TMC, Allseas Ink Deal for First Commercial Deep-Sea Nodule Recovery System
May 12, 2026
The Metals Company (TMC) has signed a commercial agreement with offshore contractor Allseas for the development and operation of what the companies said would be the first commercial deep-sea nodule recovery system.
The agreement covers the development, commissioning and operation of a nodule collection system in preparation for offshore recovery operations in the Clarion Clipperton Zone of the Pacific Ocean.
The commercial production system is designed for a nameplate production capacity of 3 million wet tonnes per year and will use two collector vehicles operating at depths of more than 4 kilometers, with nodules transferred to the surface vessel Hidden Gem.
The system will also include launch and recovery systems, a riser system and a transfer vessel, the company said.
TMC said conceptual and basic engineering for key long-lead items, including the riser pipe and umbilical systems, has been completed, with vendor engagement and subcontract awards expected by the end of the third quarter of 2026.
The company expects commissioning of the offshore system to begin in the fourth quarter of 2027.
Under the agreement, Allseas will fund part of the development costs, recoverable through future production revenues.
“This agreement with Allseas is now the contractual cornerstone of our strategic alliance with Allseas: it establishes a clear commercial framework for how we complete the development and commissioning of our first commercial scale nodule recovery system and start offshore nodule recovery operations. In addition to being our largest strategic shareholder, Allseas has been an outstanding, mission-aligned technical partner.
“They didn’t just prove their system works; they worked closely with us to take every opportunity to further refine the design to minimize the environmental footprint based on the extensive baselining and monitoring of the field test and are willing to help us finance system development costs. Together, we are moving from firsts in deep-sea science and engineering towards first commercial recovery operations,” said Gerard Barron, Chairman and CEO of TMC.
