TIDMPRE 
 
18 July 2022 
 
                 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
                                  Pensana Plc 
 
                         ("Pensana" or the "Company") 
 
                   Pensana awarded Green Bond Certification 
 
Pensana is pleased to announce that it has received certification from CICERO, 
the leading independent provider of assessments on green bond frameworks. 
 
CICERO Shades of Green (CICERO) is Norway's foremost institute for 
interdisciplinary climate research, which is internationally recognised as a 
leading provider of independent reviews of green bonds. It is independent of 
the financial and corporate sectors and a multiple award winner of 
International Environmental Finance Assessment Awards. 
 
CICERO has rated Pensana as in line with its principles, based on the Company's 
plans to create a sustainable magnet metal supply chain through a rare earth 
processing facility at the Saltend Chemicals Park in the Humber Freeport and 
mining in Angola. 
 
CICERO has also rated Pensana's operations as LIGHT GREEN with a Governance 
score of GOOD. The rating refers to transition activities and projects that 
reduce emissions or provide other environmental benefits. 
 
Pensana Chairman Paul Atherley commented: 
 
"From the outset, the Pensana team has set out to develop an independent and 
sustainable magnet metal supply chain, and it is extremely gratifying to 
receive a positive rating from an internationally recognised assessment agency 
of CICERO's standing. 
 
The CICERO certification supports our ambition to establish in the UK 
world-class production of the critical magnet metals vital to the Electric 
Vehicle and Offshore Wind industries. 
 
Our aim is to produce ultra-low carbon magnet metal powered by private wire 
link to Offshore Wind at Saltend, supplied with high-value feedstock from 
Longonjo powered by hydroelectricity. 
 
The CICERO assessment will be important for the proposed green bond issuance as 
it will broaden the range of institutional investors interested in the 
offering." 
 
About CICERO Shades of Green 
 
CICERO is a leading independent provider of second opinions on 
sustainability-linked bonds and financing frameworks to determine their 
environmental robustness. CICERO's Second Opinions build on renowned climate 
research, drawing on competence from the CICERO Centre for International 
Climate Research, one of the world's foremost institutes for interdisciplinary 
climate study. In the Second Opinion, CICERO assesses whether a given activity 
or technology supports a low-carbon and climate-resilient society in the 
long-term. 
 
The innovative methodology used by CICERO is aligned to the International 
Capital Markets' Association's (ICMA) Green Bond Principles and issuance of an 
opinion provides robust independent verification that Pensana's Saltend project 
is aligned to best practice in the climate financing sector. 
 
 -ENDS- 
 
For further information, please contact: 
 
Shareholder/analyst enquiries: 
 
Pensana Plc 
 
Paul Atherley, 
Chairman 
IR@pensana.co.uk 
 
Tim George, Chief Executive Officer 
 
Rob Kaplan, Chief Financial Officer 
 
Virginia Skroski, Head of Investor Relations & Communications 
 
Media enquiries: 
 
FGS Global: 
 
Gordon Simpson / Richard Crowley 
Pensana-LON@fgsglobal.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 18, 2022 02:46 ET (06:46 GMT)

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