Currently viewing Global edition

DeepGreen to form TMC in US$2.9B SPAC merger

Seafloor battery metals developer DeepGreen Metals has entered into a US$2.9 billion merger agreement with Sustainable Opportunities (SOAC), a special purpose acquisition company (SPAC) with an ESG focus which will be renamed The Metals Company.

DeepGreen to form TMC in US$2.9B SPAC merger DeepGreen to form TMC in US$2.9B SPAC merger DeepGreen to form TMC in US$2.9B SPAC merger DeepGreen to form TMC in US$2.9B SPAC merger DeepGreen to form TMC in US$2.9B SPAC merger

DeepGreen's seafloor nodule harvester

The resulting company aims to responsibly source battery metals by exploiting polymetallic nodules on the Pacific Ocean seafloor, which the company says is an abundant, low-cost supply of critical raw