DeepGreen went public via a SPAC merger with Sustainable Opportunities Acquisition in a $2.9bn deal.

DeepGreen, a developer of lower-impact battery metals from unattached seafloor polymetallic nodules, went public via a SPAC merger with Sustainable Opportunities Acquisition in a $2.9bn deal. “Sourcing battery metals is the biggest hurdle facing the clean energy transition, and the pipeline of new mining projects on land is insufficient to meet rising demand. We looked at over 100 companies, many of them in the EV and renewable energy space. DeepGreen stands above the rest. It offers a real, scalable solution to the raw materials problem, at a low production cost and with a significant reduction in the ESG footprint of metals. Assuming full-scale production, we expect The Metals Company to be among the lowest cost nickel producers in the world," Scott Leonard, SOAC CEO.