Libra Group’s strategic investment in GreenMet

Libra Group has announced a strategic investment in the green energy company GreenMet, formerly known as Greentech Minerals Holdings.

GreenMet aims to develop sustainable supply chain infrastructure for critical rare earth minerals, such as green steel, to meet the green energy and technology needs of the United States and North America.

The company was founded to meet the need for critical minerals and metals of responsible origin, which are vital in promoting increased penetration of renewable energy sources, infrastructure construction and global competition. This investment is a natural next step for the Libra Group and complements the group’s extensive RES portfolio that includes solar, wind and biogas. Greenmet is currently working on the development of six large projects with a total estimated value of over $ 2 billion and is rapidly building unprecedented solutions in the battery and magnet supply chain.

GreenMet was founded by former Green Berets (US Special Forces) and government officials, including former senior government and congressional officials. The team is led by CEO Drew Horn, a former U.S. Army Special Forces officer who later led U.S. efforts to assess and address vulnerabilities in the rare earth supply chain. He has worked on these issues from a variety of positions, including the White House, the Department of Energy, and the Office of the Director of National Intelligence in America. He founded GreenMet to address the overwhelming need for a sustainable and secure supply chain for rare earth metals, magnets and green steel in North America.

“Ensuring a sustainable supply chain for minerals and minerals from rare earths, including green steel, is vital to our national interests and our economic future,” said Drew Horn, CEO of GreenMet. “We are proud to be laying the groundwork for greater resource independence for rare earth minerals, which will enhance our technological advancement and also allow North America to move towards a greener future.”

The US rare earth mineral market is a multi-billion dollar sector because of its central role in everyday products such as smartphones and computers, as well as in the means of transporting and generating energy, even in health equipment and critical national security devices such as fighters. planes and drones. As North America works to shift to affordable renewable energy, rare earths are key components of solar panels, wind turbines and electric vehicle batteries.

This strategic investment follows a statement by the Biden government on the critical need for domestic mineral production and mining to address the significant shortage. Currently, 84% of rare earth mining and production takes place outside of North America. In addition, there are no globally accepted mining standards or ESG principles applied to ensure sustainable and accountable supply chain practices.

Its President and CEO Libra Group, George Logothetis, said: “GreenMet is a natural next step for our Group, adding to our global subsidiaries that lay the foundation for the future of clean energy with large-scale photovoltaic and wind farms. This sector is critical to the global economy and the future of our planet “. Mr. Logothetis continued, “Drew and the leadership of GreenMet have an unparalleled understanding of suppliers and buyers of rare earth minerals with a proven, global perspective. The Libra Group is proud to promote GreenMet’s mission to ensure a more sustainable “These valuable materials support the US economy. Ensuring the responsible origin of these materials is the key to moving to a secure, green energy future.”

As part of the strategic partnership between the Libra Group and GreenMet, four members of the Libra Group Executive Team will be appointed to the GreenMet Board of Directors. GreenMet currently has six projects under development. The company will soon unveil an expert advisory team that will include academics and ESG leaders to advise its business.