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Deep-sea battery metal developer DeepGreen going public with SPAC to become $2.9B (equity value) The Metals Company

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The estimated resource on the seafloor in the exploration contract areas held by the company’s subsidiaries is sufficient for 280 million EVs—a quarter of the global passenger car fleet. Seafloor polymetallic nodule. The nodules are unattached to the seafloor; i.e., there is no need for drilling and blasting. Source: DeepGreen.

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Could Sucking Up the Seafloor Solve Battery Shortage?

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The supply of metals like cobalt, copper, lithium, and nickel needed for batteries is already shaky , and soaring demand for the hundreds of millions of batteries in the coming decades is likely to trigger shortage and high prices. China processes about 80 percent of battery raw materials, creating a chokehold on global supplies.

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DeepGreen lifecycle analysis argues for sourcing EV battery materials from deep-sea polymetallic nodules

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They have never been mined on a commercial scale, and plans to develop these ocean resources have been met with opposition from ocean-conservation NGOs concerned about disruptions to seabed ecosystems and inhabitants. —“Where Should Metals For The Green Transition Come From”.

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