BHP Invests in, Collaborates With Friedland's Pulsed-Power Company, Affiliate

By Rhiannon Hoyle

BHP Group Ltd., the world's biggest miner by market value, has invested in and entered collaboration agreements with mining tycoon Robert Friedland's I-Pulse Inc. and a venture that company has with Bill Gates-backed Breakthrough Energy Ventures, called I-ROX.

The agreements will give BHP access to I-Pulse's pulsed-power technology for the crushing and grinding of mineral ores and allow it to collaborate on developing applications for the technology, I-Pulse and I-ROX said in a statement on Monday. The value of the equity investments in I-Pulse and I-ROX wasn't disclosed, but BHP will join I-Pulse and BEV Europe as shareholders of I-ROX, the entities said.

I-Pulse and BEV Europe this year established I-ROX seeking to show that short, high-intensity bursts of energy could be used to efficiently shatter rocks and thereby potentially reduce the mining industry's greenhouse gas emissions.

"The collaboration with I-Pulse and I-ROX will contribute to our growing portfolio of options with potential to both improve the competitiveness of and help decarbonize our current business, and also to unlock new growth opportunities beyond those available today," said BHP Chief Executive Mike Henry.

Mr. Friedland said BHP's investment and collaboration "offer a meaningful step forward in the development and commercialization of I-Pulse technologies for the mining industry."

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

12-12-22 0244ET