NetZero Launches Critical Minerals Challenge
13 October, 2026
Backed by Chevron, Evonik and Tenova, the competition offers potential investment of up to $2 million, supporting Israel’s growing push into technologies for strategic raw materials
Israeli investment firm NetZero Tech Ventures has launched Labs4Minerals, an international competition for early-stage startups and academic researchers developing technologies for critical minerals and metals. Its corporate partners include Chevron Technology Ventures, German chemicals manufacturer Evonik and Tenova Advanced Technologies, which specializes in technologies for the mining and metals industries.
The competition aims to advance technologies across the critical minerals value chain, from exploration and mining through separation, refining and metals processing to recycling, alternative materials and solutions that reduce reliance on rare minerals. Eligible technologies include AI and advanced sensors for mineral exploration, new methods for recovering metals from industrial waste, and solutions that improve extraction and processing efficiency.
The competition has two tracks: one for academic researchers and another for entrepreneurs and early-stage companies. It targets technologies ranging from a well-developed concept to proof of concept in a laboratory or relevant operating environment. Existing companies are eligible if they have raised no more than $250,000 in equity funding, excluding grants.
Participants will gain access to experts and executives at the corporate partners, who will help assess technical and commercial viability and identify opportunities for collaboration. Each track will select three finalists and one winner. Winners may be considered for investment of up to $2 million through the Israel Innovation Authority’s incubator program, subject to its eligibility requirements and the establishment of R&D operations in Israel. The academic-track winner will also be eligible for a cash prize of up to $10,000.
Applications are open until October 25, 2026. Finalists will be announced in early November, with the final event expected to take place in November or December, bringing together corporate representatives, experts and investors.
Turning Academic Research into Technology Companies
Founded in 2021, NetZero Tech Ventures invests in energy, materials and deep tech. It follows a venture-building model, helping establish companies around early-stage research and technologies by combining funding, technical guidance and access to industrial partners. Its investors and partners include TotalEnergies, Delek US, Eren Group and the Israel Innovation Authority.
Its portfolio includes Chiral Energies and Funpressor, which develop energy and cooling solutions for AI infrastructure and the semiconductor industry, alongside materials companies such as Timna Elements. NetZero also operates development laboratories on the Bar-Ilan University campus, where portfolio companies can develop and test prototypes.
Last year, NetZero held a similar competition, won by a technology for separating critical metals developed by Technion Professor Yuri Gendel. The technology became the foundation for Timna Elements, which has since raised more than $2 million from NetZero, the Israel Innovation Authority and private investors.
Israel Enters the Critical Minerals Race
Critical minerals, including lithium, nickel, cobalt and rare earth elements, have become strategic resources for the battery, electric vehicle, electronics, semiconductor and defense industries. Rising demand, coupled with the geographic concentration of mining and processing capacity, is heightening concerns over supply chain disruptions and dependence on a small number of countries.
NetZero’s competition is part of a broader Israeli effort to develop technologies in the field. In March, the Israel Innovation Authority and the Ministry of Energy launched the “Tnufa Challenge for Critical Minerals,” designed to encourage the creation of Israeli technology companies focused on exploration, extraction, processing and recycling. Five winners were announced in August and will share grants totaling NIS 1.8 million. First place went to Drillzy, which is developing a sensor system for analyzing geological data in real time during drilling.
These initiatives seek to position Israel as a technology provider in the global critical minerals supply chain. The focus is on developing solutions that make extraction, processing and recycling more efficient, rather than mining domestic mineral deposits.
Photo credit: Eyal Toueg
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