The Metals Company Showcases Pilot Nodule Collection Technology at Stakeholder Event Co-Hosted by Allseas
04 Noviembre 2021 - 6:00AM
Business Wire
The Metals Company (Nasdaq: TMC) (“TMC” or the “Company”), an
explorer of the world’s largest estimated undeveloped source of
battery metals for electric vehicles (“EVs”), today announced the
completion of their event in Rotterdam, Netherlands, ‘Engineering
the Future with Allseas,’, co-hosted by the Company’s strategic
partner and shareholder, Allseas Group S.A. (“Allseas”). In
partnership with TMC, Allseas is developing a deep-sea collection
system to responsibly recover polymetallic nodules from the ocean
floor and lift them to the surface for transportation to shore.
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Hidden Gem (The Metals Company) (Photo:
Business Wire)
At the event, key stakeholders were given the opportunity to
tour the pilot polymetallic nodule collection vessel, the Hidden
Gem, and the facility where the prototype of a nodule collector
vehicle is being built. The Hidden Gem is a 228-meter-long former
drill ship and is currently undergoing key modifications to enable
at-sea deployment through its existing moonpool of a
4.3-kilometer-long riser that would bring polymetallic nodules up
from the seafloor. The Hidden Gem is expected to become the world’s
first ship classed as a subsea mining vessel by the American Bureau
of Shipping. Allseas engineers have also integrated a launch and
recovery system for the twelve-meter-long nodule collector vehicle
that would enable it to be deployed over the side of the
vessel.
Both the Hidden Gem and the nodule collector vehicle are key
components of the partnership’s efforts to responsibly recover
polymetallic nodules from the ocean floor and lift them to the
surface for transportation to shore for processing. Allseas current
schedule has the Hidden Gem being deployed in the Clarion
Clipperton Zone (CCZ) to undertake collection tests in mid-2022.
The estimated in situ resource on the seafloor in the exploration
contract areas held by TMC’s subsidiaries is sufficient for 280
million EVs – roughly the entire U.S. passenger vehicle fleet. The
development of this resource offers an abundant, low-cost supply of
critical raw materials for EV batteries and wiring including
nickel, cobalt, copper and manganese, with an expected lower
lifecycle ESG impact than conventional land-based mining.
“One of the great opportunities we have in getting this industry
started is the conversion of assets from the oil and gas industry,
which enables us to reach our milestones with significantly less
capital expense,” said Gerard Barron, Chairman and CEO of The
Metals Company. “It was an honor to be able to showcase the
incredible ingenuity of Allseas engineering for our key
stakeholders, to see the collector coming to life and to stand
onboard the Hidden Gem and witness her transformation firsthand.
The fact that she will be ready for trials next year and for
production in what we anticipate will be 2024 is tremendously
exciting.”
Edward Heerema, Founder and President of Allseas, said: “We've
studied this industry very carefully for many years and when we
gained the certainty as engineers that this can work, we really
went for it. There is no better solution than the conversion of the
Hidden Gem for the first nodule production ship and the development
of the collector vehicle and vertical transportation system are
currently in a stage that we are very comfortable with."
About The Metals Company
The Metals Company is a Canadian explorer of lower-impact
battery metals from seafloor polymetallic nodules, on a dual
mission: (1) supply metals for the clean energy transition with the
least possible negative environmental and social impact and (2)
accelerate the transition to a circular metal economy. The company
through its subsidiaries holds exploration and commercial rights to
three polymetallic nodule contract areas in the Clarion Clipperton
Zone (the “CCZ”) of the Pacific Ocean regulated by the
International Seabed Authority and sponsored by the governments of
Nauru, Kiribati and the Kingdom of Tonga.
More information is available at www.metals.co.
About Allseas
Allseas Group S.A. is a world-leading contractor in offshore
pipeline installation, heavy lift and subsea construction. The
company employs 2500 people worldwide and operates a versatile
fleet of specialised heavy-lift, pipelay and support vessels,
designed and developed in-house.
More information about Allseas is available at
www.allseas.com
Forward Looking Statements
Certain statements made in this press release are not historical
facts but are forward-looking statements for purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally are accompanied
by words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, without limitation, TMC’s
expectations with respect to the readiness of the Hidden Gem and
the nodule collector vehicle, the use and functionality of its
equipment and its partnership with Allseas and the timing of the
pilot nodule collection test trials. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from those discussed
in the forward-looking statements. Most of these factors are
outside TMC’s control and are difficult to predict. Factors that
may cause such differences include, but are not limited to:
regulatory uncertainties and the impact of government regulation
and political instability on TMC’s resource activities; changes to
any of the laws, rules, regulations or policies to which TMC is
subject; the impact of extensive and costly environmental
requirements on TMC’s operations; environmental liabilities; the
impact of polymetallic nodule collection on biodiversity in the CCZ
and recovery rates of impacted ecosystems; TMC’s ability to develop
minerals in sufficient grade or quantities to justify commercial
operations; the lack of development of seafloor polymetallic nodule
deposit; uncertainty in the estimates for mineral resource
calculations from certain contract areas and for the grade and
quality of polymetallic nodule deposits; risks associated with
natural hazards; uncertainty with respect to the specialized
treatment and processing of polymetallic nodules that TMC may
recover; risks associated with collective, development and
processing operations; fluctuations in transportation costs;
testing and manufacturing of equipment; risks associated with TMC’s
limited operating history; the impact of the COVID-19 pandemic;
risks associated with TMC’s intellectual property; and other risks
and uncertainties indicated from time to time in the final
prospectus and definitive proxy statement, dated and filed with the
SEC on August 12, 2021 relating to the recently completed business
combination, including those under “Risk Factors” therein, and in
TMC’s other future filings with the SEC. TMC cautions that the
foregoing list of factors is not exclusive. TMC cautions readers
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. TMC does not undertake or
accept any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements to reflect
any change in its expectations or any change in events, conditions,
or circumstances on which any such statement is based.
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Media | media@metals.co Investors | investors@metals.co Dan
Gagnier | Gagnier Communications | tmc@gagnierfc.com
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