Arizona Tribune - Deep Sea Rare Minerals, Inc. Enters Into Engineering and Design Agreement with Consortium of Subsea Equipment Providers

MT. PLEASANT, SC / ACCESS Newswire / December 1, 2025 / Deep Sea Rare Minerals, Inc. ("DSRM" or the "Company"), the parent company of autonomous underwater vehicle operator and subsea survey company Deep Sea Vision, LLC ("DSV"), announced today that it has entered into a Front-End Engineering and Design ("FEED") Agreement with a consortium of subsea equipment engineering and manufacturing companies. The Agreement represents the initial phase in the design, development, and evaluation of a next-generation, ultra-deepwater polymetallic nodule harvesting system.

Under the Agreement, a business unit of Oil States International, Inc. (OIS; www.oilstatesintl.com) will serve as the prime contractor. Several additional U.S.-allied subcontractors will be providing specialized engineering and technical support.

DSRM is advancing the conceptual and technical framework needed to enable potential future U.S.-based recovery operations for polymetallic nodules. Working alongside its engineering partners, DSRM aims to create and refine technologies intended to improve both subsea and surface handling efficiency while maintaining the highest environmental and operational standards.

Tony Romeo, DSRM's Founder and Chief Executive Officer and a former U.S. Air Force Intelligence Officer, stated:

"Our momentum in the polymetallic mineral exploration space continues to build. We believe we have aligned with a world-class team of partners-including our U.S.-based design team lead, Oil States International-to advance the engineering of our bespoke harvester system. Our strategy-to accelerate subsea mineral exploration, site planning, and extraction equipment design and manufacturing-may enable the Company to become extraction-ready as early as 2028. These efforts align with President Trump's critical minerals strategy and the April 24, 2025 Executive Order, Unleashing America's Offshore Critical Minerals and Resources (www.noaa.gov/news-release/next-gold-rush-president-trump-unlocks-access-to-critical-deep-seabed-minerals). We remain committed to contributing to the responsible development of critical mineral supply chains that support America's economic and national security."

Garry Stephen, Oil States Vice President, commented:

"Oil States is pleased to have been selected by Deep Sea Rare Minerals to help advance their plans to evaluate and potentially commence commercial deep-sea mineral recovery. Building on our track record as a global leader in deepwater minerals-gathering systems, our engineering analysis and field-proven technologies support rapid operational start-up and long-term reliability, even in remote and challenging deepwater environments. Having supported two successful deep-sea mineral trials in late 2022 and holding the world record for a producing riser operating at 4,500 meters (14,764 feet), we look forward to leveraging this experience as we work with the DSRM team on this next-generation system."

About Deep Sea Rare Minerals, Inc.

Deep Sea Rare Minerals, Inc. ("DSRM") is a U.S.-based company dedicated to the responsible development of subsea mineral resources. The Company's mission is to support the secure supply of critical minerals essential to modern industry, renewable-energy technologies, and national defense.

About Oil States

Oil States International, Inc. is a global provider of manufactured products and services to customers in the energy, industrial, military, and deep-sea minerals sectors. The Company's manufactured products include highly engineered capital equipment and consumable products. Oil States is headquartered in Houston, Texas, with manufacturing and service facilities strategically located across the globe. Oil States is publicly traded on the New York Stock Exchange under the symbol "OIS." For more information, please visit www.oilstatesintl.com. For information about the Company's deep-sea minerals systems, please visit OSI Minerals™ at www.osiminerals.com.

Media Contact Deep Sea Rare Minerals, Inc.
Email: [email protected]

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Forward-looking statements include, among others, statements regarding the Company's plans, objectives, strategies, expectations, intentions, engineering and design milestones, anticipated timelines, and potential future operations related to polymetallic nodule recovery. These statements are based on current assumptions, expectations, and projections and are not guarantees of future performance.

Forward-looking statements involve significant risks and uncertainties that are difficult to predict and may cause actual results to differ materially from those expressed or implied herein. These risks and uncertainties include, but are not limited to, risks related to:

• engineering, technological, and manufacturing challenges;

• performance, reliability, or integration of subsea systems and equipment;

• the timing, outcome, and receipt of regulatory approvals, permits, and authorizations from U.S. and international authorities;

• environmental assessments, impact evaluations, and evolving regulatory frameworks governing deep-sea minerals;

• changes in governmental policy or political priorities, including those related to critical minerals;

• commercial, operational, financial, and logistical considerations;

• availability and cost of capital and future financing needs;

• market conditions, commodity price fluctuations, and supply-chain uncertainty;

• potential delays associated with third-party engineering, fabrication, or testing;

• and other factors, many of which are beyond the Company's control.

Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. Deep Sea Rare Minerals, Inc. undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or circumstances after the date of this release, 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.

SOURCE: Deep Sea Rare Minerals, Inc.

View the original press release on ACCESS Newswire

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