Market Research Report: Atlas Materials

Company Overview

• Name: Atlas Materials

• Mission: Enabling car makers to decarbonize by creating a North American supply of clean nickel.

• Foundation: No information is available on when the company was founded.

• Founders: Co-founded by Jeremy Ley and David Dreisinger.

• Key People:

• David Dreisinger: Interim CEO and Co-Founder.

• Jeremy Ley: Visionary Co-Founder (deceased January 2024).

• Sarah Sclarsic: Director.

• Kevin Tidwell: Director.

• Michael McPhie: SVP of Public Affairs and Project Director.

• Doug Dreisinger: SVP of Strategic Partnerships.

• Brent Rochon: SVP Nickel Marketing.

• Ken Baxter: SVP of Engineering.

• Eric Trusiewicz: Special Adviser, Supplementary Cementitious Materials.

• Headquarter: No information is available on the headquarters.

• Number of Employees: No information is available on the number of employees.

• Revenue: No information is available on the company's revenue.

• Known For: Developing the Atlas Process, a hydrometallurgical approach for extracting nickel with a lower environmental footprint, focusing on transforming battery nickel supply.

Products

• Atlas Process

• Description: A hydrometallurgical method used for extracting nickel from saprolite ore with minimal environmental impact.

• Key Features:

• Produces battery nickel with almost zero CO2 emissions, no waste or other emissions.

• Works at atmospheric pressure and temperature.

• Uses acid and alkali reagents for extraction.

• Proven on ores from major nickel mines.

• Electra Plant Products (to be produced by 2027):

• Nickel: 1,800 tons per year of nickel in the form of Mixed Hydroxide Precipitate (MHP).

• Magnesium Hydroxide: 50,000 tons per year, a by-product expected to reduce shipping emissions by desulfurizing SO2.

• Supplementary Cementitious Material (SCM): 70,000 tons per year, used to reduce carbon footprint by replacing clinker in cement manufacturing.

Recent Developments

1. Commercial Agreement with SMGM:

• Date: December 19, 2023

• Atlas Materials signed an agreement with Société Minière Georges Montagnat (SMGM) for the supply of nickel ore.

• SMGM, based in New Caledonia, will supply up to 200,000 wet metric tonnes of ore per annum for the Electra plant.

2. Battery Nickel Production Process Development:

• Date: September 28, 2023

• Announcement of a breakthrough production process for battery nickel with almost zero CO2 emissions.

• Completion of a US$27 million Series A fundraising round.

3. Attendance at ALTA 2023 Conference:

• Date: May 1, 2023

• Focus on low carbon nickel, cobalt, and copper production from saprolite nickel ores.

4. First Commercial Plant Progress (Electra):

• Expected production commencement in 2027.

• Plant to be located in North America, based near renewable energy sources.

• Final site decision expected by mid-2024.

5. Technological Advancements:

• The Atlas Process offers less than 0.1 ton of CO2 per ton of nickel when powered by renewables.

• Future plans include carbon-negative nickel production and potential ocean deacidification.

6. Funding and Investments:

• Supported by climate technology investors such as Grantham Environmental Trust, Voyager Ventures, and Counteract Carbon Removal.

• Funded the final design and engineering works for the Electra plant.

Atlas Materials is positioning itself at the forefront of environmentally sustainable nickel processing, addressing a growing demand for cleaner battery materials. By aiming for significant reductions in CO2 emissions and waste, the company supports the energy transition and decarbonization efforts in the automotive industry.