CISION PR NEWSWIRE: EnergySource Minerals Raises Strategic Investment from Schlumberger and TechMet to Scale Lithium Extraction Technology

The new investment partnership accelerates development of the most advanced and viable lithium extraction platform, known as ILiAD, which is already in deployment and operation.

EnergySource Minerals today announced a new round of investment led by Schlumberger New Energy and TechMet Ltd. The Schlumberger New Energy investment includes a strategic partnership to accelerate the deployment of the ILiAD lithium extraction platform and integrate it into the front end of the process used by NeoLith Energy, a Schlumberger New Energy venture. The platform has been piloted at demonstration scale for over 6 years on a variety of real-world brines. Schlumberger will scale up testing at NeoLith Energy's pilot plant in Nevada and deploy it at a global scale.

"As the world projects a significant supply shortage of various critical minerals such as lithium, the time is particularly ripe for our Schlumberger and TechMet partnership," noted Eric Spomer, EnergySource Minerals President and CEO. "Simply put, we have found a way to make battery material production more efficient, economical, and sustainable. We continue to push the envelope to reduce environmental impact, which is really the obligation of the industry."

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MINING.COM: Cornish Lithium gets $24 million to develop UK assets

Cornish Lithium, the start-up hoping to lead the development of an industry for the battery metal in the UK, has secured up to £18 million ($24 million) from metals-focused investment company TechMet to help fast-track its lithium projects in the homeland.

The exploration company, which is focused on the environmentally sustainable extraction of lithium from geothermal waters and hard rock in the historic mining district of Cornwall, said the funds injection was “transformational.”

Cornish Lithium said the investment will allow it to accelerate the construction of a demonstration plant for lithium processing, a feasibility study for its Trelavour project, and conduct additional drilling.

This is the first institutional investment in Cornish Lithium, which has previously used crowdfunding to raise new capital.

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USA TODAY: Ahead of Biden’s climate change summit, America is losing vital ground on clean energy

To remain a leader in the energy and automotive arenas, we must secure adequate supplies of metals needed to power a new industrial revolution.

To win the battle against climate change, the world must undergo a dramatic shift in how we produce and use energy. The technologies enabling this transition require an increased supply of critical materials on an unprecedented scale.

If the United States is to remain a leader in the energy and automotive arenas, we must secure adequate supplies of the metals necessary to power the 21st century’s industrial revolution.

On Thursday, President Joe Biden will welcome as many as 40 world leaders to the White House for an unprecedented summit on climate change. High on the agenda are two key themes: Spurring transformational technologies that can help reduce emissions, and mobilising public and private sector finance to drive the transition to net-zero emissions.

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TECHMET PRESS RELEASE: 15 April 2021

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TechMet closes its second funding round at $120M

  • TechMet the private strategic metals company backed by the US DFC, closes its second equity funding round with a 50% oversubscription.
  • Largest shareholders now include DFC, Lansdowne Partners and Mercuria.

15th April 2021, Dublin, London, Washington D.C. - TechMet has announced the closing of its second-round equity fundraising at $120m. The close represents a 50% oversubscription on its $80m target.  The final $60m was raised at a 32% increase over the company’s initial Round 2 price, and a 140% increase over its Round 1 price.

TechMet 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.

TechMet’s largest shareholders now include the US International Development Finance Corporation (DFC – the US Government’s development finance institution); Lansdowne Partners (one of London’s foremost investment institutions); and Mercuria (the global energy trading company); together with TechMet Chairman and CEO, Brian Menell.

The critical metals company was founded in 2017 by British/South African metals industrialist, Brian Menell, with the aim of developing assets that produce metals for which global demand will vastly outweigh supply as the world moves to clean energy technologies.  Its 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.

Founder, Chairman and CEO, Brian Menell, stated:

The closure of this funding round marks a significant milestone for TechMet and its oversubscription is a clear reflection of our great projects and of the value the team has created in a short time. These funds give us a significant amount of firepower to expand our operations and add to our portfolio.

We are fortunate to be at an inflection point in history of both enormous opportunity and enormous challenge. We are at the beginning of an epic supply-demand dislocation for the metals that go into EVs and renewable energy systems, and our industry must completely transform itself in order to supply these strategic materials in the quantities necessary, and with the required high Environmental, Social and Governance standards and low carbon footprint, to ensure the success of a clean energy future.

TechMet’s mission is to build ethical, independent, and environmentally sound supply chains for the metals that are needed to ensure the success of this 21st Century clean energy and EV revolution.

Former chairman of the US Joint Chiefs of Staff, and Chairman of TechMet’s Advisory Board, Admiral Mike Mullen, commented:

“I applaud TechMet’s achievement in closing this round of funding - it is a testament to the team’s foresight, positioning, and ability.  As the world adopts new technologies, the supply of critical metals becomes a more pressing national security challenge for the US and its allies. TechMet’s achievements and credibility now firmly position it to help to deal with these challenges.”

Following the success of this round, TechMet 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.


About TechMet

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 target metals include: lithium, cobalt, nickel, rare earth metals, tin, tungsten, and vanadium.  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.

Media Contacts

The PR Office: Marc Cohen & Tom Gilby

Tel: +44 (0) 7741 052 506 or +44 (0) 7979 083 456
Email: TechMetPRO@theproffice.com

BERNSTEIN EV CONFERENCE: TechMet – Chairman & CEO, Brian Menell

AllianceBernstein EV Conference

Good morning or good afternoon, wherever you're calling from I'm Mark Newman from Bernstein, and this is electric revolution US Summit. And we're joined today with our next special guest is Brian Menell. He is the CEO of TechMet. 

Covering global metals and mining is going to be joining this session to help me on the Q and A with Brian and just a brief introduction of Brian. Brian is CEO tech Matt has been in the mining industry for over 25 years as an expert in this area and TechMet, which is the CEO of is a company that is investing in technology metals.

Excerpt from Mark Newman during the conference.

Sourced from the Bernstein EV Conference and you read more here. And use the passcode 43121025 to gain access to the minutes and archive.