{"data":{"type":"company_profile","id":144100,"entity_id":"wefunder:company:144100","attributes":{"canonical_url":"https://wefunder.com/feltandfat","generated_at":"2026-06-04T18:40:08Z","updated_at":"2026-06-04T05:03:06Z","entity_ids":{"company":"wefunder:company:144100","slug":"wefunder:company_slug:feltandfat"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-04T18:40:08Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-04T05:03:06Z","as_of":"2026-06-04T18:40:08Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-04T05:03:06Z","as_of":"2026-06-04T18:40:08Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2026-03-16T15:32:36Z","as_of":"2026-06-04T18:40:08Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2026-03-16T15:32:36Z","as_of":"2026-06-04T18:40:08Z","confidence":"medium"}}},"company":{"id":144100,"entity_id":"wefunder:company:144100","slug":"feltandfat","name":"Felt and Fat Ceramics","tagline":"A Philadelphia brand boosting American ceramic manufacturing. ","story":"In an industry where the designers, makers and end-users are separated by oceans and layers of brokers, we choose to work directly and to own the entire process. We design with our clients, we make the clay and fire the kilns, we keep it local. Because of our vertical integration, investment in technology and focus on agile production, we are able to produce at scale while offering in depth customization and artisanal quality to our clients.Founded in 2014 by designer Nate Mell, the mission of Felt and Fat is to practice innovative, collaborative ceramic design and manufacturing domestically while providing high quality manufacturing jobs to our local community.The StoryIn 2013 Chef Eli Kulp asked one of his servers, Nate Mell, to design plates for his new restaurant: High Street on Market in Philadelphia.In 2014 after that first request, Nate decided this could be a business, and Felt+Fat was formed.As the brand expanded, a growing home audience started asking to purchase Felt+Fat products. Soon thereafter the first Felt+Fat website was launched. Subsequent years saw the hiring of employees, two separate studio moves, small equipment loans and an ever expanding set of production capabilities.COVID-19 proved to be a major catalyst for growth at Felt+Fat. Government loans and grants allowed the brand to invest in sales strategies that brought about exponential revenue increases. Since then, Felt+Fat continues to grow as these strategies prove to be more and more effective.Felt+Fat produces ~57k pieces annually and employs 24 staff. The brand has worked with hundreds of restaurants around the country and in places like France, Qatar and Japan. A recent partnership with community lender PIDC and a small group of investors is funding expansion into a new 26k sq ft facility, coming online in Q2 2024.\u0026nbsp;Strong Market Presence\u0026nbsp;We've got incredible traction with top restaurants around the country that have partnered with us for their tableware. We also have a stacked lineup of high profile celebrity brand collaborations. All of our relationships are rooted in an authentic connection with brands and individuals who value high quality, American made production. Trusted by Top ChefsAs a brand that began in the hospitality industry, Felt+Fat has been embraced by a multitude of chefs and industry professionals across the country.Major Celebrity CollaborationsFeatured in...CollectionsStandardCore shapes and colors designed in collaboration with professional chefs.SeasonalEvolving colors and textures enhance collectability and sustain long-term consumer interest.Limited EditionEnabling cost-effective experimentation and keeping the brand relevant to current design trends.SecondsDiscounted and slightly flawed items hook customers with heavy discounting, minimizing production waste.CollaborationFull design control positions us as a premium collaborator, expanding the audience and maintaining brand freshness.CustomFrom color matching and logo embossing to full product development, customization attracts a diverse clientele.Growth + ExpansionProduction scale up is well underway with the main move to our new facility having started in late August. Equipment and facility upgrades will dramatically increase production efficiency and lower cost-per-piece within the first year.Since we own the entire design and production process, we can easily take small bets on new products and finishes, testing the market before full scale up. Not being fully leveraged in and singular sales vertical allows us to pivot quickly should any one