IPO Edge, in partnership with The Palm Beach Hedge Fund Association, a Florida trade association for financial professionals, hosted a Webinar on Tuesday, July 21 at 12pm EST with TechMet Ltd – Investing in Metals to Fuel the Technology of the Future.
The Webinar featured TechMet Chairman & CEO Brian Menell, who discussed how so-called technology metals have become the “oil of the 21st Century” as they facilitate wide adoption of renewable energy and electric vehicles. TechMet has operations in Europe, Africa, and the Americas that produce and recycle technology metals including lithium, cobalt, nickel, vanadium, tin, tungsten, along with rare earth elements.
Electric vehicles made by the likes of Tesla, Inc. and Nikola Corporation, which could contain TechMet’s metals, have become increasingly important in the investment community. Corporate conference call mentions, global search volume and Google Trends for “electric vehicle” are near all-time highs and Tesla’s market capitalization is higher than Ford and General Motors combined, according to Sentieo, an AI-enabled research platform. “All of these are evidence that EVs are moving front and center in corporate conversations, consumer conversations, and in the markets,” said Nick Mazing, Director of Research at Sentieo.
TechMet is not an investor in unproven mines, but rather an operator of five companies each poised to generate revenue and positive cash flow in the near term. By 2024, TechMet forecasts $107 million of Ebitda, based on conservative metal prices and production forecasts.
The company is in the process of completing an $80 million equity fundraising. It has already secured commitments of $45 million, including $20 million that has already closed and $25 million from the U.S. government through the U.S. International Development Finance Corp. that is expected to close this summer.
TechMet is backed by a world class team of management and senior advisors. The company’s Advisory Board Chairman is Admiral Michael Mullen, former Chairman Joint Chiefs of Staff under U.S. Presidents Bush and Obama, who is also on the boards General Motors and Sprint Nextel Corp.
Mr. Menell discussed:
- The need to diversify sources of metals away from China
- Demand for electric vehicles requiring technology metals
- The impact of environmental, social and governance (ESG) issues on metal demand
- Future accretive acquisitions
- The path to liquidity for investors by 2024
About Brian Menell:
Mr. Menell has over 25 years of owning, developing and operating natural resource and mining projects across 18 sub-Saharan countries, the CIS, and Canada. The Menell family company, the Anglovaal Group, has been an important player in the African mining and industrial scene for 80 years. His experience includes:
- CEO of the Kemet Group – developing natural resource projects across sub-Saharan Africa and advising various African Governments on mining policy and M&A activity.
- Executive Director of Anglovaal Mining – developed the Chambishi Cobalt smelter and refinery, and the Nkomati Nickel Mine together with numerous other metals projects. Sold the company to Anglo American in 2001.
- DeBeers – executive positions in London, Antwerp, Windhoek, and Johannesburg.
- A (Hon.) Political Science & Economics, University of Pennsylvania (1984-1988).
John Jannarone, Editor-in-Chief