Welsbach Technology Metals Acquisition Corp. (WTMA) has announced a merger agreement with Evolution Metals LLC (EM), aiming to establish a secure, reliable global supply chain for critical minerals and materials. This venture focuses on enhancing mid-stream and down-stream operations to support the automotive, aerospace, and defense industries with sustainable technologies integrated with AI and robotics. The combined entity intends to produce over ten thousand tons per annum of materials like magnets and battery metals. Additionally, WTMA and EM plan to develop battery, e-scrap, and magnet recycling facilities. Concurrently, WTMA is seeking shareholder approval to extend its deadline for completing an initial business combination from June 30, 2024, to June 30, 2025. They intend to enter non-redemption agreements to retain funds in their trust account. The merger is expected to result in WTMA’s successor listed company owning 100% of EM.

Technology Metals, Energy Transition Materials, Manufacturing and Recycling,United States