TRaCE is proud to announce its co-investment in Gega Elements, an Australian startup developing breakthrough refining technology for germanium and gallium, two critical minerals powering semiconductors, AI systems, electric vehicles, defence hardware, and space exploration.
Western supply chains are dangerously dependent on China for these essential minerals, creating vulnerabilities in both technological advancement and national security. Gega Elements is building the solution: scalable, sustainable refining processes that unlock Australia’s vast germanium and gallium reserves.
Advanced Refining Technology
Gega Elements’ refining approach eliminates conventional methods that rely on toxic solvents. Using advanced adsorption technology, the process reduces CO₂ emissions by around 30% while significantly lowering operating costs.
Dr Mohammad Assefi, a materials science expert with over a decade in critical minerals extraction, leads the venture alongside Oliver Nighjoy, a commercial and finance veteran. The duo previously collaborated at Novalith, advancing low-cost lithium extraction, experience they’re now leveraging to build Gega’s market dominance.
“Our technology transforms industrial residues and complex mineral ores into refined, strategic inputs for Australian advanced manufacturing,” said Dr. Mohammad Assefi, CEO of Gega Elements. “We’re strengthening Australia’s sovereign refining capability in critical minerals while advancing circular economy principles, low-carbon processing, and industrial resilience.”
Gega Elements is partnering with RareX to create Australia’s first end-to-end gallium supply chain. By combining RareX’s gallium-rich resources with Gega’s refining technology, the collaboration aims to establish a sovereign, cost-effective pathway for domestic production.
The Investment
TRaCE’s Early-Stage Seed Fund is co-investing alongside Investible, completing a larger funding round with Flying Fox Ventures, UNSW Founders and Salus. TRaCE’s investment includes a buy-back option that allows its equity to be repurchased by the co-investor, enabling TRaCE to recycle capital into future startups.
“Gega Elements is still at an early technology readiness stage, but this is exactly the kind of opportunity we want to back,” said Gabriella Nunes, Research & Commercialisation Director at TRaCE. “By investing early to help de-risk the technology, we can attract venture capital and accelerate private investment into Australia’s emerging climate technologies.”
For more information about the fund, visit https://trace.org.au/early-stage-seed-fund/.
