UNEXMIN NewCO / UNEXMIN GeoRobotics

Preliminary discussions on the exploitation of results, including setting up a joint company, were held even before the project started, already during its preparation, as it is can be found in the relevant chapters of the UNEXMIN Grant and Consortium Agreements (dated 2015). This initial discussion was followed up during a two-day dedicated workshop held in La Palma in October 2017. Preparations started to establish the company well before the end of the project. As a result, UNEXMIN GeoRobotics Ltd, “NewCo”, was founded in December 2018 by consortium partners La Palma Research Centre and Geo-Montan supported by the entire Consortium (full Consensus). The main idea behind setting up the company in advance – well before the end of the project – was to start disseminating its name, the project and its technology to potential customers and markets.

The status of UNEXMIN GeoRobotics Ltd as of October 2019 is that the shareholder structure for the company is established and the forum for the Founding Members is formed. This group follows the distribution of shares schemes as well as internal agreements as specified in the Consortium Agreement.