POINT LISAS, Trinidad and Tobago, Aug. 12, 2026 /PRNewswire/ — Heeney Capital (“Heeney”), a U.S. private investment firm focused on critical minerals, strategic resources, and industrial supply chains and lead investor in Pinnacle Steel and Vanadium, welcomes the official launch of the refurbishment of the former ArcelorMittal steel facility in Point Lisas. Work will be done under the Pinnacle’s local operating subsidiary, Ibis Steel Company of Trinidad and Tobago. Pinnacle’s initial investment of $250 million will create 350 jobs during refurbishment and 500 jobs during operations; future expansion planned with an additional $500 million investment will create 1,000 total jobs and revitalize a shuttered facility.
The ribbon-cutting ceremony, held on August 10, marks a significant milestone in the project’s development and revitalization and advances a vision to transform the facility into one of the most technologically advanced producer of steel and vanadium, a critical mineral essential to U.S. manufacturing, infrastructure, energy storage, aerospace, and defense industries.
“Heeney invests in projects that strengthen Western industrial capacity and critical mineral supply chains,” said Henry Heeney, Co-Founder of Heeney Capital. “Pinnacle has the potential to become a critical source of steel and vanadium for the United States and allied markets, and we are proud to support its development.”
Pinnacle has announced plans to establish one of the world’s most advanced and environmentally responsible steel production facilities while creating hundreds of jobs and positioning Trinidad and Tobago as a strategic hub for critical mineral production. The company has stated that the project will be capable of supplying 100% of U.S. vanadium imports.
“This project has the ability to meaningfully move the needle for U.S. supply chains,” said Sean Pi, Co-Founder of Heeney Capital. “Reliable access to critical minerals like vanadium is increasingly important, and we believe this facility can play a significant role in supporting long-term industrial and economic security objectives.”
Heeney also expressed its appreciation for the support of the Government of Trinidad and Tobago, particularly Minister of Works and Infrastructure Jearlean John, and the United States government, including U.S. Deputy Secretary of State Christopher Landau, whose participation underscores the strategic importance of the project.
Industry leaders and stakeholders, including representatives from PLIPDECO and other investors in the Port Lisas Industrial Port area, attended the ceremony celebrating the next phase of development at the Point Lisas facility.
Heeney Capital looks forward to continuing its support of Pinnacle Steel and Vanadium as the project advances toward production and helps strengthen resilient steel and critical mineral supply chains across the Western Hemisphere.
About Heeney Capital
Heeney Capital is a private investment firm focused on critical minerals, strategic resources, and industrial supply chains supporting U.S. and allied economic security interests. The firm partners with industry leaders, investors, and governments to advance projects that strengthen supply chain resilience and create long-term economic value.
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SOURCE Heeney Capital