vertical experience a downturn.We plan to scale revenue in tandem with production by focusing on low hanging fruit. Since Felt+Fat has a great name and many strong relationships in hospitality we will start there. Our new director of business development, Madison Alpern, is already building key relationships and bolstering our sales infrastructure.Once we're able to reach peak production output and wholesale saturation, we plan to continue to increase revenue through price engineering and shifting sales toward our most profitable verticals. As our brand presence increases we can allow for a higher percent of product allocation towards DTC.Future projections are not guaranteed.What's Next?New facilities bring enhanced capabilities and efficiency with an eventual goal of 400k+ pieces produced annually.The addition of Madison + increased output allows us to target previously unreachable, large partners.Expand our marketing playbook with direct mail, SMS, and a versatile ambassador program across marketing platforms.We'll expand our product lines, adding new categories like hardware and lighting. We'll target business gifting and partner with interior designers.We plan to attend several major trade shows throughout the year, pop-up in multiple cities and begin moving towards a brick and mortar retail program.A proven marketing playbookfor DTC growth, scaling to $2M in sales in 2023 (+45% YoY).We are highly efficient with digital advertising, generating $4.50 in total sales for every dollar spent in paid ads.Digital advertising has been our main DTC growth lever over the last 2 years. In 2023, we doubled spending while maintaining similar ROI. We will continue to scale our spend and expand into new channels in 2024.We continued to grow average order value over the last 2 years, maximizing how much customers are spending with us.Double-digit growth in AOV each year since 2021, fueled by investments in curated sets, bundling and site functionality allowing customers to mix and match pieces. This has led to improved unit economics per order.We have maintained a healthy mix of new and returning customers, signaling strong interest and loyalty in the brand.60/40% split between new and returning customers in 2023 as we grew topline by 60% — driven by an optimized email program, promotional calendar and optimized paid customer acquisition strategy.Consistent GrowthMajor growth observed post -COVID continued through 2022 while similar stage companies saw major YoY declines. 66% growth in 2023(projections not guaranteed) Scaling Production2019-2020: Minimal slow down despite COVID shutdowns.2021-2023: Reaching maximum capacity with current facility.2024 + Beyond: New facility + equipment brings capacity to 400k+ pieces annually with room for additional growth.(projections not guaranteed) Community Focus We provide quality jobs to the Philadelphia residents that need them most. Entry level wages start at $16 - $18 / hour with generous PTO, 50% medical coverage and parental leave. We plan to increase starting wages, add 401K benefits and increase medical coverage, helping to cement long term employee retention.The NeighborhoodFelt+Fat was born and continues to run entirely in the Kensington neighborhood of Philadelphia,\u0026nbsp;Pennsylvania.Philadelphia is 7th in size and 1st in poverty among large cities in America. Within Philadelphia, Kensington is the poorest of neighborhoods.Once a dense manufacturing center with a thriving middle class community, the neighborhood declined into poverty as factories were shuttered in the 1960s. Today, Kensington is known for being the epicenter of the opioid crisis in the Northeastern United States.\u0026nbsp;In spite of all this, we see hope as young entrepreneurs, makers, builders and artists have been working to elevate this corner of our city. We are proud to be a part of this movement and excited to help create jobs and beauty in this place we call home.StaffWe are dedicated to developing the new generation of ceramic manufacturers and finding them in our own backyard. 100% of our staff live in Philadelphia and many in the neighborhood where the factory is housed.We provide competitive compensation, professional development and specialized training in specialty areas like mold making and glaze chemistry. Our staff are professional artists, the recently incarcerated, part time musicians and avid food nerds. We believe in creating generational jobs that build generational wealth.