TMC The Metals Company Inc. (NASDAQ: TMC) has announced the appointment of Steve Jurvetson to its board of directors as Vice Chairman and special advisor to the CEO. Jurvetson, a renowned Silicon Valley investor, is known for his early-stage venture investments in impactful technology companies. He co-founded Future Ventures in 2018 to focus on purpose-driven entrepreneurs with unique ideas.
The company 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.
In terms of value creation, Jurvetson's investments represent over $800 billion in aggregate value creation. His expertise from being a former long-standing board member of Tesla and a current board member of SpaceX is expected to guide TMC through its next phase of growth.
TMC's Chairman and CEO, Gerard Barron, expressed his excitement about Jurvetson's appointment, highlighting his visionary nature and experience in helping companies navigate through high-uncertainty industry startup phases.
Jurvetson commented on his excitement to join TMC's board at a crucial point in society's transition to cleaner sources of energy and emphasized the environmental benefits of collecting deep-seafloor nodules for metals such as nickel, cobalt, copper, and manganese.
The company is dedicated to supplying metals for the global energy transition with minimal negative impacts on the planet and people. It also aims to trace, recover, and recycle the metals supplied to create a metals commons for perpetuity.
The market has reacted to these announcements by moving the company's shares -2.1% to a price of $1.83. If you want to know more, read the company's complete 8-K report here.
