Home Investing Strategy Libra Group Announces Strategic Investment in U.S. Rare Earths and Critical Minerals Company GreenMet

Libra Group Announces Strategic Investment in U.S. Rare Earths and Critical Minerals Company GreenMet

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Libra Group Announces Strategic Investment in U.S. Rare Earths and Critical Minerals Company GreenMet


Global conglomerate builds on strong renewable energy portfolio with strategic investment in technology supply chain companies supporting North American rare earth mineral interests

New York, March 17, 2022 /PRNewswire/ — Today, Libra Group, an international business group with subsidiaries with assets and operations in more than 50 countries, announced that it has made a strategic investment in green energy company GreenMet (formerly Greentech Minerals Holdings). GreenMet is leading the development of infrastructure for sustainable supply chains of key rare earth minerals such as green steel to meet the demand for green energy and technology in the United States and greater North America.

The company was established to meet the demand for responsibly sourced critical minerals and metals, which are essential to facilitate the absorption of renewable energy, build infrastructure and compete globally. This investment is a natural next step for the Libra Group and complements its extensive renewable energy portfolio, including solar, wind and biogas. Greenmet is currently developing six major projects with an estimated total value of more than $2 billion And are rapidly building solutions never before seen in the battery and magnet supply chain.

GreenMet was founded by former Green Berets and civil servants, including former senior executives and congressional staff.The team is led by the CEO Drew Horn, a former U.S. Army Special Forces officer who later led U.S. efforts to assess and address vulnerabilities in rare earth supply chains. He has looked at these issues from multiple angles, including his work at the White House, the Department of Energy and the Office of the Director of National Intelligence. He founded GreenMet to address the huge demand for sustainable and secure supply chains for rare earth metals, magnets and green steel. North America.

“Ensuring sustainable supply chains for rare earth minerals and metals, including green steel, is critical to our national interest and economic future,” said GreenMet CEO Drew Horn. “In rare earth minerals, we are proud to lay the groundwork for greater resource independence, which will advance our technology while also allowing North America Towards a greener future. “

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The U.S. rare earth minerals market is a multibillion-dollar industry because they play a central role in everyday products like smartphones and computers, in how transportation and energy are produced, and even in critical national security equipment like medical equipment and fighter jets and drones.as North America In the transition to affordable renewable energy, rare earths are an essential component of solar panels, wind turbines and electric vehicle batteries.

The strategic investment comes after the Biden administration declared an urgent need for domestically produced minerals and mining to address critical shortages.Currently, 84% of rare earth mining and production is done externally North America. Furthermore, there are no globally accepted mining standards or ESG principles that apply to ensuring sustainable and responsible supply chain practices.

Chairman and CEO of Libra Group George Losertis said: “GreenMet is the natural next step for our group, including global subsidiaries that are using utility-scale solar and wind power to lay the foundation for our clean energy future. This work is critical to the future of the global economy and our planet. critically important.” Logothetis continued, “The leadership of Drew and GreenMet have unparalleled knowledge of rare earth mineral suppliers and buyers and a proven global perspective. The Libra Group is proud to advance GreenMet’s mission to ensure that these support U.S. A more sustainable supply chain for the economy’s precious materials. . . Ensuring these materials are sourced responsibly is key to transitioning to a safe, green energy future.”

As part of Libra Group’s strategic partnership with GreenMet, four members of the Libra Group executive team will be appointed to GreenMet’s board of directors. GreenMet currently has six projects in development. The company will soon launch a team of expert advisors, including academics and ESG leaders, to inform its business.

About Libra Group

Libra Group (www.libra.com) Yes A private international business group with subsidiaries with assets and operations in more than 50 countries. Libra is primarily active in six areas, including several critical to the global economy. Industries include renewable energy, shipping, aviation, hospitality and real estate, as well as select diversified investments. The Group has also created 10 social responsibility programs that positively impact the lives of many people around the world. These plans reflect the Group’s values ​​and strong commitment to ESG at the heart of everything we do.

About GreenMet

GreenMet (www.Greenmet.com) is focused on developing sustainable, reliable and secure supply chain infrastructure for rare earth metals and minerals to meet North American energy and technology needs. This includes the production of rare earth minerals and metals, including key magnets, battery materials and green steel.

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View original article: https://www.prnewswire.com/news-releases/libra-group-announces-strategic-investment-in-us-rare-earth-and-critical-mineral-company-greenmet-301505026.html

Source Libra Group

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