Business Wire

The Metals Company Joins European Industry Alliances to Bolster Battery Supply Chain for the Clean Energy Transition

Share

Today, The Metals Company (formerly DeepGreen), a developer of the world’s largest and highest-grade estimated source of battery metals, announced it has joined two of the European Union’s foremost industrial alliances—the European Raw Materials Alliance (ERMA) and the European Battery Alliance (EBA)—as the bloc advances its plans to become a global leader in the sustainable production of the batteries necessary to store clean energy and power electric vehicles (EVs).

As a member of these industrial alliances, The Metals Company—which announced in March its plans to go public via a merger with the Sustainable Opportunities Acquisition Corporation (NYSE: SOAC)—brings a new, scalable source of battery metals to the table in the form of polymetallic nodules found unattached on the deep seafloor in the Pacific Ocean, which can help deliver upon their mandate for a diverse, reliable and responsible supply of critical minerals needed for low-carbon technologies.

Under its Green Deal, the European Union has committed to becoming the first net-zero-carbon continent by 2050 and is investing heavily in electrification to achieve a 90% reduction in transport emissions. Batteries will play a key role in this transition and Europe’s largest automaker, Volkswagen, recently committed to building a collective 240GWh of battery capacity across six gigafactories by 2030—eclipsing total global consumption in 2020. But insufficient supplies of critical minerals could yet imperil strengthened climate action, according to the International Energy Agency (IEA). Dwindling discoveries of new metal deposits means shortages of key metals like nickel and copper can be expected from 2024-2025. Meanwhile, rising raw materials prices risk undermining EV manufacturers’ efforts to drive down the cost of EV batteries necessary for mass adoption.

“We’re pleased to join both ERMA and EBA right at this pivotal time in the mass electrification of Europe’s transportation,” said Gerard Barron, Chairman and CEO of The Metals Company. “Sourcing battery metals is the single biggest hurdle facing the clean energy transition and, as calls for supply chain diversification grow louder, we look forward to bringing our abundant, low-cost source to Europe’s doorstep, which could electrify every car on European roads with a fraction of the ESG impacts.”

Like fossil fuel extraction, conventional metals extraction comes at a steep cost to people and the planet, leading to vast deforestation in some of the planet’s most biodiverse carbon sinks. This is generating the world’s largest industrial waste stream and gigatons of emissions, poisoning ecosystems and human health, and driving potential labor exploitation.

Polymetallic nodules, by contrast, contain high grades of four key metals in a single ore and, lying loose on the seafloor, they can be collected without the drilling or blasting. Lacking any toxic levels of heavy elements, The Metals Company is able to source battery metals from nodules while generating zero solid waste and no toxic tailings, and up to 90% less carbon emissions.

With no need for fixed mine infrastructure, nodules can be shipped anywhere in the world for processing and offer the largest known deposit of battery-grade metals on the planet with which to strengthen domestic sourcing of critical minerals and support Europe’s ambitions to become a global leader in sustainable battery production. The Metals Company has exclusive access to three exploration areas sponsored by Pacific states, containing resources sufficient for 280 million EV batteries. As part of its aim to become a leading metals supplier to the continent, potential sites for up to three processing plants—powered by renewables—are currently under consideration.

Both industry alliances will play a leading role in the development of a domestic battery recycling industry. But a lack of available material means significant quantities of new metal will be needed and, as noted in the IEA’s latest report, even under a significant expansion in the recycling of spent batteries, demand would only be reduced by 10%. The Metals Company sees deep-sea nodules as a means to reducing the environmental bill of conventional metal production, while building up a global inventory and circular economy for metals to dramatically reduce—and eventually eliminate—the need to take them from the planet, in line with the bloc’s Circular Economy Action Plan.

