VISIONS Magazine (December 2025 Edition)
Presidio Ventures and Phoenix Tailings Strengthen U.S. Rare Earth Independence
Presidio Ventures, Inc., the Silicon Valley/Boston-based corporate venture capital arm of Sumitomo Corporation, is celebrating a pivotal step for the U.S. critical-minerals landscape through the expansion of its portfolio company; Phoenix Tailings, a company pioneering clean, domestic rare-earth production, recently opened one of the first U.S. rare-earth metallization facilities, which operates with zero reliance on inputs, equipment, or technology from outside the supply chain built by the United States and its allies, marking an important milestone in the company’s evolution.
“We have a long relationship with the CEO predating his co-founding of Phoenix,” Ross Leav, Senior Vice President at Presidio Ventures, Inc., said. “Of vital importance to us is Sumitomo’s ability to add value to Presidio’s strategic investment through multilateral engagement with various Sumitomo business units around the world. Whether we can assist with sourcing of feedstock, transportation of materials, procurement of equipment or engagement with end-user customers, we’re proud of Sumitomo’s ability to wield its integrated corporate strength for the mutual benefit of Presidio’s parent and portfolio.”
Leav added that Sumitomo’s mining heritage gave Presidio the ability to recognize Phoenix Tailings’ potential early.
“Thanks to Sumitomo’s mining heritage and experience, we were uniquely able to identify Phoenix’s potential early on to extract critical minerals from mining waste,” he said. “It does what so far no one else in the US today can do: it can and does produce rare-earth metals at commercial scale, shipping to customers around the world … and it can do this with zero reliance on inputs from outside the supply chain built by the United States and its allies.”
Building an Independent Supply Chain
As the new Exeter, New Hampshire plant marks a turning point for America’s ability to control its own supply of critical materials, Nick Myers, Co-Founder and CEO of Phoenix Tailings, said, “We are opening this facility at a critical point for the United States. For decades, overseas producers have dominated the global rare-earth supply chain, which places the autonomy of the United States at risk. By focusing on the challenge of metallization, our newest facility unlocks the rest of the supply chain in the United States and protects our nation’s autonomy.”
The Exeter facility begins by producing 200 tons of both light and heavy rare-earth metals each year, with room to expand to more than 1,000 tons. Myers said, “Every rare-earth mine, recycler, and magnet company needs metallization in the supply chain—but the United States has lacked reliable capacity for decades. This facility brings that capability to market, reliably supplying America and her allies.”
Phoenix Tailings uses stabilized chemistries across every stage of production. By concentrating on the conversion of oxide to metal, the company closes a long-standing gap in the supply chain and supports the growth of a rare-earth industry centered on the United States and its allies.
Aligning Sustainability and Security
Presidio Ventures’ investment aligns directly with Sumitomo’s long-term commitment to sustainability, safety, and industrial resilience, Leav indicated.
“Through this investment, Presidio is proud to contribute to the health, safety and security of the US and her allies,” he noted. “From a sustainability viewpoint – firstly, the system was designed to comply with US health and safety standards from the start. Distinct from the current state of the art, Phoenix’s unique closed-loop technology generates no hazardous emissions, recycles most of its chemical inputs and takes great pains to ensure the health and safety of system operators. Secondly, since Phoenix can extract critical minerals from mining waste -- so-called ‘tailings’-- it can help remediate the environmentally hazardous pools of mining waste which accumulate at mining sites and turn it into sellable output – that’s trash to treasure! From a security perspective, by providing a local source of critical metal production, Phoenix helps support national security from the viewpoint of our economy and our military, both of which so rely heavily on these inputs to function.”
Expanding Domestic Capability
Phoenix Tailings now operates facilities in both Exeter, New Hampshire, and Burlington, Massachusetts. Its investors include Envisioning Partners, Builders Vision, Yamaha Motor Ventures, Techstars, and Presidio Ventures. The company continues to expand capacity and drive new applications for rare-earth materials essential to clean energy, defense, and technology sectors.
Myers expressed the company’s determination: “Our statement to the world is clear: America is here and is ready to dominate the rare earth sector.”
For Sumitomo Corporation of Americas, the Presidio Ventures partnership with Phoenix Tailings demonstrates how global corporate investment and local innovation can move in lockstep to strengthen supply chains, protect the environment, and enhance national security. Together, the two companies show how sustainable technology and industrial strategy can power the next era of American manufacturing.
