CEO LETTER: Leveraging Values to Drive Our Mission

August 2025

Leveraging Values to Drive Our Mission

I'm incredibly proud to be leading Still Bright. We're at a pivotal moment, on the cusp of proving the economics of our system and scaling up for on-site demo production. Our goal is to have a production capacity of about one million pounds of refined copper per year with each demo unit, which is a large step toward becoming commercially relevant. I am confident that with the support of our incredible investors, we'll be able to realize our intended impact and propel Still Bright forward. We have aimed to bring on investors that can stick by our side as we continue to grow. The strategic impact of each investor is already being felt, and we are excited to continue fostering our partnership. 

As we start announcing key achievements towards our goals in the coming months, it’s a critical time to reiterate our mission and share how my values are driving me as a person and driving my decisions as the CEO of Still Bright.

A Better Future, Made Together

My hope is to always be the best version of myself for everyone I interact with, whether that is being a highly productive member of society or being the best husband and father I can be. I hope to set an example for others to do the same. I truly believe that by maximizing our individual positive contributions to society, we can collectively shift the world toward a better future for everyone, especially for those that have been underresourced and overlooked.

At Still Bright, my outlook translates well into our collective mission. We are designing Still Bright to speak across worlds, from copper owners to disregarded communities, and serve as a trustworthy bridge between them all. We are committed to ensuring our compelling technology has a positive impact and to maximize that impact around the world. Though we won't internalize all externalities on our balance sheet, we are devoted to moving with consideration for all stakeholders. 

For many, a mining company might seem antithetical to these ambitions. This is emblematic of the industry's lost social license to operate. To many, metal mining, extraction, and refinement has a horrible reputation, and for understandable reasons. Thinking about mining can instantly evoke thoughts of toxic chemical leaks, displaced people, or destroyed sacred lands. Though mining companies are increasingly considering, compensating, and working with the communities in which they operate, these efforts have not been enough. The local communities have borne the brunt of the negative impacts of traditional mining and have continued the tradition of protests that have delayed or prevented mining projects throughout the world.. Having personally experienced the negative environmental impact from a different industry growing up, I aim to help prevent such harm now. We must do better and we will.

The Copper Crisis and a Sustainable Solution

The damage to mining’s social license directly contributes to the global copper supply gap we are now facing. Large mines that could significantly contribute to the supply gap have been stopped in their tracks, from the Pebble mine and Resolution Copper in the US to Las Bambas, Cobre Panama, and Tia Maria internationally. Traditional metal processing is at odds with the needs of local communities, making it difficult to work responsibly with local communities and the environment. This, combined with the fact that we simply don't have enough copper in the pipeline, creates an unavoidable bottleneck, an insurmountable obstacle in creating a more resilient and intelligent future.

The stakes couldn't be higher. Forecasts from the IEA and others show that copper demand is surging, driven by economic growth, the energy transition, and the explosive growth of data centers for AI. Billions of pounds of new copper will be required, yet planned mines will only meet a fraction of this need. To close this gap, we must unlock new ways to recover copper from waste streams, low-grade or challenging ores, and resources long considered uneconomic.

This is exactly where Still Bright leads. Our technology is a viable pathway to increase copper production quickly and responsibly. In the coming year, we'll not only prove our process at the pilot scale but also define the case studies that show how we can bridge the supply gap while maximizing value and recovering the most possible resources from mined materials. This will drive sufficient new value to be the portfolio-defining companies for our investors as well as the driver of jobs and financial support for local communities. With this widespread advocacy, we can enable widespread adoption and help the US, and other copper-rich nations, to once again achieve copper independence and to secure energy dominance.

Join Us

We're entering a period of transformation for both Still Bright and the copper industry. If our mission and values resonate with you, I invite you to work with us. As we scale, our path will be smoothened by mission-aligned advisors, supporters, and future partners. Together, we can meet this moment and solve one of the most critical resource challenges of our time

Randy Allen

Co-founder & CEO