Transocean Ltd. has agreed to invest in Global Sea Mineral Resources NV, contributing a drillship and cash towards the exploration of deep-sea polymetallic nodules critical for renewable energy.
Target Information
Global Sea Mineral Resources NV (GSR), a subsidiary of DEME Group NV, is engaged in deep-sea mineral exploration, focusing on the development of polymetallic nodules. These nodules are rich in critical metals essential for the renewable energy sector, such as cobalt, nickel, copper, manganese, and rare earth elements. GSR is considered a leading developer in the technology for collecting these valuable nodule resources.
Transocean Ltd. has entered a partnership with GSR by agreeing to invest in GSR in exchange for a non-controlling stake. This investment includes the contribution of the stacked drillship Ocean Rig Olympia to support GSR's exploration efforts, alongside a nominal cash investment and anticipated engineering services in-kind.
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Industry Overview
The global demand for critical minerals is on the rise, particularly due to the growing transition to renewable energy sources. Polymetallic nodules found on the
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