(NewsDirect)
Element 25 Ltd(ASX:E25) MD Justin Brown recaps what’s been a significant quarterfor the company. It released a feasibility study which revealed whathe describes as compelling economics for the proposed first everUS-based battery-grade high-purity manganese sulphate monohydrate(HPMSM) facility in the US.
E25 has also taken another step on the path toproducing HPMSM with global automaker Stellantis NV completing itsfirst US$15 million investment in the company.
On January 9, 2023, E25announced the signing of a binding agreement with Stellantis N.V. tosupply battery-grade HPMSM from E25’s proposed USA-based processingfacility.
Theagreement combines take or pay offtake commitments for 45Kt of HPMSMfrom the facility over five years with US$30M in two tranches ofproject funding towards the facility capital cost. Tranche 1 of thefunding comprises a US$15M equity investment in E25. The further keycommercial terms are outlined in detail in Appendix A to theannouncement in January7.
Element 25 is operating the world class 100%-owned ButcherbirdManganese Project in Western Australia and developing battery gradehigh purity HPMSM products for traditional and new energy markets.
It aims to become an industryleading, world class, low-carbon battery materialsmanufacturer.
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Proactive Investors
JonathanJackson
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jonathan@proactiveinvestors.com
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