20 September 2022
20 September 2022
("Pensana" or the "Company")
Pensana partners with Polestar to create the world's first
Pensana (PRE.L) is delighted to be partnering with Polestar
(Nasdaq: PSNY) on its moon-shot goal of creating the first truly
climate-neutral car by 2030.
The scope of the Polestar 0 project is to identify and eliminate
all greenhouse gas emissions from the extraction of raw materials
to when the car is delivered to the customer and onwards to the end
of vehicle life.
To achieve this goal Polestar has teamed up with like-minded
partners across the entire value chain, from raw material suppliers
to retailers. Pensana is delighted to have been invited to join the
Through this collaboration with Polestar and its partners, which
include Boliden - Copper and other metals, Hydro - zero-carbon
aluminium, SSAB - fossil-free steel, Sekab - biobased chemicals, ZF
- electric powertrains and others, each partner will focus on
certain processes bringing together world-class research and
innovative thinking to the Polestar 0 project's hugely important
Pensana recently broke ground on the establishment of an
independent and sustainable supply chain for ultra-low carbon
magnet metal rare earths powered by offshore wind at the Saltend
Chemical Park in the Humber Freeport UK with high-value raw
materials supplied from the hydro-electric powered state-of-the-art
mine at Longonjo in Angola.
Chairman Paul Atherley commented:
"We are absolutely delighted to collaborate with Polestar and
its partners on the Polestar 0 project which is aiming to unlock
the full potential of electric vehicles by creating the world's
first climate-neutral car.
Polestar is majority owned by Volvo which has a proud history of
pioneering safety in cars in the 1970s setting the standard for all
cars manufactured worldwide. We believe that the Polestar 0 will
set the standard for the electric vehicle industry.
This is a truly innovative project which needs an independent
and sustainable supply of rare earths. We are incredibly excited to
be working with Polestar and its partners and are very much looking
forward to Pensana playing its part in redefining the future of
electric vehicle manufacture."
Hans Pehrson, leader of the Polestar 0 project, commented:
"A project of this ambition requires partners at the
cutting-edge of their industries and which are fully engaged in our
That's why I'm looking forward to Pensana becoming a crucial
part of our team as we find solutions for developing an entirely
climate-neutral supply chain. Pensana's expertise in Rare Earth
supply, including mining, will be invaluable in our mission and
will play an integral role in pioneering new and innovative
technologies to achieve what has so far been impossible."
- ENDS -
For further information, please contact:
Paul Atherley, Chairman IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
George Zacharias, Group Company Secretary
Gordon Simpson / Richard Crowley Pensana-LON@fgsglobal.com
About Pensana Plc
The electrification of motive power is the most important part
of the energy transition if we are to tackle climate change and one
of the biggest energy transitions in history. Magnet metal rare
earths are central to that transition, forming a critical part of
the technology for efficient electric vehicle motors and offshore
Pensana plans to establish its Saltend processing hub as an
independent and sustainable supplier of the key rare earth magnet
metal oxides to a market which is currently dominated by China.
The US$195 million Saltend facility is being designed to produce
circa 12,500 tonnes per annum of rare earth products, of which
4,500 tonnes will be neodymium and praseodymium oxide (NdPrO),
representing over 5% of the world market in 2025.
Pensana's plug-and-play facility is located within the
world-class Saltend Chemicals Park, a cluster of leading chemicals
and renewable energy businesses in the Humber Freeport and will
create over 500 jobs during construction and over 125 direct jobs
once in production.
Powered by low-carbon offshore wind, it will be the first major
separation facility to be established in over a decade and will
become one of the few major producers located outside China.
Feedstock will be shipped as a clean, high purity mixed rare
earth sulphate (MRES) from the Company's Longonjo low-impact
operations in Angola. The mine's state-of-the-art concentrator and
proprietary MRES processing plant are designed by Wood to the
highest international standards.
The operations will be powered by renewable energy from
hydroelectric power and connected to the Port of Lobito by the
recently upgraded Benguela railway line.
Pensana believes 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
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
addressing the energy transition.
Pensana is also aiming to establish Saltend as an attractive
alternative to mining houses that 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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(END) Dow Jones Newswires
September 20, 2022 02:00 ET (06:00 GMT)
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