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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. DeepGreen Metals Inc.

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

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At a high level, the findings suggest that, compared to mining the land for battery metals, sourcing the needed metals from ocean nodules can deliver: 70% less CO 2 e direct emissions. 90% reduction in SO x and NO x emissions. 94% less stored carbon at risk. 100% reduction in solid waste. 94% less land use. 93% less wildlife at risk.

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Could Sucking Up the Seafloor Solve Battery Shortage?

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The Metals Company (previously DeepGreen Metals) in Vancouver expects to be the first to commercially produce metals from these nodules by 2024. Land-based mining is already fraught with environmental destruction, emissions, human rights abuses , and mountains of waste, as well as precarious global supply chains.

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