MOU establishes Eco Minerals as Impossible Metals' exclusive offshore mineral exploration partner, subject to equipment availability
CHARLESTON, SC / ACCESS Newswire / October 9, 2026 / Eco Minerals, Inc., a U.S.-based deep-sea mineral exploration and development company with advanced autonomous underwater survey capabilities, announces that its wholly owned subsidiary, Deep Sea Vision LLC ("Deep Sea Vision"), has entered into a Memorandum of Understanding (the "MOU") with Impossible Metals Inc. ("Impossible Metals"), a Pittsburgh, Pennsylvania-based developer of autonomous robotic technology for the selective collection of seafloor polymetallic nodules. The MOU establishes a framework for strategic collaboration between the two companies on deep-sea polymetallic nodule exploration and collection. The collaboration further demonstrates the potential of Deep Sea Vision's advanced offshore survey capabilities to support third-party mineral exploration and development programs, providing opportunities for commercial engagement beyond Eco Minerals' own mineral resource projects.
Under the MOU, if Impossible Metals elects to undertake any offshore mineral exploration activities during the term of the agreement, Eco Minerals will be the exclusive exploration partner for those activities subject to the availability of Eco Minerals' autonomous underwater vehicle ("AUV"), EM304 MKII multibeam echosounder and box coring equipment for the applicable project schedule.
"This agreement represents another important step in expanding the commercial applications of our deep-ocean exploration platform," said Tony Romeo, Chief Executive Officer of Eco Minerals. "Impossible Metals is developing a differentiated approach to nodule collection, and our advanced AUV and survey capabilities are a natural complement. We look forward to exploring opportunities to combine these technologies while continuing to expand Deep Sea Vision's role as an exploration partner across the offshore minerals industry."
The MOU also establishes a framework for the parties to evaluate collaboration across several areas that reflect their complementary capabilities. These include the potential implementation of Impossible Metals' polymetallic nodule collection technology in Eco Minerals' future projects and pilot testing the technology in potential lease areas.
"The hard part of this business isn't finding the resource, it's working with precision four kilometers down. That's what we've engineered against: a vehicle that hovers, identifies what it's picking up, and returns using buoyancy alone. And we built Eureka to travel; it works from a partner's vessel, in a partner's area, under a partner's regulator, and it hands back the accompanying environmental data so essential to research. That's how this technology gets qualified, and it's why partnerships like this one matter," said Steve Curnutte, Executive Chairman, Impossible Metals. "This MOU gives us a framework to evaluate how our respective technologies and capabilities can work together as we continue advancing our offshore development plans."
About Eco Minerals, Inc.
Eco Minerals is a U.S.-based company developing the regulatory, technical, and operational capabilities needed for the potential future exploration and development of subsea mineral resources. Eco Minerals has submitted an application to NOAA and has conducted engineering, technical planning, and other preparatory activities related to potential future exploration of polymetallic nodule resources in areas of the Pacific Ocean. For more information, please visit www.ecominerals.com.
About Deep Sea Vision LLC, an Eco Minerals Company
Deep Sea Vision, LLC is a wholly owned subsidiary of Eco Minerals, Inc., providing deep-ocean survey capabilities operated from shore or vessel. Deep Sea Vision's experienced operations personnel and integrated systems deliver quality-controlled data tailored to each customer's operational requirements. For more information, please visit www.deepseavision.com.
About Impossible Metals Inc.
Impossible Metals is an American ocean-technology company developing robotics and AI for precise, selective, and environmentally responsible interaction with the ocean. Its Eureka platform integrates robotics, sensing, and autonomy to enable a new model of subsea operations. For more information, please visit www.impossiblemetals.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements, including statements concerning the areas of collaboration contemplated by the MOU. Except for certain provisions expressly designated as binding, including the exclusive exploration arrangement subject to the conditions specified in the MOU, the MOU is non-binding and does not establish minimum work commitments, guaranteed revenue, or an obligation to enter into a definitive commercial agreement. There can be no assurance that the contemplated collaboration will result in commercial activities or revenue. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including risks relating to equipment performance and availability, vessel and personnel availability, customer demand, operational execution, regulatory approvals, financing requirements, and other factors beyond the Company's control. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. Eco Minerals undertakes no obligation to update or revise any forward-looking statements except as required by applicable law. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
Media Contact:
Eco Minerals, Inc.
Email: PR@ecominerals.com
Investor Relations Contact:
Adam Holdsworth
MZ Group - MZ North America
Direct: 305-341-9451
Email: ECOM@mzgroup.us
SOURCE: Eco Minerals, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/eco-minerals-announces-exclusive-deep-sea-exploration-partnership-with-impossible-1234879
