Travers Smith LLP has advised Lifezone Metals, a developer of cleaner metals for EV batteries, on its combination with GoGreen Investments (NYSE: GOGN).
Lifezone Metals pairs one of the largest and highest-grade undeveloped nickel sulphide deposits in the world with proprietary green-processing technology, to produce cleaner metals in support of growing demand for batteries used in electric vehicles, fuel cell vehicles and energy storage.
The transaction will create the first nickel resource and green technology company listed on the New York Stock Exchange (NYSE). Upon completion of the proposed transaction, the combined company has an estimated post‐transaction equity value of approximately $1 billion.
Travers Smith also advised Lifezone Metals on an additional $50 million investment by BHP into its subsidiary, Kabanga Nickel Limited.
The Travers Smith team was led by Corporate Partner Tom Coulter, with support from Corporate Senior Associate Graeme Earle. Tax advice was provided by Partner Jessica Kemp, Senior Counsel Elissavet Grout, Senior Associate Siv Devakumar and Associate Jessica Baker, Commercial, IP & Technology advice was provided by Senior Counsel Michael Cuthbertson and Operational Risk & Environment advice was provided by Partner Doug Bryden and Senior Counsel, John Buttanshaw.
Corporate Partner Tom Coulter noted: "We are delighted to advise long-standing client, Lifezone Metals, on the combination with GoGreen. The company is developing what it believes will be one of the cleanest, most socially responsible nickel production facilities in the world. Lifezone Metals' propriety technology has the potential to significantly lower the cost, as well as the environmental and climate footprint, of mineral processing."
Cravath Swaine & Moore LLP advised Lifezone Metals on the US law aspects of the transaction.