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The Metals Company Showcases Pilot Nodule Collection Technology at Stakeholder Event Co-Hosted by Allseas
NEW YORK--(BUSINESS WIRE)-- The Metals Company (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nThe Metals Company (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of battery metals for electric vehicles (“EVs”), today announced the completion of their event in Rotterdam, Netherlands, ‘Engineering the Future with Allseas,’, co-hosted by the Company’s strategic partner and shareholder, Allseas Group S.A. (“Allseas”). In partnership with TMC, Allseas is developing a deep-sea collection system to responsibly recover polymetallic nodules from the ocean floor and lift them to the surface for transportation to shore.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211104005653/en/Hidden Gem (The Metals Company) (Photo: Business Wire)\nAt the event, key stakeholders were given the opportunity to tour the pilot polymetallic nodule collection vessel, the Hidden Gem, and the facility where the prototype of a nodule collector vehicle is being built. The Hidden Gem is a 228-meter-long former drill ship and is currently undergoing key modifications to enable at-sea deployment through its existing moonpool of a 4.3-kilometer-long riser that would bring polymetallic nodules up from the seafloor. The Hidden Gem is expected to become the world’s first ship classed as a subsea mining vessel by the American Bureau of Shipping. Allseas engineers have also integrated a launch and recovery system for the twelve-meter-long nodule collector vehicle that would enable it to be deployed over the side of the vessel.\n\nBoth the Hidden Gem and the nodule collector vehicle are key components of the partnership’s efforts to responsibly recover polymetallic nodules from the ocean floor and lift them to the surface for transportation to shore for processing. Allseas current schedule has the Hidden Gem being deployed in the Clarion Clipperton Zone (CCZ) to undertake collection tests in mid-2022. The estimated in situ resource on the seafloor in the exploration contract areas held by TMC’s subsidiaries is sufficient for 280 million EVs – roughly the entire U.S. passenger vehicle fleet. The development of this resource offers an abundant, low-cost supply of critical raw materials for EV batteries and wiring including nickel, cobalt, copper and manganese, with an expected lower lifecycle ESG impact than conventiona...