Rail-Veyor® Moves to the Fast Track with New Investor RCF Jolimont Mining Innovation Fund II L.P.
8 MARCH 2021 – Canadian company Rail-Veyor Technologies Global Inc. (Rail-Veyor) is pleased to announce it has agreed to accept an offer from RCF Jolimont Mining Innovation Fund II L.P. (RCF Jolimont II) for a significant stake in Rail-Veyor.
RCF Jolimont II, a global investor in mining innovation, adds Rail-Veyor to its portfolio of high growth Mining Equipment, Technology and Services (METS) companies which are transforming the industry. Rail-Veyor was first brought to the attention of RCF Jolimont II during the 2019 Mining Cleantech Challenge which Rail-Veyor subsequently won in 2020.
RCF Jolimont II is part of Resource Capital Funds a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions.
The Rail-Veyor TrulyAutonomous™ haulage system is a low-cost, fully autonomous, and electrically powered materials handling system operational in mines around the world. With zero diesel emissions and significantly reduced OPEX costs over traditional methods – 90% lower than diesel truck haulage – the system will also eliminate the potentially fatal risk factors of vehicle-human accidents and belt fires.
Charles Gillies, a Director at RCF Jolimont Innovation, part of Resource Capital Funds, stated, “Rail-Veyor is at the nexus of three major trends in mining: the rapid shift to electrification, automation, and a growing emphasis on environmental sustainability. The Rail-Veyor system is a cleaner choice compared to diesel for both the planet and the workforce with no heat, dust, or dangerous particulates generated by the system.”
Rail-Veyor is successfully operating at three mines with a fourth becoming operational soon when the Kazzinc Dolinny Mine implementation in Kazakhstan is completed.
Rail-Veyor Executive Chairman Jim Fisk added, “We welcome the investment from RCF Jolimont which will enable us to fast track the rollout of the Rail-Veyor system to the many other sites with which we are close to signing deals.”
RCF Jolimont II’s Charles Gillies and Lex McArthur will join the Rail-Veyor board of directors. Clairfield International (Thierry Pepin – Canada) acted as exclusive financial advisor to Rail-Veyor while the Chicago-based law firm McLachlan, Rissman & Doll provided legal advisory services to the Company.
About RCF Jolimont Mining Innovation
RCF Jolimont Innovation invests in high growth mining equipment, technology and services (METS) companies, assisting these companies to be globally successful. The METS sector presents investment opportunities, magnified during periods of volatile commodity prices and/or high operating costs. Mining companies rely increasingly on METS companies to provide incremental as well as step-change solutions to improve productivity and lower costs.
RCF Jolimont Innovation is part of Resource Capital Funds, (“RCF”), a group of commonly managed private equity funds, established in 1998 with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 197 mining companies, with projects located in 51 countries and across 32 commodities. Further information about RCF can be found on its website www.resourcecapitalfunds.com.
About Clairfield International
Clairfield International www.clairfield.com provides advisory services on middle-market transactions for large companies, private investors and private equity, public sector clients, and family businesses. Headquartered in Europe with locations in every major region worldwide, Clairfield offers clients access to local corporate businesses, investors, and key decision makers, combined with a deep understanding of local regulations and cultures. Clairfield International ranks as one of the top independent M&A advisors in league tables worldwide.
Charles Gillies, Director, RCF Jolimont Innovation [email protected]
Jim Fisk, Executive Chairman, Rail-Veyor Technologies Global Inc. [email protected]
Lisa Youngblood, Executive Director, Marketing & Communications, Rail-Veyor Technologies Global Inc. [email protected]