TechMet, a Dublin, Ireland–based global critical minerals investment company, closed its latest $200m equity fundraising round.
Alongside TechMet Founder, Chairman and CEO, Brian Menel, and his management team, TechMet’s largest shareholders are the DFC and Swiss-based Mercuria Energy, one of the world’s largest energy and commodity trading groups, both of whom participated in this funding round. London-based Lansdowne Partners also increased its investment, and was joined by a number of significant new investors including US-based S2G Ventures, the direct investment team of Builders Vision.
The latest funding is being deployed across TechMet’s existing portfolio of ten assets which are expanding extraction, processing, recycling and manufacturing capacity.
Founded in 2017, TechMet is a permanent capital vehicle focused on building businesses across the critical minerals value chain from mining and processing to recycling and battery component manufacturing. TechMet develops environmentally and socially responsible projects which are essential for the production of clean energy technologies.
Last week, the company, the UK Infrastructure Bank (“UKIB”) and The Energy & Minerals Group (“EMG”) announced a landmark $67m investment in Cornish Lithium to develop a UK supply of lithium for EV battery production and battery storage solutions.
In the last 12 months, TechMet has invested more than $180 million into critical minerals companies around the world, including Brazilian Nickel, US Vanadium, Rainbow Rare Earths, TechMet-Mercuria, REEtec, Xerion Advanced Battery Corp, Energy Source Minerals, Momentum Technologies, and Trinity Metals.
The company’s current portfolio includes a diverse group of projects across the supply chain for the critical minerals needed for clean energy technologies, including: both hard rock Lithium mining and Direct Lithium Extraction (DLE) projects in the US and Europe; Nickel and Cobalt extraction and processing in South America; Rare Earth extraction and processing in Southern Africa and the EU; Tin, Tungsten and Lithium mining in East Africa; next generation cathode manufacturing and Lithium-ion battery recycling technologies in the US; and the largest high purity Vanadium chemical producer in North America.
Headquartered in Dublin, with an office in London, TechMet’s $200m fundraising round follows a maiden dividend paid to shareholders last year.
FinSMEs
15/08/2023