TechMet, a Dublin, Ireland-based private company that invests in projects across the supply chain of the metals critical to electric vehicles and renewable energy systems that form the basis of the green industrial revolution, closed its second-round equity fundraising, at $120m.
TechMet’s largest shareholders now include:
- the US International Development Finance Corporation (DFC – the US Government’s development finance institution);
- Lansdowne Partners;
- Mercuria; and
- TechMet Chairman and CEO, Brian Menell.
Founded in 2017 by Menell, a British/South African metals industrialist, TechMet is building projects that produce, process and re-cycle “technology metals” critical to EVs, renewable energy systems and energy storage.
The company’s target metals include: lithium, cobalt, nickel, rare earth metals, tin, tungsten, and vanadium.
TechMet’s assets include:
- Li-Cycle Corp – the lithium-ion battery recycling company which recently merged with Peridot SPAC;
- Brazilian Nickel – the mining and extraction company producing nickel and cobalt suitable for EV batteries;
- US Vanadium – which produces vanadium products suitable for redox flow batteries; and
- Tinco – a portfolio of producing tin and tungsten mines.
Following this round, the company is planning a third round equity raising in Q2/Q3 2021 to secure an additional +/- $250m to further scale its core operations and expand its portfolio.
TechMet is a private company building world class projects that produce, process and re-cycle “technology metals” critical to EVs, renewable energy systems and energy storage. TechMet’s core investments include:
- Brazilian Nickel PLC – nickel and cobalt production in Brazil
- Li-Cycle – lithium-ion battery recycling in Canada and the US.
- US Vanadium – vanadium specialty chemicals production in Arkansas (USA).
- Tinco – the largest tin and tungsten mines in Rwanda
TechMet also has an interest in a producing Rare Earths metals project and is developing TechMet Ventures to invest in new opportunities across the supply-chain.