Vancouver, BC – March 22, 2017 - DeepGreen Resources Inc. (“DeepGreen”) is pleased to announce its partnership with Maersk Supply Service A/S (“Maersk Supply Service”) to recover polymetallic nodules from the Clarion Clipperton Zone of the Pacific Ocean. The deepsea metals industry is an opportunity for developing a more environmentally and societally attractive way to produce cleaner base and strategic metals.
DeepGreen is advancing the NORI Area D Project (“NORI D Project”) through its wholly owned subsidiary Nauru Ocean Resources Inc. (“NORI”). The NORI D Project is conducted in cooperation with the Republic of Nauru and advancing the project involves completion of key environmental and engineering milestones. As part of the NORI D Project, Maersk Supply Service has committed one Anchor Handler Tug Supply (“AHTS”) Vessel and one Subsea Support Vessel (“SSV”) for a total of five marine campaigns (the “Campaigns”) during the period 2017 through 2019. The AHTS vessel will support environmental studies of the seabed reaching a water depth of 4000+ meters and the SSV will be utilizing its deck capacity as well as crane capabilities for testing the nodule harvester prototype. Maersk Supply Service’s service contribution of approximately US$25 million will convert to DeepGreen common shares.
During the Campaigns, DeepGreen’s offshore team will undertake baseline studies required to complete a comprehensive Environmental Impact Assessment. DeepGreen will also collect polymetallic nodules for metallurgical test work and undertake trials of its nodule harvesting technology. The environmental studies of the seabed will make use of Maersk Supply Service’s specialized assets built for deep water operations and expertise for ultra-deep water subsea operations.
Steen S. Karstensen, Chief Executive Officer of Maersk Supply Service, states, “Maersk Supply Service appreciates this unique opportunity to partner with DeepGreen Resources. We believe DeepGreen is well positioned in the seafloor minerals industry and I am confident that Maersk Supply Service’s deep-water offshore expertise and Integrated Solutions services will enable us to significantly contribute to the success of this endeavour.”
“DeepGreen has secured a strong offshore partner that shares our vision for the recovery of cleaner base and strategic metals from polymetallic nodules in the Clarion Clipperton Zone,” said Keith Calder, Chief Executive Officer, DeepGreen Resources Inc.
DeepGreen Resources Inc. is a private Canadian deepsea minerals company that is pursuing the commercial harvesting of high grade seafloor polymetallic nodules in the Pacific Ocean. DeepGreen is pursuing two projects in international waters through its wholly owned subsidiaries, Nauru Ocean Resources Inc. and DeepGreen Engineering Pte. Ltd. DeepGreen’s patented processing technology maximizes metal recovery from polymetallic nodules while minimizing waste. DeepGreen believes that the seafloor minerals industry provides a more environmentally and societally attractive way to produce cleaner base and strategic metals. Learn more about DeepGreen at deepgreenresources.com
About Maersk Supply Service A/S
Maersk Supply Service provides marine services and integrated solutions to the energy sector worldwide. Maersk Supply Service is the market leader in deep-water services such as anchor handling in ultra-deep water, mooring installations, rig moves and transport of equipment to drilling rigs and production units. Maersk Supply Service employs an international staff of around 1,100 offshore and 200 onshore people. Headquartered in Lyngby, Denmark, Maersk Supply Service is represented globally with offices in Aberdeen, St. John's, Rio de Janeiro, Lagos, Luanda, Singapore and Perth. Maersk Supply Service is a part of the stand-alone Energy division of A.P. Møller – Mærsk A/S. A.P. Møller – Maersk A/S employs roughly 88,000 employees across operations in 130 countries.
For further information, please contact:
Keith Calder, Chief Executive Officer
T +1 604 428 9822
Forward Looking Statement
Certain statements included in this news release containing words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook and statements relating, but not limited, to the environmental and societal benefits of producing cleaner base and strategic metals, the scale and nature of the multi-metal deposits, completion of key environmental and engineering milestones, completion and timing of five marine cruises, the collection of polymetallic nodules for metallurgical test work, Maersk Supply Service’s contribution, the conversion to common shares, and the feasibility of recovering seafloor nodules, may constitute forward looking statements or forward looking information under applicable securities legislation.
These forward looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied, including, without limitation, the following: changes to the costs of the marine cruises; amendment or termination of the marine cruises; unable to realize the benefits from Maersk Supply Service’s technical support as described herein; failure to complete baseline studies, collect polymetallic nodules, maximize metal recovery, produce cleaner base and strategic metals and undertake trials of DeepGreen’s nodule harvesting technology in a timely manner (or at all). Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties.
The forward looking statements or information contained in this news release are made as of the date hereof and DeepGreen undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this news release are expressly qualified by this cautionary statement.