Extrac Technologies Aims for London IPO in 2024 with £7m Pre-Float Fundraising

The company has started talks with investors about a £7m pre-float fundraising, which will be led by Chrystal Capital Partners.

Extrac is expected to be operational cashflow-positive by October, with earnings next year forecast to be more than £20m.

The pre-IPO funding is being raised at a pre-money valuation of £40m.

The company plans to mine its silica quarry for a broad spectrum of industrial production, with high-purity frac sand used in industries such as oil and gas and glass and aluminium production.

The purification of silicon to create metal parts for electric vehicles and semiconductor industries is seen as an increasingly strategic natural resource.