About The Metals Company

The Metals Company Metals Inc. is a Canadian developer 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 of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. Earlier this month, The Metals Company announced that it had entered into a business combination agreement with Sustainable Opportunities Acquisition Corporation (SOAC) to accelerate project development and take it public on NASDAQ as ‘The Metals Company’. More information is available at www.deep.green.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media
Rory Usher | DeepGreen Metals | rory.usher@deep.green
Chelsea Lauber | Antenna Group | tmc@antennagroup.com
Investors
investors@metals.co

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Celltrion Healthcare presents the first real-world data for Truxima ® (biosimilar rituximab) in patients with diffuse large B-cell lymphoma at the EHA 2021 Virtual Congress12.6.2021 17:45:00 CEST | Press release

Celltrion Healthcare today presented new data from its post-approval study evaluating the real-world clinical effectiveness and safety of Truxima® (biosimilar rituximab, CT-P10) in patients with diffuse large B-cell lymphoma (DLBCL) at the European Hematology Association (EHA) 2021 Virtual Congress.1 CT-P10 was granted European Medicines Agency approval in 2017 for the treatment of rheumatoid arthritis (RA) and specific blood cancers, including non-Hodgkin’s lymphoma (NHL).2 DLBCL is the most common subtype of NHL, representing an estimated 30-40% of adult cases.3,4,5,6 This non-interventional post-authorisation safety study (PASS) involved the collection of patient-level data from hospital medical records for patients with DLBCL who received CT-P10 treatment in five European countries (United Kingdom, Spain, France, Germany and Italy). CT-P10 treatment pattern data were collected retrospectively during the 30-month observation period and patients were selected based on the treatment t

Janssen Announces Results from Phase 3 MAIA Study Showing Significant Overall Survival Benefits for Treatment with DARZALEX ® ▼ (daratumumab) in Patients with Newly Diagnosed Multiple Myeloma Who are Transplant Ineligible12.6.2021 09:01:00 CEST | Press release

The Janssen Pharmaceutical Companies of Johnson & Johnson announced overall survival (OS) results from the Phase 3 MAIA (NCT02252172) study showing the addition of DARZALEX® ▼(daratumumab) to lenalidomide and dexamethasone (D-Rd) resulted in a statistically significant survival benefit over lenalidomide and dexamethasone (Rd) alone in patients with newly diagnosed multiple myeloma (NDMM) who were ineligible for autologous stem cell transplant (ASCT) and were treated to progression.1 These data were featured in the European Hematology Association (EHA) 2021 Virtual Press Briefing and will be presented as a late-breaking abstract during the EHA Virtual Congress (Abstract #LB1901). The prespecified interim analysis for OS found that after a median follow-up of nearly five years (56.2 months), a 32 percent reduction in the risk of death was observed in the D-Rd treatment arm vs. Rd arm.1 Median OS was not reached in either arm [hazard ratio (HR): 0.68, 95 percent confidence interval (CI),

New Phase 3 Study Results Show IMBRUVICA ® (ibrutinib)-Based Combination Regimen as an All-Oral Fixed-Duration Treatment Demonstrated Superior Progression-Free Survival in Adult Patients with Previously Untreated Chronic Lymphocytic Leukaemia12.6.2021 09:00:00 CEST | Press release

The Janssen Pharmaceutical Companies of Johnson & Johnson today announced primary results from the pivotal Phase 3 GLOW study (NCT03462719) evaluating fixed-duration IMBRUVICA® (ibrutinib) plus venetoclax (I+V) compared to chlorambucil plus obinutuzumab (Clb+O) for first-line treatment of elderly or unfit patients with chronic lymphocytic leukaemia (CLL). The study demonstrated superior progression-free survival (PFS) of a once-daily, all-oral, fixed-duration regimen of I+V versus Clb+O as first-line treatment of CLL; the study also showed improved duration of remission and significantly improved depth of remission.1 With I+V, undetectable minimal residual disease (uMRD) in peripheral blood (PB) was sustained by 85 percent of patients one year after end of treatment.1 The safety and tolerability profile of I+V was consistent with CLL treatment in an older population with comorbidities.1 These data were featured in the European Hematology Association (EHA) 2021 Virtual Press Briefing an

