nexcavate aims to strengthen America's mineral independence while promoting sustainable and responsible mining practices.
About MINExpo INTERNATIONAL® 2024
MINExpo INTERNATIONAL® 2024 is the world's largest mining event, bringing together more than 1,200 exhibitors and 40,000 attendees from around the globe. Held in Las Vegas, Nevada, from September 24-26, 2024, the expo showcases the latest technologies, equipment, and innovations shaping the future of the mining industry.
**Contact:**
Will Adler
VP of Sales, Nexcavate
will@nexcavate.com
(775) 230-0247
SOURCE Nexcavate