The Metals Company (TMC), established in 2011, specializes in the sustainable extraction of polymetallic nodules from the ocean floor. The company focuses on providing essential metals for electric vehicle batteries and renewable energy technologies. Their operations center on the Clarion Clipperton Zone of the Pacific Ocean, where they extract nickel, copper, cobalt, and manganese from seafloor nodules. TMC’s approach aims to minimize environmental impact while meeting the growing demand for battery materials, offering an alternative to traditional land-based mining methods. Their business model emphasizes sustainable resource management and circular material use, supporting the transition to clean energy technologies.
Battery Technology
TMC’s contribution to battery technology centers on producing high-grade metals essential for electric vehicle batteries and energy storage systems. Their processing methods transform polymetallic nodules into battery-grade materials, including:
- Nickel sulfate for enhanced battery energy density
- Cobalt sulfate for cathode stability and performance
- Copper for battery connectors and electrical components
- Manganese for battery cathode materials and steel production
The company’s metallurgical process operates without generating solid processing waste, setting new standards for metal extraction efficiency. Their method produces battery-grade chemicals through a simplified process compared to traditional mining, requiring fewer steps and reducing environmental impact. This approach yields materials meeting strict specifications for electric vehicle battery manufacturing, with particular emphasis on nickel-rich cathode chemistries that enhance EV range and performance.
Recent Projects
In 2024, TMC advanced several significant initiatives. The company submitted plans for its NORI subsidiary’s exploitation contract application to the International Seabed Authority, scheduled for June 27, 2025. TMC also initiated a pre-feasibility study for a commercial processing plant in India, designed to convert nodules into battery materials. Their stock performance showed notable growth, with gains up to 8.9% in early 2025, supported by Alliance Global Partners’ “Buy” rating and a $3.75 price target.
Investors
TMC maintains support from 93 institutional investors, including prominent financial institutions such as First Manhattan Co, Baird Financial Group, and Susquehanna International Group. Other major stakeholders include Bank of Montreal, Toroso Investments, and Geode Capital Management. The company’s investor base expanded following its merger with Sustainable Opportunities Acquisition Corporation in 2021, which led to its current structure under CEO Gerard Barron’s leadership.
Business Details
Location: Vancouver, Canada
Website: https://metals.co
LinkedIn: https://www.linkedin.com/company/18671150
