(NewsDirect)
Element 25 Ltd (ASX:E25 OTCQX:ELMTF) managing director Justin Brownsits down with Proactive’s Jonathan Jackson to discuss thecollaboration with Veolia North America to establish a site for ahigh-purity manganese sulphate monohydrate (HPMSM) refinery inBurnside, Ascension Parish, Louisiana.The partnership entails E25acquiring approximately 35 acres of land adjacent to Veolia'sexisting sulphuric acid production facility. This location willprovide E25 with critical resources such as sulphuric acid, suppliedby Veolia through a 20-year fixed-rate pipeline agreement. Additionalservices including natural gas, water and return water are included inthe terms, alongside a temporary laydown area for use during therefinery's construction.This initiative is a component ofE25's broader Louisiana HPMSM Project, aiming to secure projectfinancing and finalise investment decisions by August 30, 2024. Apivotal step in the project's progression will be obtaining an airpermit essential for commencing construction.Brown highlighted thestrategic importance of the chosen site, noting its capacity tosupport the construction of the USA’s first HPMSM facility. Theagreement between E25 and Veolia involves several definitiveagreements scheduled for execution by June 30, 2024.E25’s venture isbolstered by a $85 million investment from General Motors andadditional support from Stellantis N.V., enhancing the project'sfinancial foundation. The synergy with Veolia's operationspromises economic benefits for Ascension Parish and supports broaderenergy transition goals.
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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