TMC Forges a New EV Supply Chain at the Bottom of the Sea

TMC the metals company has signed a definitive contract with offshore engineering firm Allseas to deploy the world's first commercial deep-sea polymetallic nodule collection system. The partnership de-risks TMC's extraction process, with Allseas funding a significant portion of development costs. NOAA regulatory approval and a planned onshore processing hub in Brownsville, Texas, position TMC to address critical mineral supply chain security for EV batteries, though the company remains pre-revenue with significant execution risks.