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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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Ranging from 2-10 cm in diameter, the nodules are easy to handle. The combined company is expected to have approximately US$570 million in cash, assuming no redemptions, as part of the business combination, facilitating plans for The Metals Company to start commercial production of battery metals as soon as 2024. Source: DeepGreen.

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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 like picking up golf balls on a driving range," says CFO Craig Shesky. And CEO Gerard Barron is confident they can do this without harming critical subsea ecosystems.

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