What TechMet-Mercuria does

TechMet-Mercuria is a private critical minerals investment company founded in 2017 by Brian Menell and headquartered in Dublin, Ireland. It operates as a permanent capital holding vehicle with controlling or dominant minority positions in 10 critical minerals assets spanning four continents (North America, South America, Europe, and Africa) covering lithium, nickel, cobalt, rare earths, vanadium, tin, tungsten, and gallium. The platform includes operating and development assets such as Brazilian Nickel (heap-leach nickel/cobalt in Piauí, Brazil, targeting ~27,000 tpa nickel and ~900 tpa cobalt), EnergySource Minerals (ILiAD direct lithium extraction at the Salton Sea, ~20,000 tpa lithium hydroxide), Cornish Lithium (UK hard rock and brine), US Vanadium (high-purity vanadium chemicals from petroleum and steel waste streams), REEtec (720 tpa NdPr oxide separation in Norway, with ~90% lower CO2 emissions), Rainbow Rare Earths (Phalaborwa gypsum tailings, South Africa), Trinity Metals (tin and tungsten in Rwanda), Momentum Technologies (Oak Ridge-licensed MSX battery and magnet recycling at 99.9%+ purity), Xerion Advanced Battery Corp (DirectPlate molten salt electrolysis), and a prior position in Li-Cycle (NYSE-listed in 2021 via SPAC at ~$1.67B). In August 2025 TechMet established TechMet SCM, a wholly-owned trading arm focused on specialty metals offtake, marketing, financing, logistics, and risk management, built in partnership with Mercuria Energy Trading.

The business model combines investment returns (equity value growth across the portfolio) with trading and marketing services revenue (TechMet SCM) and commodity sales from operational portfolio companies. The company is privately held, does not publicly disclose pricing or financial terms, and is funded by a coalition of institutional and sovereign investors including the US International Development Finance Corporation (DFC), Qatar Investment Authority (QIA), S2G Ventures, Lansdowne Partners, and Mercuria Energy Trading. Go-to-market is split between enterprise field sales to institutional/sovereign capital providers for fundraising rounds and direct B2B sales of critical minerals to EV/battery manufacturers, defense and aerospace primes, renewable energy and grid storage companies, mining and production partners, and advanced electronics OEMs. TechMet is a registered Irish private limited company (no. 652433) and does not have a public ticker; the company targets Western-aligned supply chains to reduce dependence on China-dominated critical mineral flows.

Name

TechMet-Mercuria

Legal name

TechMet Limited

Website

https://techmet.com

Company type

Private

Founded year

2017

Operating status

Operating

Short description

TechMet-Mercuria is a private critical minerals holding company with positions in 10 mining, processing, and recycling assets across four continents, supplying lithium, nickel, cobalt, rare earths, vanadium, tin, and tungsten to EV, defense, and energy storage markets, with a wholly-owned specialty metals trading arm established in 2025.

Ownership category

akta.pro rank

Product category

Critical Minerals Investment

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

akta.pro secondary industries

Critical Minerals Trading, Offtake & Marketing (IMAKAFAJ), Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG), Battery & Critical Minerals Trading (Lithium, Cobalt, Graphite, Manganese, Rare Earths) (IMAKAJAE)

Keywords

• Critical minerals investment
• Battery materials supply
• Lithium extraction technology
• Rare earth processing
• Mining venture capital

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Investment Returns and Equity Value Growth: TechMet generates returns through appreciation in value of its portfolio companies as they develop, reach production, and achieve commercial success. The company has achieved billion-dollar valuation through strategic investments.
2. Trading and Marketing Services: TechMet SCM provides global trading, sales, and marketing services for critical minerals including sales and marketing expertise, financing solutions, logistics, risk management, and material sourcing.
3. Nickel and Cobalt Production: Brazilian Nickel developing the Piauí Nickel Project to produce average of 27k tonnes of nickel and 0.9k tonnes of cobalt per annum. First production from commercial-scale demonstration plant achieved mid-2022.
4. Rare Earth Separation and Production: REEtec operates commercial plant in Southern Norway with capacity to produce 720t p.a. of NdPr oxide. Technology can process numerous types of rare earth feedstocks with significant expansion potential.
5. Battery Recycling: Li-Cycle provides lithium-ion battery recycling technology that recovers >90% of most valuable elements including cobalt, nickel, lithium and copper. TechMet funded Li-Cycle's Series A+B equity rounds.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

