E-waste gold recycler Modern Mining raises $40M in NYSE American IPO
What's the deal? Modern Mining Technology Corp. has closed a $40 million initial public offering, selling 9,411,764 common shares at $4.25 each. Its shares are expected to begin trading on the NYSE American under the ticker "MDRN" on November 13, 2026.
What's the endgame? The company uses a proprietary aqueous-based process to recover gold and other valuable metals from discarded electronics. It operates a demonstration facility in Greenville, North Carolina, and lists capital expenditures as roughly 50% of its intended use of proceeds.
Why now? The world produced a record 62 million tonnes of e-waste in 2022, with less than a quarter documented as properly recycled, according to the United Nations' Global E-waste Monitor 2024. The report valued the metals embedded in that waste at $91 billion, including $15 billion in gold.
"We see electronic waste as an above-ground resource for gold, critical metals and other valuable metals, with feedstock concentrations that can be significantly higher than traditionally mined ore," said Jeet Basi, president and chief executive officer.
The offering was hosted on Equifund.comDealroom has a profile for this one. Try Dealroom →, with Digital Offering acting as lead selling agent in the US and Research Capital CorporationDealroom has a profile for this one. Try Dealroom → acting as agent in Canada. Most shares sold in the US under a Regulation A Tier 2 offering; 517,647 sold in Canada.
What could go wrong? Modern Mining is early-stage. Its SEC filing describes a development-stage business with no meaningful commercial revenue, and flags feedstock supply, customers, and plant commissioning as key risks. The raise funds a transition toward commercial operations, not expansion of an established recycler.
The signal: E-waste recycling is drawing strategic capital. Mitsubishi MaterialsDealroom has a profile for this one. Try Dealroom → has moved into US e-waste processing, SumitomoDealroom has a profile for this one. Try Dealroom → invested in recycler GreenTek, and Cyclic Materials raised $75 million and opened a commercial-scale plant. Modern Mining's success will hinge on securing reliable inputs and proving its process at scale.
Read more: stockwatch.com
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