The SPAC will focus firms that are positioned to benefit from the global transition towards a low carbon economy
Vision Blue Resources has partnered with The Energy & Minerals Group (EMG) to launch a $300m Special Purpose Acquisition Company (SPAC), ESM Acquisition Corporation (ESM).
ESM is expected to target firms that are positioned to benefit from the global transition towards a low carbon economy.
The transaction size is expected to increase to $345m if the underwriter selects a 45-day overallotment option.
ESM will identify the target businesses that focus shift away from fossil fuels, the light-weighting and electrification of vehicles and the reduction of carbon emissions from key industrial processes.
Vision Blue stated: “ESM’s strategy is to identify and complete an initial business combination with a target that can benefit from its leadership team’s significant experience in the natural resources industry.
“The Company believes it can identify attractive business combination opportunities that can provide an opportunity for transformational growth.”
Separately, Vision Blue has led an investment of up to $12.6m in Ferro-Alloy Resources (FAR), a vanadium mining and processing company with operations based in Southern Kazakhstan.
FAR is developing the Balasausqandiq vanadium project that is expected to benefit from access to existing power and logistics infrastructure.
The company believes that the project could support an operation of up to 10 million tonnes per annum (Mtpa) of ore, though the deposit has not been fully explored.
FAR also thinks the project to produce about 55,000 tonnes of vanadium pentoxide per year.
Vision Blue stated: “The Initial Investment will allow FAR and VBR to ensure that the Company has sufficient capital to progress critical near term workstreams including further expansion and improvements to the Company’s existing operations as well as fully funding the completion of the Balausa Project feasibility study.”