Impossible Metals Successfully Demonstrates Eureka II to Stakeholders and Shows How Its Costs are One-Third Less Compared to the Competition

Collingwood, Ontario, Canada  – Impossible Metals successfully demonstrated the capabilities of their novel Eureka II autonomous underwater vehicle (AUV) to an audience of industry stakeholders on November 13, 2024. This follows the AUV’s successful deep-water test in April. 

The event was attended by representatives from three deep-sea exploration contract holders, a regulator, an environmental NGO, and others. During the demonstration, Impossible Metals showcased Eureka II’s precision selective harvesting technology and life detection algorithms. The company also unveiled an updated techno-economic analysis, which identifies that the all-in-sustaining costs (AISC) of mining operations using a Eureka IV system is approximately one-third the cost of the dredging tractor with riser systems.

“We are thrilled to have successfully demonstrated Eureka II’s patent-pending technology, which includes our buoyancy engine, a fast underwater robotic arm, and an AI-driven computer vision system,” said Oliver Gunasekara, CEO and Co-Founder of Impossible Metals. “The event also provided a platform to share insights into our future plans, including the Eureka III and IV systems.”

Among those in attendance was Bob Galyen, retired CTO of CATL, the world’s largest battery company, who said, “The speed of progress from Eureka I to II has been incredible. It was particularly impressive to see the life detection AI algorithms operating in real-time and coordinating multiple arms.”

Public Data and Upcoming Webinar

As part of a commitment to transparency, presentations, videos, and the concept economic model are publicly available. Impossible Metals will host a webinar on Friday, January 17, 2025, from 8:00 AM to 9:00 AM PST (11:00 AM to 12:00 PM EST)  to review the key takeaways from the event and guide attendees through the available information. Register for the webinar here.

About Impossible Metals

Impossible Metals‘ (YC W22, Public Benefit Corporation) vision is to accelerate clean energy by delivering sustainable critical metals. We are developing autonomous underwater vehicles (AUVs) to harvest critical metals from the seabed while protecting the environment. Located in the US and Canada, Impossible Metals is committed to the UN Sustainable Development Goals. Download our Media Kit Assets.