MineHub Enters Scrap Metals Market with Strategic Acquisition of Jules AI, Creating Comprehensive End-to-End Digital Platform for Primary and Recycled Metals

Core Insights - MineHub Technologies Inc. has signed a definitive asset purchase agreement to acquire Jules AI, enhancing its digital supply chain solutions for the commodity markets [2][5] - The acquisition positions MineHub in the growing US$1 trillion recycled materials and scrap metals market, with Jules AI's platform processing nearly 2 million metric tons of scrap materials in 2024 [5][10] - The combined platform aims to deliver integrated solutions across the metals value chain, enhancing transparency and resilience in global supply chains [4][7] Company Overview - MineHub is a leading provider of digital supply chain solutions, focusing on making raw material supply chains more efficient, resilient, and sustainable [21] - Jules AI specializes in automating commodity and trade risk management for recycled and industrial commodities traders, streamlining workflows and enhancing operational efficiency [3][20] - The acquisition will allow MineHub to support all logistics types and pricing methods, transitioning customers to AI-driven systems of execution [8][10] Market Context - The recycled metals sector, including aluminum, copper, lithium, and steel, is projected to grow at a 7.1% CAGR from US$75.5 billion in 2025 to US$149.9 billion by 2035 [10] - Recycled metals are critical for high-value industries such as electric vehicles, construction, aerospace, and electronics, contributing to decarbonization efforts [11][10] - The acquisition aligns with global shifts towards sustainable practices and regulatory adaptations in industries reliant on recycled materials [11][10] Transaction Details - The acquisition is structured with a three-year earnout based on cumulative revenue targets, with an upfront payment of US$1.9 million and a potential earnout of US$18.1 million [8][9] - MineHub shares will be issued at a deemed price of C$0.74 per share, with resale restrictions extending up to 37 months [17][8] - The transaction is expected to close within 90 days, pending regulatory approvals [9]