Element 25 and Veolia partner for new HPMSM refinery in Louisiana
–News Direct–
Element 25 Ltd (ASX:E25 OTCQX:ELMTF) managing director Justin Brown sits down with Proactives Jonathan Jackson to discuss the collaboration with Veolia North America to establish a site for a high-purity manganese sulphate monohydrate (HPMSM) refinery in Burnside, Ascension Parish, Louisiana.The partnership entails E25 acquiring approximately 35 acres of land adjacent to Veolia's existing sulphuric acid production facility. This location will provide E25 with critical resources such as sulphuric acid, supplied by Veolia through a 20-year fixed-rate pipeline agreement. Additional services including natural gas, water and return water are included in the terms, alongside a temporary laydown area for use during the refinery's construction.This initiative is a component of E25's broader Louisiana HPMSM Project, aiming to secure project financing and finalise investment decisions by August 30, 2024. A pivotal step in the project's progression will be obtaining an air permit essential for commencing construction.Brown highlighted the strategic importance of the chosen site, noting its capacity to support the construction of the USAs first HPMSM facility. The agreement between E25 and Veolia involves several definitive agreements scheduled for execution by June 30, 2024.E25s venture is bolstered by a $85 million investment from General Motors and additional support from Stellantis N.V., enhancing the project's financial foundation. The synergy with Veolia's operations promises economic benefits for Ascension Parish and supports broader energy transition goals.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
View source version on newsdirect.com: https://newsdirect.com/news/element-25-and-veolia-partner-for-new-hpmsm-refinery-in-louisiana-584368820
ELEMENT 25 LIMITED
COMTEX_452136143/2655/2024-05-09T15:01:21
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