\u0026nbsp;We've Assembled a World Class Team In addition to our local community, we've established a world class leadership team and advisory board that will help Felt and Fat get to the next level.With our new manufacturing facility that allows us to 10x our production, we've surrounded ourselves with leaders that will help us scale and get to $10M+ in revenue (projected in 2027). LeadershipAdvisorsJoin the community.Most product brands today consist of nothing more than a small team of marketing experts picking through a catalog from an overseas factory, repackaging those goods with a nice font and selling them at a 300% markup. The ultimate goal is to capture enough market share quickly so that they can flip the brand to a private equity firm before their product of the moment goes out of style. This may be an oversimplification and a tad cynical but it's the sad truth of the state of global manufacturing that we have overvalued quick profits over sustainable, community based growth.We believe that return on investment is measured in more than dollars (though we know those are important too!) An investment in Felt+Fat means providing high quality jobs for a community that needs them. It means preserving knowledge and skills that may very well die out in our country otherwise. It means valuing quality over commodity. In short, investment in Felt+Fat means investing in the future of American pottery manufacturing. Come partner with us in this mission, we'd love to have you join our community.More informationFor a deep dive into Felt+Fat financials and metrics, please follow this link.","location":"Philadelphia, PA","website":"https://www.feltandfat.com","total_amount_raised":101645,"total_investors":157,"is_funded":true,"is_active":true,"quality_score":3,"related_urls":["https://wefunder.com/feltandfat","https://www.feltandfat.com"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/144100/xxl_blob.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/144100/large_blob.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/144100/standard_blob.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/144100/standard_blob.jpg"},"links":{"company_url":"https://www.feltandfat.com","linkedin_url":"https://linkedin.com/company/felt-fat-llc","facebook_url":"https://facebook.com/feltandfat","instagram_url":"https://instagram.com/feltandfat/"},"highlights":[{"id":75585,"name":"1m_plus_revenue","url":"1mplusrevenue","presentable_name":"$1M+ Revenue","description":"Earned over the last 12 months","image_url":"https://uploads.wefunder.com/2021/profile-highlights-up-arrow.svg"}],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"Proudly building American manufacturing and providing high quality jobs in an underserved community"},{"index":2,"claim_id":"claim-fact-2","value":"$2M in ‘23 Revenue, 66% YoY growth"},{"index":3,"claim_id":"claim-fact-3","value":"Expanded from a 6k to 26k sqft manufacturing facility in the Kensington neighborhood of Philadelphia"},{"index":4,"claim_id":"claim-fact-4","value":"Collaborations with Underdog (Jason Kelce), Houseplant (Seth Rogen), Death \u0026amp; Co, Megan Rapinoe"},{"index":5,"claim_id":"claim-fact-5","value":"Major supply agreement with Danny Meyer's USHG for rapidly expanding property"},{"index":6,"claim_id":"claim-fact-6","value":"Producing tableware for 200+ restaurants, including multiple Michelin star + James Beard winners"},{"index":7,"claim_id":"claim-fact-7","value":"Raising capital for equipment and build out of our new manufacturing facility"}],"team":[{"id":3912715,"entity_id":"wefunder:company_role:3912715","user_entity_id":"wefunder:user:4140470","role":"founder","name":"Nate Mell","title":"Founder / CEO","bio":"Growing a multimillion dollar company from scratch.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/3912715/square_blob.jpg?1753980198","profile_url":"https://wefunder.com/nate.mell","personal_url":"https://www.feltandfat.com","related_urls":["https://wefunder.com/nate.mell","https://www.feltandfat.com"]},{"id":5197630,"entity_id":"wefunder:company_role:5197630","role":"employee","name":"Lauren Mabry","title":"Head of Glaze Development","bio":"Head of Glaze Development, Lauren has decades of experience as a ceramic artist. She is the recipient of a Pew fellowship and has work in many permanent collections.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/5197630/square_blob.jpg?1724429116","related_urls":[]},{"id":5197632,"entity_id":"wefunder:company_role:5197632","role":"employee","name":"Nilton Duque","title":"Head of Growth (Fractional)","bio":"Head of Growth, Nilton came on in 2022 with over 15 years of experience in growing DTC brands online. He has been instrumental in helping to double DTC revenue and build a framework for continued growth since joining the team.