Dar es Salaam, July 29 -- IN 2021, three businessmen—John Dowd, Govind Friedland and Michael Klug—recognised a rising global opportunity: the rapidly growing demand for nickel, driven by the electric vehicle revolution and clean energy transition.

To seize this moment, they created GoGreen Investments Corporation, a Special Purpose Acquisition Company (SPAC). Unlike traditional companies, SPACs have no commercial operations; they exist to raise capital from investors and then merge with a promising private company to take it public more quickly.

GoGreen was incorporated in the Cayman Islands on March 17, 2021 and later listed on the New York Stock Exchange, raising roughly 240 million US dollars from investors keen on the gr...