Flash Metals USA (“Flash Metals”), a subsidiary of MTM Critical Metals (ASX: MTM; OTCQB: MTMCF), is pleased to announce a major technological milestone, achieving successful recovery of gallium & germanium from semiconductor industry waste using its proprietary Flash Joule Heating (FJH) technology at its lab in Houston, Texas. This positions Flash Metals as a leader in sustainable, high-efficiency recovery solutions for these ultra-high-value technology metals. Flash Metals’ advancement in gallium and germanium recovery is bolstered by its previously announced strategic partnership with New York-headquartered Indium Corporation (“Indium”), one of the Western world’s largest suppliers of refined specialty technology metals. This collaboration has been instrumental in assisting with the sourcing of the high-value feedstock used for this testing. This partnership strengthens Flash Metals’ access to critical materials and accelerates the pathway towards commercialization.

“Flash Metals USA’s latest test results are very meaningful and could be an industry game-changer for the recycling of critical “technology metals” as this development path continues,” said Indium’s Business Unit Manager, Metals Markus Roas. “The ability to recover Gallium and Germanium from waste streams represents an important opportunity to establish a circular supply chain for materials that are essential to semiconductors, defence, and renewable energy industries. The integration of MTM’s technology could reshape how these metals are sourced, reducing dependence on foreign-controlled supply chains. Indium Corporation fully supports this pioneering effort and looks forward to working alongside MTM in advancing this transformative initiative.”

“We're thrilled with FJH technology's versatility across multiple metals, and the latest test results for ultra-high-value technology metals couldn't be timelier given the current geopolitical landscape,” said Michael Walshe, Managing Director & CEO of MTM. “Gallium and germanium are indispensable to semiconductors and defence applications, yet their supply chains remain highly vulnerable due to overwhelming dependence on imports—particularly from China. Flash Metals' proprietary process offers a commercially viable, environmentally friendly solution to secure domestic supplies of these strategic materials, creating a major economic opportunity for Flash Metals”

Comparison of Traditional Recovery Methods vs. FJH Technology 

The global demand for gallium and germanium has surged due to their critical roles in semiconductors, defense applications, and renewable energy technologies. However, existing recovery methods for these metals remain inefficient, environmentally harmful, and cost-intensive. Traditional processes, such as acid leaching, solvent extraction, and smelting, often involve high reagent consumption, toxic waste production, and significant energy costs with resultant low selectivity and metal recovery efficiency. 

Flash Metals’ proprietary FJH technology represents a revolutionary alternative. By using rapid, high-energy pulses to volatilize and recover metals, FJH eliminates the need for hazardous chemicals, significantly reduces processing times, and achieves high metal recoveries (~90% for gallium and ~80% for germanium). This not only provides an economically viable and environmentally sustainable solution but also strengthens domestic supply chains by reducing reliance on foreign-controlled sources. 

The following table compares traditional - yet rarely employed - recovery methods with Flash Metals’ FJH technology, highlighting why this breakthrough represents a paradigm shift in critical metal recycling.

Industry Impact and Market Opportunity 

Gallium, germanium, and indium are classified as critical minerals by the U.S. Department of Defense, with no primary domestic production of gallium or indium, and over 50% of U.S. germanium demand met through imports. The geopolitical implications of China’s export restrictions on gallium and germanium, which took effect in 2024, underscores the urgent need for alternative supply solutions. 

• Gallium Prices: Surged by over 50% in 2024, driven by supply disruptions & export bans. 

• Germanium Market Tightness: U.S. and EU nations actively investing in alternative sources to reduce reliance on China. 

Flash Metals’ breakthrough unlocks a multi-billion-dollar addressable market as governments and industries seek sustainable, onshore solutions for securing these materials.

Supply Chain Disruptions & Risk for Western Nations 

The semiconductor and other associated manufacturing industries are expected to face disruptions, leading to potential shortages and significant price increases for gallium-dependent technologies. Several western nations are 100% reliant on gallium imports from China (see Fig. 3 below).

China's recent export controls on critical minerals, particularly germanium and gallium, have significantly disrupted global supply chains. Effective August 1, 2023, China imposed restrictions on these metal exports, citing national security concerns. Given that China produces over 95% of the world's gallium and around 70% of its germanium, these measures have led to substantial supply constraints. 

The U.S., which relies entirely on imports for these minerals, has been notably affected, especially in sectors like semiconductors and defense technologies. Following the implementation of these export controls, gallium prices surged by 27% within a week, with a cumulative increase of 68% by December 2023. In a further escalation, on December 3, 2024, China expanded its export bans to include antimony and superhard materials, intensifying global concerns over the stability of critical mineral supplies.

