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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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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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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. It's not possible to mine polymetallic nodules from the seafloor on a commercial scale without causing substantial ecological damage over tens of thousands of kilometers," he says.

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