Element 25 to become key supplier of battery raw materials
Melbourne, Victoria --News Direct-- Element 25 Ltd
Element 25 Ltd (ASX:E25) MD Justin Brown recaps what’s been a significant quarter for the company. It released a feasibility study which revealed what he describes as compelling economics for the proposed first ever US-based battery-grade high-purity manganese sulphate monohydrate (HPMSM) facility in the US.
E25 has also taken another step on the path to producing HPMSM with global automaker Stellantis NV completing its first US$15 million investment in the company.
On January 9, 2023, E25 announced the signing of a binding agreement with Stellantis N.V. to supply battery-grade HPMSM from E25’s proposed USA-based processing facility.
The agreement combines take or pay offtake commitments for 45Kt of HPMSM from the facility over five years with US$30M in two tranches of project funding towards the facility capital cost. Tranche 1 of the funding comprises a US$15M equity investment in E25. The further key commercial terms are outlined in detail in Appendix A to the announcement in January7.
Element 25 is operating the world class 100%-owned Butcherbird Manganese Project in Western Australia and developing battery grade high purity HPMSM products for traditional and new energy markets.
It aims to become an industry leading, world class, low-carbon battery materials manufacturer.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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