TIDMPRE 
 
7 July 2022 
 
                 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
                                  Pensana Plc 
 
                         ("Pensana" or the "Company") 
 
Pensana Plc and Yorkshire Energy Park announce the world's first rare earth 
processing hub powered by offshore wind. 
 
Pensana is pleased to announce that it has signed a letter of intent securing 
private wire connection to battery storage operated by Yorkshire Energy 
Park under which it will have access to 4 MW rising to 10 MW of low carbon 
electricity for 10 years. 
 
Pensana will use the low-cost and resilient supply of low-carbon electricity to 
power the Saltend separation facility and then later to power the conversion of 
NdPr Oxide into magnet metal, making it the first in the world to use offshore 
wind to produce ultra-low carbon magnet metal. 
 
The Yorkshire Energy Park will include up to 200 MW of battery storage and is 
located adjacent to Pensana's site within the Saltend Chemicals Park. The £200m 
next-generation energy facility will connect 7 GW of offshore wind to 
industrial consumers via large-scale batteries. The closest wind farm is the 
RWE-operated Humber Gateway located 32 kilometres from Saltend. 
 
Pensana Chairman Paul Atherley commented: 
 
"Through the private wire connection to Yorkshire Energy Park, our aim is to 
become the world's lowest carbon magnet metal producer, with Pensana becoming 
the first company globally to use offshore wind to produce ultra-low carbon 
magnet metal. 
 
In our off-take discussions with the major Automotive OEMs there is increasing 
importance being placed on the security of supply and low-embedded carbon. The 
production of an ultra-low carbon magnet metal further enhances Saltend 
in its rapidly growing importance in the European and US magnet metal supply 
chains." 
 
Yorkshire Energy Park (YEP) Chairman Chris Turner, commented: 
 
"YEP are delighted to be working with Pensana on the world's first rare earth 
processing hub to be powered by offshore wind. The future for energy in the 
Humber estuary is very exciting and YEP is at the forefront of the drive to 
zero-carbon." 
 
 -ENDS- 
 
For further information, please contact: 
 
Shareholder/analyst enquiries: 
 
Pensana Plc 
 
Paul Atherley, Chairman 
 
Tim George, Chief Executive Officer 
 
Rob Kaplan, Chief Financial Officer 
 
Virginia Skroski, Head of Investor Relations & Communications 
IR@pensana.co.uk 
 
Media enquiries: 
 
Finsbury Glover Herring: 
 
Gordon Simpson / Richard Crowley 
Pensana-LON@finsbury.com 
 
The information contained within this announcement is considered by the Company 
to constitute inside information as stipulated under the Market Abuse 
Regulations (EU) No.596/2014. Upon the publication of this announcement via a 
Regulatory Information Service, this inside information will be considered to 
be in the public domain. The person responsible for arranging for the release 
of this announcement on behalf of the Company is Paul Atherley (Chairman). 
 
About Pensana Plc 
 
The electrification of motive power is by far the most important part of the 
energy transition and one of the biggest energy transitions in history. Magnet 
metal rare earths are central to the transition away from internal combustion 
engines and critical to electric vehicles and offshore wind turbines. 
 
Pensana plans to establish Saltend as an independent and sustainable processing 
hub supplying the key magnet metal oxides to a market which is currently 
dominated by China. The US$195 million Saltend facility is being designed to 
produce 12,500 tonnes per annum of rare earth oxides, of which 4,500 - 5,000 
tonnes will be neodymium and praseodymium (NdPr), 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. 
 
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. 
 
Pensana is aiming to establish Saltend as an attractive alternative for mining 
companies 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. 
 
www.pensana.co.uk 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 07, 2022 02:00 ET (06:00 GMT)

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