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/5197632/square_blob.jpg?1728571600","related_urls":[]},{"id":5210495,"entity_id":"wefunder:company_role:5210495","role":"employee","name":"Madison Alpern","title":"Director of Business Development","bio":"Over 15 years in Hospitality and interior design sales. Madison has worked with top chefs from around the world and global clients like SoHo House among others. The latest member of the team, Madison is helping shape the future of FF sales.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/5210495/square_blob.jpg?1725132388","related_urls":[]},{"id":5211243,"entity_id":"wefunder:company_role:5211243","role":"employee","name":"Betti Wright","title":"Process Manager","bio":"Since joining the team in 2021, Betti has spearheaded dozens of growth initiatives in our manufacturing process, including the onboarding of new equipment and implementation of new process efficiencies.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/5211243/square_blob.jpg?1726493033","related_urls":[]}],"featured_investors":[{"id":10076,"entity_id":"wefunder:company_investor_profile:10076","investor_profile_id":4005868,"investor_profile_entity_id":"wefunder:investor_profile:4005868","subject_entity_id":"wefunder:notable_investor:13702","name":"Jeff and Suzanne Kahn","role_title":"","bio":"A notable real estate developer and most recently a principal at Shift Capital; a neighborhood investment group in Kensington, where F+F is located. Sadly Jeff passed away in summer 2024 but his wife Suzanne remains a close friend of the brand.","avatar_url":"https://uploads.wefunder.com/2021/user_default_icon_circle.png","profile_url":"https://wefunder.com/jeff.and.suzanne.kahn","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/jeff.and.suzanne.kahn"]},{"id":10085,"entity_id":"wefunder:company_investor_profile:10085","investor_profile_id":4008935,"investor_profile_entity_id":"wefunder:investor_profile:4008935","subject_entity_id":"wefunder:notable_investor:13711","name":"Private Strategic Investor","role_title":"","bio":"While this investor wishes to remain anonymous, they have a long time relationship with the brand and have worked with Felt+Fat professionally for several years.","avatar_url":"https://uploads.wefunder.com/2021/user_default_icon_circle.png","profile_url":"https://wefunder.com/private.strategic.investor","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/private.strategic.investor"]},{"id":10134,"entity_id":"wefunder:company_investor_profile:10134","investor_profile_id":4006689,"investor_profile_entity_id":"wefunder:investor_profile:4006689","subject_entity_id":"wefunder:user:4515337","name":"Eli K.","role_title":"","bio":"A decorated chef and partner of High Street Hospitality Group, host of The Chef Radio Podcast, and co-host of Delicious City Philly Podcast. It was at a request from Eli that Nate designed the first plate that lead to Felt+Fat being formed.","avatar_url":"https://uploads.wefunder.com/2021/user_default_icon_circle.png","profile_url":"https://wefunder.com/eli.k","endorsement_quote":"I’ve had the privilege of witnessing Felt + Fat’s journey firsthand—from its humble beginnings to becoming a world-class ceramics brand that now stands at the forefront of the industry. As a chef and restaurant operator, I’ve relied on Felt + Fat’s beautifully crafted pieces since day one, and I’ve seen their commitment to quality not just maintained, but continually elevated. The team has always shown a relentless pursuit of excellence, and now, with their move to a larger facility, the sky is the limit. This expansion allows Felt + Fat to produce at higher volumes and more competitive costs, positioning them for explosive growth. For investors seeking a nearly sure bet, Felt + Fat’s trajectory, paired with their innovative approach and ability to deliver on larger orders, makes their future brighter than ever. Nate’s leadership has been the driving force behind Felt + Fat’s transformation from a small idea into a powerful presence in the ceramics world. Their location in Philadelphia’s historic Kensington neighborhood adds even more significance to this journey. Once a thriving hub of American manufacturing, the area has seen tough times, but companies like Felt + Fat are spearheading its revival. Supporting this company means investing not only in a top-tier ceramics brand but also in the revitalization of a community rich in history and culture. Felt + Fat isn’t just about ceramics; it’s about fostering a movement that combines artistry, craftsmanship, and social impact. Investing here means being part of something truly transformative.","endorsement_name":"","investment_total":205500,"investment_info":"Invested $5,500 this round \u0026 $200,000 previously","is_lead_investor":true,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/eli.k"]}],"investor_memos":[],"tab_counts":{"posts":0,"ask_questions":4,"featured_investors":3,"faq_entries":4},"active_fundraises":[{"id":98800,"entity_id":"wefunder:fundraise:98800","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":50000.0,"minimum_target":"50000.0","maximum_target":"124000.0","funding_started_at":"2025-02-01T00:40:11Z","funding_closed_at":"2025-08-30T03:59:59Z","auto_close_at":"2025-08-30T03:59:59Z"},{"id":98801,"entity_id":"wefunder:fundraise:98801","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":124000.0,"minimum_target":"50000.0","maximum_target":"124000.0","funding_started_at":"2024-08-23T15:56:02Z"}],"latest_fundraise":{"id":98800,"entity_id":"wefunder:fundraise:98800","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2025-02-01T00:40:11Z","funding_closed_at":"2025-08-30T03:59:59Z","terms":{"eb":"$9M","nb":"$10M","txt":"valuation cap"}},"recent_posts":[],"q_and_a":[{"id":307161,"entity_id":"wefunder:comment:307161","question":"What can you tell us about your raw material? Sourced from? Carbon friendly or ambitions for this?","author_name":"Marnie Lett","votes":0,"created_at":"2025-04-30T00:00:39Z","canonical_url":"https://wefunder.com/feltandfat#question-307161","answers":[{"id":308006,"entity_id":"wefunder:comment:308006","answer":"Hello! Thanks for the question, our materials are nearly 100% sourced domestically in the USA, we do have 1 ingredient sourced from the UK but we have a new material we have been testing as a substitute. In the grand scheme of things, ceramic raw materials come from mines, but they are typically secondary products from those mines. So if a company is digging for something like gold / lithium or another rare mineral, they are also getting quite a lot of other materials like silica, etc. Our industry is typically buying all a lot of these secondary materials. As far as our ambitions around general environmental stewardship goes, there are a few points to make. Working in small batch and selling in a domestic market inherently brings down your carbon footprint tremendously in that we are making the product here and shipping it directly to clients, so there is no boat from X continent gong to Y continent and then off to a distributor or a co-packer etc. It's only really moving once and not too far. Secondly you would look at waste and energy sources. Our waste in comparison to other companies is relatively quite low, though we are looking at more ways to reuse certain materials that would otherwise be waste. When it comes to energy sources, we use a mix of electric and gas in our production, I don't see getting away from natural gas anytime soon for our kilns but we do use incredibly energy efficient units to which reduces the quantity of gas used. We are hoping in the future to invest in technology that will let us use the ambient kiln heat for things like dryers and building heat during winter months, but that will take further capital / grants. I hope that helps!","author_name":"Nate Mell","votes":0,"created_at":"2025-05-12T16:06:36Z"}]},{"id":305566,"entity_id":"wefunder:comment:305566","question":"Do you see the recent tariffs and threats of tariffs impacting your business in the short or long term?","author_name":"Corina Borsuk","votes":0,"created_at":"2025-04-08T03:08:49Z","canonical_url":"https://wefunder.com/feltandfat#question-305566","answers":[{"id":306353,"entity_id":"wefunder:comment:306353","answer":"Great question! We source nearly 100% of our raw materials domestically and have a backup plan on the one material we get from the UK should the cost go up significantly, so on the manufacturing side we are in great shape. The fact that most other tableware sold in the US is made internationally in places like China / Portugal and that 99% of our sales are domestic means that we benefit in many ways from tariffs. The potential negative impact on our business is purely on the macro-economic side: if people are nervous about spending money and we enter a general recession it's bad for all business, us included. Ultimately, I am not pro-tariff because of the broad economic uncertainty it brings but if any business benefits from them, it's folks