TechMet-Mercuria is a private critical minerals investment company that invests in, finances, and supports a portfolio of companies producing, processing, and recycling critical minerals including lithium, nickel, cobalt, rare earths, vanadium, tin, tungsten, and gallium. Through its wholly-owned trading arm TechMet SCM, the company provides global sales, marketing, financing, logistics, risk management, and material sourcing services for critical minerals to producers and end-users across technology, energy, aerospace and defence industries.

Product overview

TechMet is a private critical minerals investment company that operates as a holding company with a portfolio of subsidiary and portfolio companies. The core offering consists of TechMet SCM (Supply Chain Management), a wholly-owned trading and marketing division providing global sales, financing, logistics, risk management, and sourcing services for critical minerals. The company maintains controlling or dominant minority positions in 10 critical minerals assets across 4 continents, including: Brazilian Nickel (nickel/cobalt production in Brazil), Cornish Lithium (lithium extraction in UK), EnergySource Minerals (lithium DLE technology in USA), Trinity Metals (tin/tungsten in Rwanda), Momentum Technologies (battery recycling in USA), US Vanadium (vanadium chemicals in USA), Rainbow Rare Earths (rare earths in South Africa), REEtec (rare earth separation in Norway), and Xerion Advanced Battery Corp (refining/cathode manufacturing in USA). TechMet also previously held Li-Cycle, which was divested following its 2021 NYSE listing.

Differentiator

Problem solved

Functional benefit

Brands

• TechMet SCM: Wholly-owned supply chain management arm of TechMet providing marketing, trading, logistics, financing, and risk management services for critical minerals

Products and services

• TechMet SCM Trading and Supply Chain Services Wholly-owned supply chain management arm providing global trading, sales, marketing, offtake solutions, financing, logistics, risk management, and material input sourcing services for critical minerals to producers and end-users across technology, energy, aerospace and defence industries.
• Nickel and Cobalt Production (Brazilian Nickel) Production of Class 1 nickel and cobalt products for the Li-ion battery market using proprietary heap leach technology applied to laterite ores at the Piauí project in Brazil, with planned output of 27,000 tonnes per annum nickel and 900 tonnes per annum cobalt.
• Battery-Grade Lithium Hydroxide (EnergySource Minerals) Direct Lithium Extraction (DLE) technology branded ILiAD producing battery-grade lithium hydroxide from geothermal brines via the ATLiS project at the Salton Sea, California, with planned output of 20,000 tonnes per annum of lithium hydroxide.
• UK Lithium Production (Cornish Lithium) Sustainable lithium extraction in Cornwall, UK from both hard rock (Trelavour project) and geothermal brine (LiGW) sources for domestic UK lithium supply.
• Tin and Tungsten Production (Trinity Metals) One of the largest tin and tungsten producers in Africa based in Rwanda, created through merger of Trinity and Piran Resources, with long production track record and geological upside.
• Rare Earth Oxide Separation (REEtec) Proprietary chemical separation techniques producing separated rare earth oxides (NdPr oxide) from hard rock concentrates at a commercial plant in Southern Norway with 720 tonnes per annum capacity and 90% lower CO2 emissions than traditional processing.
• High-Purity Vanadium Chemicals (US Vanadium)
• Rare Earth Recovery from Gypsum Tailings (Rainbow Rare Earths) Recovery of rare earths from gypsum waste dumps of historic phosphate operations in Phalaborwa, South Africa, producing NdPr oxide with dysprosium and terbium without carbon-intensive mining and crushing.
• Li-ion Battery and Magnet Recycling (Momentum Technologies)
• Critical Minerals Refining and Cathode Manufacturing (Xerion Advanced Battery Corp)

Quantifiable outcome

• REEtec technology reduces CO2 emissions from rare earth separation by 90% compared to traditional processing routes
• +4 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Four partnerships are on record, tiered strategic.

