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TechMet closes its second funding round at $120M


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.
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DUBLIN, LONDON and WASHINGTON, April 16, 2021 /PRNewswire/  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. ....

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TechMet Closes $120M Second Funding Round


TechMet, a Dublin, Ireland-based private company that 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, closed its second-round equity fundraising, at $120m.
TechMet’s largest shareholders now include:
the US International Development Finance Corporation (DFC – the US Government’s development finance institution);
Lansdowne Partners;
TechMet Chairman and CEO, Brian Menell.
Founded in 2017 by Menell, a British/South African metals industrialist, TechMet is building projects that produce, process and re-cycle “technology metals” critical to EVs, renewable energy systems and energy storage.
The company’s target metals include: lithium, cobalt, nickel, rare earth metals, tin, tungsten, and vanadium. ....

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