Sustainable Opportunities Acquisition Corporation announced that it has filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission. The filing includes a preliminary proxy statement/prospectus in connection with SOAC's proposed business combination with DeepGreen Metals Inc., a company exploring for lower-impact battery metals from polymetallic nodules lying on the seafloor. DeepGreen recently announced its entry into a definitive business combination agreement with SOAC, a special purpose acquisition company with a dedicated ESG focus and deep operational and capital market capabilities in the energy and resource sectors.

DeepGreen is exploring a new, scalable source of battery metals in the form of polymetallic nodules which are found in the Clarion Clipperton Zone of the Pacific Ocean. The estimated battery metal resource on the seafloor in the exploration contract areas held by DeepGreen's subsidiaries is equivalent to that contained in 280 million EVs —approximately one quarter of the current global passenger vehicle fleet. Upon completion of the transaction, the combined company will operate as The Metals Company and is expected to be listed under the ticker symbol TMC in the second quarter of 2021.

Once the registration statement has been declared effective by the SEC, the final definitive proxy statement/prospectus will be mailed to shareholders of SOAC prior to its shareholder vote on the proposed transaction.