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Paragon Advanced Labs (PALS.V): High-Speed Mineral Testing Toll Booth

Feb 2, 2026
Peter Shippen, CEO of Paragon Advanced Labs, leads a lab rollout using Chrysos Photon Assay to deliver fast, non-destructive mineral testing. He explains their 12-machine deployment plan, hub-and-spoke logistics, strategic investor ties, and how software and partnerships speed adoption. The conversation covers pricing, uptime, geographic exclusivity, and plans to scale as machine supply grows.
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ANECDOTE

Founding Moment On Site Visits

  • Peter Shippen discovered assay turnaround delays while visiting mining sites and board meetings in 2021.
  • That experience directly inspired him to found Paragon to solve lab bottlenecks with new technology.
INSIGHT

Photon Assay Replaces A 16-Step Bottleneck

  • Traditional fire assay is a 16-step, labor-intensive destructive process that creates bottlenecks and long delays.
  • Photon Assay uses high-powered X-rays to deliver faster, non-destructive readings and reduces those operational bottlenecks.
ADVICE

Secure Scarce Tech Early

  • Move decisively to secure scarce technology early to gain delivery priority and market advantage.
  • Paragon leased 12 Photon Assay machines up front to deploy ahead of likely new entrants.
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