Oliver Gunasekara Impossible Metals

1. © Copyright 2020-22, Impossible Metals Inc. All rights reserved.
Oliver.Gunasekara@ImpossibleMetals.com CEO & Co-Founder
Economically Viable Selective Harvesting &
Green Processing of Polymetallic Nodules

2. © Copyright 2020-22, Impossible Metals Inc. All rights reserved.
MISSION
‘To harvest and process critical battery metals from
the seabed, while protecting the environment'
VISION
‘Accelerating clean energy by delivering
the most sustainable battery metals’

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Hengjaya Nickel Mine Indonesian
ESG Impacts of Terrestrial Mining

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Renee (CSO) signed the Seabed Mining Science Statement
• Loss of species and populations as a result of destruction or elimination of habitat
• Production of large sediment plumes
• Interruption of ecological processes connecting midwater and benthic ecosystems
• Resuspension and release of sediment and toxins from dewatering discharge
• Noise pollution and impacts to marine species
• Impacts on carbon sequestration dynamics and deep ocean carbon storage
We are co-designing the collection system with a panel of marine scientists
See: https://impossiblemetals.com/sustainability/scientific-engagement/

5. © Copyright 2020-22, Impossible Metals Inc. All rights reserved.

6. © Copyright 2020-22, Impossible Metals Inc. All rights reserved.
Competition vs Impossible Metals
● Preserves seafloor, no sediment plumes
● Reliable & scalable - low downtime
● ~3 yr payback, Autonomous fleet
● Destroys habitat and biodiversity
● Reliability?, Downtime?, Incline <6%
● High CAPEX/OPEX, ~9 yr payback

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How to scale to 3M metric tons a year?
9,000 metric tons per day!
All the above is subject to change as we learn and update economic model
4 Ships
(14 day mission
LA to CCZ to LA)
90 AUV’s
(25 tons payload
each, 6 hour
mission time)
100 arms
(per AUV)

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Prototype (v3 AUV) Collection System
HDPE Frame
12 Thrusters
Battery Pack
Communications
and Electronics
Housings
4 Vessel
Buoyancy
Engine
Vision AI
System
Robotic Arm End effector
Hooper
Crane mount

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Vehicle Vision System (on board camera: seabed)

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11. © Copyright 2020-22, Impossible Mining Inc. All rights reserved.
LFP Gaining share
• Automotive EV industry is focused on removing Cobalt & Nickel
• LFP is an Iron based cathode which does not use Cobalt & Nickel
○ Has ~30% less energy density so ~30% less range
○ Tesla uses only LFP in all standard range vehicles (The majority)
○ LFP dominates in China the world's biggest EV market
○ New technology is closing the energy density gap
• If we do nothing much of the EV market will no longer need Co & Ni
○ Other markers still exists but revenue will be about 50%
• What should we do?
○ Actively promote the benefits of DSM to solve the current supply issues
○ Try to move as quickly as possible while still protecting the habitat

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Prototype/Pilot
(Series A)
Commissioning/
Operations
(Series B)
4Q23 2025 2026+
Mar 22
Proof Of Concepts
v0
Arm and Vision system
(in tow tank)
v4
Small 6km
depth vehicle
3 arms
v5
Full size 6km
depth vehicle
~100 arms
v6
Fleet of vehicles
mining
$1B Revenue
Demo
Date
Series Seed
v3
Small 25m
depth vehicle
1 arm
Nov 22
Our Roadmap (Subject to regulations in place)
What is
delivered in
this round

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Bio-Extraction Summary
• Naturally occurring process of bacterial respiration (not leaching)
• Discovered by Co-Founder Prof. Ken Nealson, patent pending
• Bacterial respiration liberates metals, yielding slurry of soluble
MnCl2
, FeCl2
, and chloride salts of nickel, copper and manganese
• Operating parameters - room temperature, neutral pH, fresh/saltwater
• Bacterial substrate/food source= organic carbon (e.g. food waste)
• Lab testing indicates high efficacy on polymetallic nodules (unweathered)
24 hour reaction Abiotic control

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Concept Flowsheet - Bioextraction

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Bringing Bioextraction to Market
2023
Large scale benchtop
studies / PMN pilot plant
Focus on achieving 1000x
scale in the laboratory,
followed by pilot plant
construction and feasibility
study
2024
Complete FS, pilot
plant for terrestrial ore
Completion of full scale
feasibility study for PMN
processing, execute
partnerships with PMN
contractors
Progress to pilot plant for
terrestrial ores
2025
Production scale
plant(s)
Production scale plants for
PMNs and/or terrestrial ores
(depending on permitting for
DSM projects) potentially
co-locating with battery
manufacturer in the USA
2022
Small scale benchtop
studies
Focus on optimization of
parameters and achieving
target recovery rates and
recovery durations

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Summary
● Much Less Cost
● Scalable and Reliable
● Preserve the habitat
● Invented a replacement for
Pyro & Hydro metallurgy
● Much better ESG & costs
We are still early, lots to do to prove it will all work
Looking for ‘Contractor’ partner(s) to test v4 AUV 4Q2023 on real nodule field

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Thank You
Q & A
PDF Slides
http://bit.ly/3VPmvZb