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A Saskatchewan scientist struck gold Thursday on CBC’s Dragon’s Den.
The long-running reality show offers participants a chance to present ideas to a panel of wealthy potential investors, referred to as “dragons.”
U of S professor Stephen Foley and business partner Graham Fritz from Excir Works, pitched the business moguls their innovative technology for extracting gold from electronic waste.
“50 million tonnes of electronic waste are generated each year. It contains over 300 tonnes of gold. What we have is the single best technology to recycle gold,” Foley told the dragons during their presentation.
Foley told the dragons he estimated Excir’s process would cost about $200 to recover one kilogram of gold, which he valued at about $50,000.
The Calgary start-up company, which relocated from Saskatoon in December 2017, asked for $1-million dollars in exchange for a 10-per cent stake.
The idea had all six Dragon’s seeing gold and they came together with a counter offer for an 18-per cent stake.
Foley and Fitz briefly left the dragons hanging before accepting.
“After talking about it, I think we’ll have to decline.” I’m just kidding, we’d be happy to.”
Foley said they put their expertise and training to work after realizing very few chemists were looking at ways of recycling electronic waste.