Israeli fund NetZero launches $2 million competition to tackle global critical minerals shortage

Israeli investment fund NetZero Tech Ventures has launched an international competition aimed at developing new technologies for the extraction, processing and recycling of critical minerals, as growing demand for materials used in electric vehicles, renewable energy and electronics puts pressure on global supply chains.The initiative, called Labs4Minerals, is being organized in collaboration with Chevron Technology Ventures, German chemical manufacturer Evonik and Tenova Advanced Technologies. It will offer early-stage entrepreneurs and academic researchers access to industry experts, potential commercial partners and opportunities to secure funding of up to $2 million. NetZero Tech Ventures team (Photo: Eyal Toueg)The competition comes amid concerns about the availability of critical minerals, including lithium and nickel, which are essential components in batteries, electronics and other advanced technologies. Demand for some of these materials is projected to increase significantly in the coming years, raising concerns about supply constraints, rising costs and dependence on a limited number of suppliers.According to NetZero, demand for minerals such as lithium and nickel could increase four- to sixfold by 2030, although the company did not identify the source or baseline for that projection. Supply disruptions could affect industries ranging from electric vehicle manufacturing and renewable energy to semiconductor production, telecommunications and advanced industrial equipment.From laboratory research to commercial productionLabs4Minerals is designed to identify technologies that could address challenges across the critical minerals supply chain, including exploration, mining, separation, refining, processing, recycling and the development of substitutes for scarce materials. Selected participants will gain access to industry specialists who can help assess their technologies and explore potential commercial applications.The initiative also includes a competition for funding of up to $2 million, although NetZero has not specified how many participants may receive investment or the terms under which the funding would be provided.Academic researchers also will be eligible for a cash prize from Chevron Technology Ventures. "We offer entrepreneurs and researchers a direct path to commercialization, supported by the world's leading experts and investors," said Shmuel Kedmi, CEO of NetZero Tech Ventures. He said the initiative aims to improve the prospects of technologies addressing shortages of critical minerals and rare metals.Chris Dillon, general manager of Chevron Technology Ventures, said the growing importance of critical minerals for energy systems and industrial infrastructure made supply chain resilience a priority. "Secure, resilient, and sustainable critical mineral supply chains will be essential to meeting growing energy demand and enabling future industrial growth," Dillon said.Ariel Dayan, Evonik's Israel manager and a member of the competition's judging panel, said the company is interested in technologies that could improve resource efficiency, increase recycling and reduce the environmental impact of mineral processing.The competition also involves Tel Aviv Global, Planetech, Deloitte Catalyst and Science Abroad.Building on a previous Israeli startupThe new initiative follows a similar competition organized by NetZero last year, which was won by technology developed by Professor Youri Gendel of the Technion for separating critical metals. That research formed the basis for Timna Elements, a startup that has since raised more than $2 million from NetZero Tech Ventures, the Israel Innovation Authority and private investors.Founded in 2021, NetZero invests in early-stage companies developing technologies for the energy, materials and climate sectors. Unlike traditional venture capital funds that primarily invest in existing startups, NetZero also works with researchers to establish companies around technologies emerging from academic laboratories.Applications for Labs4Minerals are open to entrepreneurs and researchers developing early-stage technologies through October 25, 2026.