The Metals Company Welcomes Prominent Sustainability Strategist Brendan May to its Board of Directors
June 03 2024 - 8:00AM
TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”),
an explorer of lower-impact battery metals from seafloor
polymetallic nodules, today announced the appointment of Brendan
May to its Board of Directors as it seeks to harness the potential
of deep-seafloor polymetallic nodules for the energy transition and
wider global development.
As a former Chief Executive of the Marine Stewardship Council
(MSC) and European Chairman of the Rainforest Alliance, Mr. May has
spent over two decades at the forefront of sustainability
challenges in globally significant ecosystems. In 2010, he formed
renowned global sustainability consultancy, Robertsbridge, whose
counsel has been sought by leading companies and NGOs around the
world.
Gerard Barron, CEO & Chairman of TMC said: “We are thrilled
to have Brendan join the Board. His track record speaks for
itself—Brendan does not shy away from taking on some of the most
difficult sustainability challenges, building bridges between
environmental NGOs and companies, and finding pragmatic paths
toward better sustainability outcomes. In my experience, Brendan is
unafraid to challenge the premises behind some of the environmental
movement’s positions and, equally, challenge some of the positions
taken by TMC’s management. We welcome and look forward to his
contributions as a TMC Board Director.”
Mr. May commented: “As we grapple with the trade-offs required
to decarbonize the global economy, a broad range of opinions exist
on the harvesting of nodules. The issues are complicated, nuanced
and polarizing but, since first meeting TMC’s management team, I
have been consistently impressed by their commitment to
transparency, willingness to engage their most hostile critics, and
their significant investments in ocean science, which are helping
to build a far more detailed and data-driven picture of the actual
impacts of this industry. Already, I have found many opportunities
for meaningful dialogue and discussion with thoughtful and
pragmatic environmentalists, policy makers and scientists on this
topic. While some advocacy groups continue to voice their concerns,
I strongly urge people to engage with the actual data, which should
always be the north star of any serious attempt to solve
environmental challenges.”
The appointment of Mr. May further strengthens TMC’s Board as it
seeks to transition into commercial production while global
policymakers increasingly focus on the potential of deep-seafloor
nodules to reduce the lifecycle planetary and human costs of
land-based sources of the metals that underpin the energy
transition and global development. In April, the Company announced
that renowned Silicon Valley investor and former long-serving Board
member of Tesla and current Board member of SpaceX, Steve
Jurvetson, had joined its Board as Vice Chairman and Special
Advisor to the CEO.
About The Metals Company The Metals Company is
an explorer of lower-impact battery metals from seafloor
polymetallic nodules, on a dual mission: (1) supply metals for the
global energy transition with the least possible negative impacts
on planet and people and (2) trace, recover and recycle the metals
we supply to help create a metals commons that can be used in
perpetuity. The Company through its subsidiaries holds exploration
and commercial rights to three polymetallic nodule contract areas
in the Clarion Clipperton Zone of the Pacific Ocean regulated by
the International Seabed Authority and sponsored by the governments
of Nauru, Kiribati and the Kingdom of Tonga. More information is
available at www.metals.co.
Contacts Media | media@metals.co Investors |
investors@metals.co
Forward Looking StatementsThis press release
contains “forward-looking” statements and information within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements may be identified by words such as “aims,”
“believes,” “could,” “estimates,” “expects,” “forecasts,” “may,”
“plans,” “possible,” “potential,” “will” and variations of these
words or similar expressions, although not all forward-looking
statements contain these words. Forward-looking statements in this
press release include, but are not limited to, statements with
respect to Mr. May’s ability to contribute to the Company’s
sustainability objectives and commercialization of its business,
the increasing adoption of electric vehicles and alternative energy
resources, the increasing focus of industry stakeholders in
securing critical metals, the potential of deep-sea polymetallic
nodules for the energy transition and wider global development, and
the ability of the Company to effectively and efficiently collect,
process and transport lower-impact battery metals from seafloor
polymetallic nodules. The Company may not actually achieve the
plans, intentions or expectations disclosed in these
forward-looking statements, and you should not place undue reliance
on these forward-looking statements. Actual results or events could
differ materially from the plans, intentions and expectations
disclosed in these forward-looking statements as a result of
various factors, including, among other things: the Company’s
strategies and future financial performance; the ISA's ability to
timely adopt the Mining Code and/or willingness to review and/or
approve a plan of work for exploitation under the United Nations
Convention on the Laws of the Sea; the Company’s ability to obtain
exploitation contracts or approved plans of work for exploitation
for its areas in the Clarion Clipperton Zone; regulatory
uncertainties and the impact of government regulation and political
instability on the Company’s resource activities; changes to any of
the laws, rules, regulations or policies to which the Company is
subject, including the terms of the final Mining Code, if any,
adopted by ISA and the potential timing thereof; the impact of
extensive and costly environmental requirements on the Company’s
operations; environmental liabilities; the impact of polymetallic
nodule collection on biodiversity in the Clarion Clipperton Zone
and recovery rates of impacted ecosystems; the Company’s ability to
develop minerals in sufficient grade or quantities to justify
commercial operations; the lack of development of seafloor
polymetallic nodule deposit; the Company’s ability to successfully
enter into binding agreements with Allseas Group S.A. and other
parties in which it is in discussions, if any; uncertainty in the
estimates for mineral resource calculations from certain contract
areas and for the grade and quality of polymetallic nodule
deposits; risks associated with natural hazards; uncertainty with
respect to the specialized treatment and processing of polymetallic
nodules that the Company may recover; risks associated with
collective, development and processing operations, including with
respect to the development of onshore processing capabilities and
capacity and Allseas Group S.A.’s expected development efforts with
respect to the Project Zero offshore system; the Company’s
dependence on Allseas Group S.A.; fluctuations in transportation
costs; fluctuations in metals prices; testing and manufacturing of
equipment; risks associated with the Company’s limited operating
history, limited cash resources and need for additional financing;
risks associated with the Company’s intellectual property; Low
Carbon Royalties’ limited operating history and other risks and
uncertainties, any of which could cause the Company’s actual
results to differ from those contained in the forward-looking
statements, that are described in greater detail in the section
entitled “Risk Factors” in the Company’s Annual Report on Form 10-K
and subsequent Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission (SEC), including the Company’s
Annual Report on Form 10-K for the year ended December 31, 2023
filed with the SEC on March 25, 2024. Any forward-looking
statements contained in this press release speak only as of the
date hereof, and the Company expressly disclaims any obligation to
update any forward-looking statements contained herein, whether
because of any new information, future events, changed
circumstances or otherwise, except as otherwise required by
law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/622ca0c9-044f-44f7-abda-f3ce5c979839
TMC the Metals (NASDAQ:TMC)
Historical Stock Chart
From Jul 2024 to Aug 2024
TMC the Metals (NASDAQ:TMC)
Historical Stock Chart
From Aug 2023 to Aug 2024