Breakthrough Technology & Recovery Process 

The testing utilized FJH technology at Flash Metals’ lab in Houston, Texas, to process gallium and germanium waste supplied by semiconductor metal refining partners. 

KEY RESULTS: 

• Gallium Recovery: Approximately 90% of the gallium (by mass) was successfully extracted and captured, with opportunities for further optimization. 

• Germanium Recovery: Approximately 80% recovery (by mass) was achieved, with opportunities for further optimization. 

• Minimal Metal Losses: Only trace amounts of gallium and germanium were found in wash solutions, confirming high capture efficiency within the closed system. 

TEST SETUP: 

• Chlorination in the presence of proprietary Flash Metals catalysts was performed within the reactor to enhance metal recovery. 

• Super-cooled proprietary outgas recovery systems used to condense reaction products.

ANALYSIS METHODOLOGY: 

• Scanning Electron Microscopy with Energy Dispersive Spectroscopy (SEM/EDS): Used to analyze the solids collected from the reactor and downstream systems. 

• Inductively Coupled Plasma Mass Spectrometry (ICP-MS): Employed to quantify the metal content in the captured chlorides, co-products, and residual materials. 

• Thermogravimetric Analysis (TGA): Used to assess the decomposition and transformation of recovered critical metals under proprietary FJH conditions. 

• TotalQuant Inductively Coupled Plasma Mass Spectrometry (ICP-MS)7 was used to quantify the metals in the water wash solutions.

The Hidden Resource: Large-Scale Waste Potential 

Millions of tons of semiconductor production waste and electronic scrap containing gallium, germanium, and indium is currently landfilled, representing a massive untapped resource. 

Preliminary assessments suggest that: 

1. Millions of tonnes of semiconductor waste containing gallium, germanium, and indium have been disposed of globally. 

2. Potential secondary resources in industrial landfill sites could rival primary deposits in scale. 

3. Flash Metals plans to initiate studies to quantify and validate this waste-derived metal inventory, opening the door for future resource classification. 

Additional “Technology Metal” Opportunities 

Indium (In) and Bismuth (Bi) represent a high-value market opportunity for Flash Metals, as these metals are critical in advanced electronics, solar panels, and specialty alloys. Indium is primarily used in indium tin oxide (ITO) coatings for displays and touchscreens, while Bismuth is increasingly replacing lead in environmentally friendly applications, including pharmaceuticals and low-melting alloys. 

Despite their strategic importance, Western supply chains remain vulnerable, with Indium supply dominated by China (~50% of global production) and Bismuth facing similar geopolitical risks. Currently, Indium is largely recycled from ITO scrap in Japan and South Korea, but U.S. infrastructure for indium and bismuth recovery remains underdeveloped. Flash Metals’ FJH technology offers a unique opportunity to efficiently recover these metals from industrial and electronic waste, unlocking new potential supply sources and economic opportunities.

Next Steps & Commercialisation Pathway 

Flash Metals’ breakthrough in gallium and germanium recovery represents a first-mover advantage in the development of scalable, cost-effective solutions for securing these essential materials. With rising geopolitical tensions, soaring demand, and an urgent need for domestic supply chains, Flash Metals is ideally positioned to capture this growing market opportunity. 

The next phase of testing will focus on optimizing reaction conditions to further purify gallium and germanium metal products, improving recovery yields, and expanding trials to other critical metal-containing feedstocks. 

The path ahead: 

1. Expand Trials: Testing additional waste feedstocks, including indium and bismuth-rich materials. 

2. Optimize Process Efficiency: Refining FJH conditions to enhance metal purity and economic recovery. 

3. Strategic Partners: Pursuing commercial business models with semiconductor & recycling industry stakeholders. 4. Scale for Industrial Application: Exploring pilot-scale implementation for high-throughput processing.

For further information, please contact: 

Lauren Condoluci

Lauren@distinctiveedge.partners

About Flash Metals USA
Flash Metals USA, headquartered in Houston, Texas, is a wholly owned subsidiary of MTM Critical Metals, a publicly traded Australian company. Flash Metals specializes in advanced metal recovery technologies and possesses exclusive licensing rights to the innovative Flash Joule Heating (FJH) technology, developed in partnership with Rice University in Houston. FJH is an advanced electrothermal process that enhances metal recovery and mineral processing compared to traditional methods. By rapidly heating materials in a controlled atmosphere, FJH efficiently extracts metals like lithium from spodumene, gallium from scrap, and gold from e-waste, among others. This technology has the potential to revolutionize metal recovery by reducing energy consumption, reagent use, and waste, offering a more economical and environmentally friendly alternative.

To learn more, visit: https://www.flashmetalsusa.com/