Pensana PLC Pensana signs co-operation agreement with Equinor
25 Janeiro 2022 - 08:00AM
RNS Non-Regulatory
TIDMPRE
Pensana PLC
25 January 2022
25 January 2022
Pensana Plc
("Pensana" or the "Company")
Signing of Cooperation Agreement with Equinor for magnet
recycling using hydrogen
Pensana announces that it has signed a cooperation agreement
with leading energy provider, Equinor New Energy Limited (Equinor),
to form a working group to share technical and commercial
information to develop a low energy method for recycling of
end-of-life magnets at Pensana's rare earth hub in Saltend Chemical
Park.
Pensana's Chairman, Paul Atherley ,commented:
"We are establishing a world-class, independent and sustainable,
rare earth processing facility at Saltend Chemicals Park. We are
also looking to process end-of-life magnets from wind turbine
nacelles using hydrogen's properties as a powerful reductant. We
very much look forward to working with Equinor using hydrogen from
the H2H Saltend project in establishing this innovative process
route as a key component in the circular economy for rare earth
magnets in the UK."
The partnership with Equinor supports Pensana's commitment to
the circular economy as it looks to recycle an addressable annual
market of 4,000 tonnes of end-of-life permanent magnets. Recycling
permanent magnets utilising hydrogen not as fuel, but as a
reductant, whilst benefitting from the decarbonised power supply
within Saltend, offers a clean alternative using 88% less energy
than virgin magnet manufacture and aligns with Pensana's continued
efforts to produce a sustainable supply chain for these critical
materials.
Equinor has submitted plans for its 'Hydrogen to Humber (H2H)
Saltend' hydrogen production facility into phase two of the
Government's Cluster Sequencing Process. The facility will be
supported by the potential supply of hydrogen to Pensana and other
regional hydrogen users ,which could be a world first and a
catalyst for the Humber to achieve net zero.
ENDS
For further information:
Pensana Plc
Website: www.pensana.co.uk
Paul Atherley, Chairman / Tim George, CEO contact@pensana.co.uk
Finsbury Glover Hering:
Gordon Simpson 020 7251 3801
Syra Basra
About Pensana
The electrification of motive power is the most important part
of the energy transition and one of the biggest energy transitions
in history. Magnet metals are central to the transition and
critical to high value manufacturing applications such as electric
vehicles and offshore wind turbines.
Pensana plans to establish Saltend as an independent,
sustainable supplier of the key magnet metal oxides to a market
which is currently dominated by China. The US$190 million Saltend
facility is being designed to produce circa 12,500 tonnes per annum
of rare earth oxides, of which 4,500 tonnes will be neodymium and
praseodymium (NdPr), representing over 5% of the world market in
2025.
The Saltend facility is located within the world class Saltend
Chemicals Park, a cluster of leading chemicals and renewable energy
businesses at the heart of the UK's energy estuary, and host to a
range of companies including BP Petrochemicals technology, INEOS,
Air Products, Triton Power, Nippon Gohsei and Tricoya.
Pensana's plug and play facility will create over 500 jobs
during construction and over 125 direct jobs once in production. It
will be the first major separation facility to be established in
over a decade and will become one of only three major producers
located outside China.
Initial feedstock will be shipped as a clean, high purity mixed
rare earth sulphate (MRES) from the Company's Longonjo low impact
mine in Angola. The mine's state-of-the-art concentrator and
proprietary MRES processing plant are being designed by Wood to the
highest international standards. They will be powered by minimal
carbon hydro-electric power and connected to the Port of Lobito by
the recently upgraded Benguela railway line.
Pensana is of the view that provenance of critical rare earth
materials supply, life cycle analysis and GHG Scope 1, 2 and 3
emissions will all become significant factors in supply chains for
major customers. The Company intends to offer customers an
independently and sustainably sourced supply of the metal oxides
and carbonates of increasing importance to a range of applications
central to the energy transition, industrial, medical, military and
communications sectors.
For many miners around the world who are looking to access the
European and US supply chains, it is becoming increasingly clear
that the proposed EU and possible UK carbon border taxation would
mean that it is no longer acceptable for manufacturers to source
material extracted or processed unsustainably.
Pensana is aiming to establish Saltend as an attractive
alternative to mining houses who may otherwise be limited to
selling their products to China, having designed the facility to be
easily adapted to cater for a range of rare earth feedstocks.
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