Codelco has acquired a minority stake in I-Pulse Inc., a U.S.-based company specializing in high-power pulsed (HPP) technologies, as part of its efforts to accelerate research and the adoption of innovative solutions in mining.
The partnership aims to leverage Codelco’s mining expertise alongside I-Pulse’s technological capabilities. The advanced industrial applications developed by I-Pulse have potential uses in processes such as rock fragmentation, precision cutting, and drilling. According to both companies, these systems could reduce energy consumption by up to 80% during intensive stages like comminution—which includes crushing and grinding—while also decreasing the need for explosives and minimizing damage to surrounding rock. This could lead to more efficient operations with lower costs and reduced environmental impact.
I-Pulse has spent nearly two decades developing HPP technology that releases short but powerful electric discharges at minimal marginal cost. The company states that its technology can safely convert the energy from a mobile phone battery into bursts of power comparable to a nuclear plant for fractions of a second. These advances have enabled disruptive changes across various industries including mining, resource exploration, manufacturing, agriculture, and geothermal energy.
“Innovation is key for the future of mining, and at Codelco we face major technical challenges at the frontier of human knowledge. The portfolio of I-Pulse presents opportunities with high financial and strategic potential for mining and, with this step, we maintain our leading role at the forefront of the industry,” said Máximo Pacheco, chairman of Codelco’s board.
“All executives and scientists at I-Pulse welcome our new shareholder, Codelco,” said Robert Friedland, CEO and co-founder of I-Pulse. “Minerals are fundamental to our daily lives and essential to meet growing global demands for energy and technology. The traditional way in which the mining industry has crushed rocks using compressive force cannot achieve the necessary leap required to produce vast amounts of copper and other critical minerals needed for national security, building data centers and artificial intelligence infrastructure, or meeting multiple requirements of the energy transition.”
This investment builds on an initial Letter of Intent signed between Codelco and I-Pulse in May 2025. Since then, both organizations have worked together to identify practical applications for pulsed power technology in mining—a process now formalized through this capital investment. The agreement also grants Codelco preferential conditions for access to any resulting technologies.
I-Pulse was founded in 2007 by Robert Friedland and Laurent Frescaline as a private U.S.-based firm focused on applying high-intensity pulsed power technology across civilian sectors. Its innovations target challenges such as competitive geothermal base-load power generation; efficient production of critical minerals; crop protection; as well as disruptive welding, forming, and setting solutions at an industrial scale. The company operates facilities in Albuquerque (New Mexico), Detroit (Michigan), and Toulouse (France).
Codelco remains one of the world’s largest copper producers since its nationalization in 1971. It specializes in mineral exploration, development, extraction—and processes these resources into refined copper products sold globally. Since becoming state-owned over five decades ago, it has contributed $158 billion USD (adjusted to 2023 values) to Chile’s government.
