Key points
- CTO/COO and co-founder Jason Gillham presents version 7 of the techno-economic model, which aligns with TMC’s NORI prefeasibility study and adopts an 8% weighted average cost of capital.
- At peak economics, Eureka 3 is modeled to collect 2.25 million wet tons per year at $110 per wet ton, while the larger Eureka 4 collects 6.75 million wet tons per year at $96 per wet ton.
- A new top-grading sensitivity shows that selectively targeting larger nodules can cut cost per ton by about 40%, and collecting just 5-20% of nodules by mass can match the economics of full collection.
- Eureka 3 has a carrying capacity of 4 wet tons and a 3.6-hour round trip, while Eureka 4 carries 12 wet tons with a 5.4-hour round trip; version 8 of the model, adding multi-site performance and labor refinements, is targeted for April 2026.
