Ascension 🇬🇧
Equity + Innovate UK grant · £1.7M
Oxford University spinout recovering critical minerals via geothermal systems; £1m matched investment from UKI2S alongside a £670k grant.
About Ascension
Ascension utilizes geothermal energy to extract critical minerals, including heavy rare earths, from volcanic rock through a process that minimizes environmental impact and avoids large-scale mining operations. This method is designed to be rapidly deployable and cost-effective, leveraging geothermal heat while generating minimal waste.
Ascension is a UK-based company founded in 2024, now around 12 people. It has raised $2.2M in disclosed funding.
Company facts from Harmonic and public filings; team backgrounds from public profiles. Refreshed weekly.
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Equity + Innovate UK grant · £1.7M · Apr 2026
- Oxford Science Enterprises — Oxford Science Enterprises a university-partnered venture firm, investing in early-stage life science, AI & software, and deep tech. · cheques £5M – £30M
- UK Innovation & Science Seed Fund (UKI2S) — Evergreen, government-backed pre-seed+ fund managed by Future Planet Capital. · cheques up to £1.5M