Alluzience ® , the first ready-to-use BoNT-A neuromodulator, receives positive decision for use in Europe11.6.2021 11:53:00 CEST | Press release

Galderma today announced that Alluzience® has completed its European decentralized procedure resulting in a positive decision for the first ready-to-use neuromodulator, a wrinkle relaxing injection, in Europe. National approvals will now take place across the region in line with local processes in each country. Designed for precision, Alluzience® is a liquid form of botulinum toxin type A intended for use in adult patients as a treatment to temporarily improve the appearance of moderate to severe glabellar lines (vertical lines between the eyebrows), when the severity of these lines has an important psychological impact on the patient.1 "The introduction of Alluzience® marks a new era in treatment innovation for upper facial lines in Europe. Like many aspects of physical appearance, glabellar lines can have a significant impact on patients’ confidence and wellbeing. I’ve heard first-hand that the transition to living and working in a virtual world has only exacerbated these issues. As

Secure Communities Forum: Behavioural Insights Can Assist Governments in the Post-Pandemic World11.6.2021 10:15:00 CEST | Press release

The Secure Communities Forum, a global collaboration of security professionals, has convened a leading panel of experts to discuss how behavioural science can impact positive social cohesion, build on the concept of positive citizenship, and encourage positive individual behaviours. The virtual event was attended by 134 people from 18 countries. The Secure Communities Forum convened the webinar in response to the ongoing Covid-19 pandemic. Governments and law enforcement agencies have used behavioural science to encourage adherence to public health measures like social distancing and mask-wearing. Lindsay Juarez, Director at Irrational Labs, USA, opened the session, offering the view that we assume humans are rational, which is not the case. She said: “Behavioural science is about setting people up for success and breaking through the noise. Information isn't enough to change behaviour, the decision-making context matters. “People don’t always act in their own long-term best interests,

Luxembourg’s Supercomputer MeluXina is Operational11.6.2021 09:18:00 CEST | Press release

Luxembourg’s high performance computer MeluXina was officially launched on June 7 putting the country on the global map of computer super powers. MeluXina is capable of executing more than 10 Petaflops, the equivalent of 10 million billion calculations per second, which will rank it among the world’s top 50 supercomputers. The petascale computer is powered by green energy and is part-funded under the European High Performance Computing Joint Undertaking. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210611005115/en/ Minister of State Xavier Bettel; His Royal Highness Henri, Grand Duke of Luxembourg; Minister of the Economy Franz Fayot; EuroHPC Joint Undertaking Executive Director Anders Jensen (Photo: Business Wire) In a series of 8 high-performance computers in the EU, MeluXina joins Vega, another petascale supercomputer located in Slovenia, as the first EuroHPC machines to go live. Its innovative modular architecture allo

Vertex and CRISPR Therapeutics Present New Data in 22 Patients With Greater Than 3 Months Follow-Up Post-Treatment With Investigational CRISPR/Cas9 Gene-Editing Therapy, CTX001™ at European Hematology Association Annual Meeting11.6.2021 09:05:00 CEST | Press release

Vertex Pharmaceuticals Incorporated (Nasdaq:VRTX) and CRISPR Therapeutics (Nasdaq:CRSP) today announced new data on 22 patients,with follow-up of at least 3 months, and ranging from 4 months to 26 months, treated with the investigational CRISPR/Cas9-based gene-editing therapy, CTX001, that show a consistent and sustained response to treatment. CTX001 is being investigated in two ongoing Phase 1/2 clinical trials as a potential one-time therapy for patients suffering from transfusion-dependent beta thalassemia (TDT) and severe sickle cell disease (SCD). In total, more than 40 patients have been dosed across both studies to date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210611005069/en/ All 15 patients with TDT, including six who have the beta zero/beta zero or other severe genotypes, were transfusion-free at last follow-up, and all seven patients with severe SCD were free of vaso-occlusive crises (VOCs) from CTX001 infu