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The Metals Company and Allseas announce the success of the North Sea drive test for pilot nodule collector vehicles, Canadian Business Journal

  • Following a previous wet test at the port, an Allseas-designed pilot nodule collector vehicle was deployed from the Hidden Gem and unloaded to the seafloor in open ocean conditions.
  • We have successfully tested various important drive functions and confirmed that the collector can move back and forth in different directions at different speeds and move the nodule collector head up and down.
  • Allseas engineers have successfully tested the Dynamic Positioning System on the Hidden Gem and found that collectors can adjust the ship’s speed and bow orientation as they move across the seafloor.
  • Future testing at TMC’s NORI-D contract area will include the deployment of a 4 km long riser, an umbilical that provides power and control during seafloor operation, and a 500 m long flexible jumper hose that connects to collector vehicles. Expected to be included.

New York, March 31, 2022 (GLOBE NEWSWIRE) — TMC the metal company Inc. (Nasdaq: TMC) (“TMC” or “Company”), exploring the world’s largest source of estimated undeveloped and important battery metal Home, Announced Today The North Sea Drive Test Program for a robotic multi-metal baby boomer collector vehicle designed by our strategic partner and shareholder Allseas Group SA (“Allseas”) has been successfully completed.

During a driving test program conducted in the Dutch sector of the North Sea, collector vehicles designed by Allseas underwent extensive testing of critical mobility and showed that all systems were functioning. Allseas engineers cover a distance of 4,533 meters and drive collector vehicles back and forth in different directions at different speeds at their own pace. In addition, tests were conducted to raise and lower the vehicle’s adjustable collector head. This is another important feature.

“This North Sea driver’s license test is an important milestone not only to show that collectors can operate remotely in the open ocean, but also to operate in parallel with HiddenGem’s Dynamic Positioning System,” said Gerard Barron, CEO and Chairman. I am. Metal company. “Tests show that collectors have a very high level of accuracy control, which allows them to create and execute detailed mining plans that respect deep seafloor shallow surveys, sediment characteristics, and ecosystems. These exams prove that we always knew about Allseas and undertake all engineering tasks with meticulous attention to the highest level of success in the offshore industry. That’s why it’s included. “

With accurate positioning and coordinated movement of the collector vehicle Hidden treasure Essential for planned future offshore operations, engineers have successfully completed various tests on the vessel’s Dynamic Positioning system and confirmed that collectors can adjust speed and bow orientation as they move across the seafloor. did.

Earlier this month, TMC and Allseas announced the success of wet testing of multi-metal baby boom collector vehicles. Now that this latest system test is complete, Allseas engineers will begin preparing for a complete pilot baby boom collection test in the 8km2 section of NORI. -D contract area of ​​Clarion Clipperton Zone in the Pacific later this year. These tests are an integral part of the International Seabed Authority’s regulatory and permitting process, and the environmental impact data collected during and after this nodule collection test is the exploitation contract by Nauru Ocean, a wholly owned subsidiary of TMC. It forms the basis of the application. Resources Inc. (NORI).

Since 2019, Allseas and TMC have collaborated to develop a pilot system to responsibly collect non-adhered multi-metal nodules from the seafloor and lift them to the surface for transport to the coast. Nodules contain high quality nickel, manganese, copper and cobalt. These are the key metals needed to build batteries for electric vehicles and renewable energy technologies.

The development of technology to collect multi-metal nodules began in the 1970s when oil, gas and mining majors such as Shell, Rio Tinto (Kenecot) and Sumitomo succeeded in pilot testing at CCZ and recovered more than 10,000 tons of baby boomers. It started first. In the decades since then, the ISA was established to develop a regulatory framework to control mineral extraction on the high seas, but technological development efforts include scaling of proven nodule collection technology and seafloor turbulence. We have mainly focused on optimization to minimize the impact on the environment.

About The Metals Company

TMC the metal company Inc. (The Metals Company) is an explorer of battery metals that is less affected by multi-metal nodules on the ocean floor and has two missions: (2) Accelerate the transition to a circulating metal economy. Through its subsidiaries, the company holds exploration rights to three multi-metal baby boomer contract areas in the Clarion Clipperton Zone of the Pacific Ocean, regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. For more information, please visit www.metals.co.

About Allseas

Allseas is a world-leading contractor in the offshore energy market, with dynamism, rapid progress and a pioneering spirit at its core. Allseas specializes in the installation of offshore pipelines, heavy goods transportation and undersea construction. With more than 4000 employees worldwide, the company operates a versatile fleet of specialized large lifts, pipelines and support vessels designed and developed in-house.

For more information on Allseas, please visit www.allseas.com.

More information

Media | media@metals.co
Investor | Investor@metals.co

Description of future prospects

The specific statements contained in this press release are not historical facts, but are forward-looking statements aimed at safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements usually include “believe,” “may,” “do,” “estimate,” “continue,” “expect,” “intend,” and “expect.” “Should”, “do”, “plan”, “predict”, “potential”, “see”, “seek”, “future”, “outlook”, and future events and trends Forecast or indicate, or similar representations that are not historical statements, including those related to future testing or future offshore operations in TMC’s NORI-D contract area. These forward-looking statements carry significant risks and uncertainties, and actual results may differ materially from those described in the forward-looking statements. Most of these factors are beyond the control of TMC and are difficult to predict. Factors that can make such a difference include, but are not limited to: Allseas’ ability to perform a complete pilot nodule collection test in the Clarion Clipperton Zone. TMC’s ability to reach a final agreement with Allseas on the proposed strategic alliance to develop and operate a commercial collection system under conditions and conditions substantially similar to those set forth in the non-binding condition sheet. .. The pilot collection test completed successfully. TMC’s ability to obtain exploitation contracts for that area within the CCZ. Regulatory uncertainty and the impact of government regulation and political instability on TMC’s resource activities. Changes to any of the laws, rules, regulations, or policies to which the TMC applies. The impact of widespread and costly environmental requirements on the operation of TMC. Environmental Debt; Impact of multi-metal nodule collection on the biodiversity of CCZ and the recovery rate of affected ecosystems. TMC’s ability to develop sufficient grades or quantities of minerals to justify commercial activity. Lack of development of multi-metal nodule deposits on the seafloor; uncertainties in mineral resource calculations from specific contract areas and estimates of grade and quality of multi-metal nodule deposits. Risks associated with natural disasters; Uncertainty regarding the special treatment and treatment of multimetal nodules that the TMC may recover. Risks associated with collective, development and processing operations. Fluctuations in shipping costs; equipment testing and manufacturing. Risks associated with TMC’s limited operational history. The influence of the COVID-19 pandemic. Risks related to TMC’s intellectual property. And other risks and uncertainties. This includes item 1A “Risk Factors” in TMC’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, submitted by TMC to the Securities and Exchange Commission (“SEC”) on November 15. ”Is included. , 2021, and future filings with TMC to other SECs. The TMC warns that the list of factors mentioned above is not exclusive. TMC warns readers not to place undue reliance on forward-looking statements that are stated only as of the date they were created. The TMC publicly publishes updates or revisions to its forward-looking statements to reflect changes in its expectations or the events, conditions, or circumstances underlying such statements, except where necessary. We do not take or accept any obligations or promises. By law.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/daa001c7-4980-4269-b505-016453f1695d.


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The Metals Company and Allseas announce the success of the North Sea drive test for pilot nodule collector vehicles, Canadian Business Journal

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