The successful capital raise puts TechMet on track to exceed a billion-dollar valuation in the next few months
The fresh $200 Million in equity will be allocated to enhance production, refining, and recycling projects that contribute to the clean energy transition. Over the past year, TechMet has invested over $180 million in vital minerals projects worldwide. The company’s focus spans the entire critical minerals value chain, encompassing mining, processing, recycling, and battery component manufacturing for clean energy technologies.
The US International Development Finance Corporation (DFC) holds a significant stake in the company, having initially invested in 2020. Also Participating in this funding round was Swiss-based Mercuria Energy, a major energy and commodity trading group. London’s Lansdowne Partners also increased its investment, while notable new investors like US-based S2G Ventures, part of Builders Vision, also joined.
TechMet has been acknowledged by both the US President and Vice President for its pivotal role as a top critical minerals firm in the global fight against climate change.
TechMet Founder, Chairman and CEO, Brian Menell, said: “We are grateful that we have such a strong shareholder base, and the US Government’s direct backing, as we deliver on our mission to build environmentally responsible supply chains for the metals needed for the clean energy revolution.”
Also, Admiral Mike Mullen (ret.), Chairman of TechMet’s Advisory Board and former Chairman of the US Joint Chiefs of Staff, said: “TechMet’s rapid progress in the face of adverse market conditions, is a testament to the team’s vision and focus. As national security challenges escalate, supply of critical metals is a crucial area of concern. Nations and companies that act quickly and imaginatively to secure adequate supplies will have a great competitive advantage over the next decade.”
About TechMet Limited
TechMet Limited is a leading technology metals investment company with a portfolio of assets that responsibly produce, process, and recycle the metals that are critical to the global energy transition and the electric vehicle revolution.
TechMet’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 $200 million fundraising round follows a maiden dividend paid to shareholders last year.
Given the extent of investor appetite and the range of compelling opportunities to deploy further capital, TechMet is expecting to launch a further fundraising round in Q4 this year.
For more information, visit: www.techmet.com
