Phoenix Tailings

Rare earth minerals are the building blocks for solar panels, wind turbines, electric vehicle batteries, powerlines, and even have applications in hydro, geothermal, nuclear, and hydrogen power. They are powering tomorrow’s economy today, but the way these materials are traditionally mined and refined comes at an enormous cost and potentially threaten America’s economic and geopolitical security.

At Builders Vision, we believe that the US shouldn’t have to choose between industrial competitiveness and environmental responsibility. That’s why we’re proud to back Phoenix Tailings, a trailblazing company that is redefining what sustainable critical mineral production can look like and hopes to be the first and only vertically integrated critical mineral producer in the US.

Copper, nickel, rare earths—these are no longer niche transition concerns. McKinsey projects global rare earth demand should more than double by 2035, driven by both electrification and specifically EV motors and wind turbines. This demand surge will strain global supply chains and reshape industrial policy at a rapid pace. For investors, this isn’t just about climate—it’s about inflation risk, resilience, and national competitiveness. Understanding raw materials of all kinds is now essential for serious capital allocators

Most of today’s rare earth metals come from large-scale open-pit mining operations that rely on acid leaching and other chemically intensive processes. These methods generate vast quantities of toxic waste—up to 2,000 tons of it for every ton of rare earths produced in places like Baotou, China. This waste can include radioactive elements like thorium and uranium, contaminating land, water, and air, and harming local communities and ecosystems. Compounding the problem, over 90% of global rare earth metal production occurs in China and Myanmar, leaving America dependent on other countries’ materials, creating insecurity and vulnerability.

Phoenix Tailings has developed a proprietary emission-less and zero-waste process for recovering and refining rare earth elements that mitigates the environmental degradation that defines conventional metals processing. Through our partnership, Phoenix Tailings will build a new production plant in the U.S. in Exeter, NH. This new facility will significantly expand domestic refining capacity for rare earth elements, not only supporting clean energy deployment but also serve as a beacon for what sustainable industrial innovation can look like. The plant will eventually have a total capacity of 500 tons per year of rare earth metal output, equivalent to the entire annual demand of the U.S. defense industrial base; initial production later this summer will already be up to a rate of 200 tons per year.

“Our decarbonization investment thesis centers on unlocking innovations and accelerating the development of new, highly valuable industries,” said Noelle Laing, CIO of Builders Vision. “Phoenix Tailings exemplifies this approach. Their breakthrough technology enables the production of critical materials in the U.S., under strong labor and environmental safeguards – strengthening the resilience of a clean, secure energy supply chain and advancing a more responsible, prosperous industrial future.”

“We are honored to have Builders Vision as a partner. Their support enables us to rapidly scale our rare earth metals processing capabilities, delivering the materials essential to nearly every sector of our society while avoiding the environmental and safety hazards of traditional methods,” said Nick Myers, CEO, Phoenix Tailings.

Phoenix Tailings represents a strategic investment in resilient supply chains as they operate the only active rare earth metal refinery in the United States. As geopolitical instability continues to spotlight the risks of global supply dependence, Phoenix Tailings offers a homegrown solution that aligns with U.S. interests and values. Phoenix Tailings promises to transform one of the dirtiest sectors of the global economy into a driver of the clean energy future.