• Rainbow Rare EarthsstrategicStrategic or Co-development Partner · 8 November 2023TechMet was granted an option to invest $50 million to take a direct stake in Rainbow Rare Earths' Phalaborwa project in South Africa, funding a substantial part of the equity component required for project financing.
• Mitra ChemstrategicStrategic or Co-development Partner · 13 September 2023TechMet-Mercuria invested in Mitra Chem's $60 million Series B round led by GM. TMM serves as Mitra Chem's exclusive lithium chemicals procurement agent, supporting Mitra Chem's mission to develop and commercialize US-made iron-based cathode materials for mass-market electrification.
• REEtecstrategicStrategic or Co-development Partner · 8 November 2022TechMet participated in REEtec's EUR 115 million funding round for the first industrial-scale rare earth plant in Norway. REEtec has developed proprietary technology for environmentally friendly and efficient production of neodymium and praseodymium (magnet metals essential for electric motors, wind turbines, robots, and pumps).
• Schlumberger New EnergystrategicStrategic or Co-development Partner · 3 March 2022Schlumberger New Energy and TechMet made a strategic investment in EnergySource Minerals to accelerate deployment of the ILiAD lithium extraction platform. The partnership integrates ILiAD into NeoLith Energy's pilot plant in Nevada for global scale deployment.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tembo Capital: Mining-focused private equity firm investing in critical and battery metals projects globally. Comparable to TechMet in backing development-stage mining assets with proprietary processing technologies and Western-aligned jurisdictions.
• Denham Capital: Private equity firm with a dedicated mining and metals strategy focused on critical minerals and battery materials. Both firms target institutional and sovereign capital and invest in companies developing non-Chinese supply of strategic metals.
• Waterton Global Resource Management: Private investment firm specializing in metals and mining with a strong focus on critical and precious metals. Both Waterton and TechMet operate as permanent capital vehicles with portfolio approaches to mining development.
• Orion Resource Partners: Mining-focused private equity firm that invests across the capital structure of resource companies, including critical minerals. Comparable to TechMet in providing growth capital, technical expertise, and offtake support to development-stage mining projects.
• Appian Capital Advisory: London-based private equity firm exclusively focused on mining and metals investments, with a similar fund structure to TechMet and overlapping interests in critical minerals. Both firms deploy institutional and sovereign capital into development-stage mining assets globally.

Broad incumbents

• ERG (Eurasian Resources Group): Diversified critical minerals producer with cobalt, copper, and aluminum operations including significant African footprint. ERG is a much larger, integrated incumbent that combines mining, processing, and trading in a manner similar to TechMet's broader platform ambitions.
• Glencore: Largest diversified mining and commodities trading company globally with significant cobalt, copper, and zinc production. Comparable to TechMet's integrated producer-trader model via its marketing division, though vastly larger and broader in commodity scope.

Emerging players

• MP Materials: US-listed rare earth mining and processing company operating the Mountain Pass mine in California. Comparable to TechMet's REEtec and Rainbow Rare Earths holdings in pursuing non-Chinese rare earth separation and magnet material supply chains.
• Lithium Americas: Lithium development company with major projects in the US (Thacker Pass) and Argentina. Directly comparable to TechMet's Cornish Lithium and EnergySource Minerals holdings in pursuing Western-aligned lithium supply for EV battery markets.

Others

• Mercuria Energy Trading: One of the world's largest independent commodity trading groups and TechMet's largest shareholder and strategic partner. While not a direct competitor, Mercuria's metals trading capabilities are deeply integrated with TechMet SCM and shape the platform's distribution economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TechMet-Mercuria