like us.","author_name":"Nate Mell","votes":0,"created_at":"2025-04-18T16:40:00Z"}]},{"id":299120,"entity_id":"wefunder:comment:299120","question":"Were you profitable in 2024, what are your margins, what do you project to make off of 5,7,\u0026amp;10m in sales? Would you consider paying a dividend in profitable years and is there an exit plan?","author_name":"Jarod Rudisill","votes":0,"created_at":"2024-12-30T00:49:43Z","canonical_url":"https://wefunder.com/feltandfat#question-299120","answers":[{"id":304300,"entity_id":"wefunder:comment:304300","answer":"Hi Jarod, apologies for missing this until now. We were not profitable in 2024 but are working towards break-even / profitability in 2025. We are currently working on new projections so I will circle back with more on the numbers soon but dividends would absolutely be on the table in future years. Our best exit consideration right now is acquisition by a larger company, we have relationships with a few that might fit the bill but the near term is profitability, scaling and locking down large b2b clients.","author_name":"Nate Mell","votes":0,"created_at":"2025-03-18T18:35:44Z"}]},{"id":295686,"entity_id":"wefunder:comment:295686","question":"Can you share your thoughts on how often you will update us on how things are progressing with your goals and business plan? Secondly, do you intend to file the annual report with the SEC? Thanks for your feedback.","author_name":"Karolina Ramirez","votes":0,"created_at":"2024-11-04T16:04:27Z","canonical_url":"https://wefunder.com/feltandfat#question-295686","answers":[{"id":296031,"entity_id":"wefunder:comment:296031","answer":"Apologies for the slow response here Karolina, first time getting a question on here. We plan to send out quarterly reports to all investors that will include detailed financials, sales pipeline and progress in regards to operational efficiency. In regards to SEC reporting, we do indeed plan to file annual reports.","author_name":"Nate Mell","votes":0,"created_at":"2024-11-11T21:18:00Z"}]}],"faq":[{"question":"Can you share your thoughts on how often you will update us on how things are progressing with your goals and business plan? Secondly, do you intend to file the annual report with the SEC? Thanks for your feedback.","answer":"Apologies for the slow response here Karolina, first time getting a question on here. We plan to send out quarterly reports to all investors that will include detailed financials, sales pipeline and progress in regards to operational efficiency. In regards to SEC reporting, we do indeed plan to file annual reports."},{"question":"Were you profitable in 2024, what are your margins, what do you project to make off of 5,7,\u0026amp;10m in sales? Would you consider paying a dividend in profitable years and is there an exit plan?","answer":"Hi Jarod, apologies for missing this until now. We were not profitable in 2024 but are working towards break-even / profitability in 2025. We are currently working on new projections so I will circle back with more on the numbers soon but dividends would absolutely be on the table in future years. Our best exit consideration right now is acquisition by a larger company, we have relationships with a few that might fit the bill but the near term is profitability, scaling and locking down large ..."},{"question":"Do you see the recent tariffs and threats of tariffs impacting your business in the short or long term?","answer":"Great question! We source nearly 100% of our raw materials domestically and have a backup plan on the one material we get from the UK should the cost go up significantly, so on the manufacturing side we are in great shape. The fact that most other tableware sold in the US is made internationally in places like China / Portugal and that 99% of our sales are domestic means that we benefit in many ways from tariffs. The potential negative impact on our business is purely on the macro-economic si..."},{"question":"What can you tell us about your raw material? Sourced from? Carbon friendly or ambitions for this?","answer":"Hello! Thanks for the question, our materials are nearly 100% sourced domestically in the USA, we do have 1 ingredient sourced from the UK but we have a new material we have been testing as a substitute. In the grand scheme of things, ceramic raw materials come from mines, but they are typically secondary products from those mines. So if a company is digging for something like gold / lithium or another rare mineral, they are also getting quite a lot of other materials like silica, etc. Our in..."}]}}}