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Euro Manganese signs MoU with Statkraft to sign renewable energy supply contract for Chvaletice Manganese Project, The Canadian Business Journal

VANCOUVER, British Columbia, September 26, 2022 (GLOBE NEWSWIRE) — Euro nese Manga Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (“Company” Also “EMN“) has signed a non-binding memorandum of understanding (“Memorandum“) In collaboration with the Norwegian state-owned company Statkraft, the Euro Manganese flagship Chvaletice Manganese project (CMP” or “plan”) in the Czech Republic. Statkraft is Europe’s largest renewable energy generator.

We are Baringa Partners LLP (“Balinga“) last year established long-term electricity price forecasts within the European Union and identified strategic partners to procure long-term and economically viable green energy for the CMP. , which is one of the results of this ongoing process.

The MoU will lay the groundwork for a strategic cooperation between Euro Manganese and Statkraft to support the ongoing net-zero goal of the project’s proposed treatment plant. The aim is to establish long-term corporate power purchase agreements to provide carbon-free power to projects in conjunction with Statkraft’s renewable power supply portfolio. According to CMP’s current estimated construction and commissioning schedule, power delivery is expected to begin sometime between 2026 and 2027.

The company’s recently released CMP life cycle assessment results highlight the net benefits of sourcing electricity from carbon-free sources, thereby cutting its net global warming potential in half.

Dr. Matthew James, President and CEO of Euro Manganese, said:We look forward to partnering with Statkraft and working towards a final long-term power purchase agreement. Sourcing long-term green energy to power the Chvaletice project is an important step in realizing our commitment to producing low-carbon, high-purity manganese products. While the Chvaletice project’s environmental certifications are already strong, electricity is a major input in our process, and sourcing 100% renewable energy allows us to reduce the project’s carbon footprint by approximately 50%. Not only does this demonstrate our commitment to operating responsibly, it also gives us a competitive edge in our discussions with potential customers that focus on: increase. Supply base carbon footprint and ESG qualifications. We are proud to be part of the energy transition, not only by using renewable energy to manufacture our products, but also by the way our products are used in EV batteries.

Carsten Poppinga, SVP Trading & Origination at Statkraft, said: “The ability to procure environmentally friendly electricity at competitive prices is a key factor in investment decisions made by energy-intensive industries wishing to establish new business ventures. We want to support their entrepreneurial spirit in giving and creating a positive business case.”

About Euromangan

Euro Manganese Inc. is a battery materials company focused on becoming a leading, competitive and environmentally sound manufacturer of high-purity manganese for the electric vehicle (EV) industry and other high-tech applications. We are developing his Chvaletice manganese project in the Czech Republic. This is an opportunity for valuable recycling and restoration from your own waste, including reprocessing old tailings from decommissioned mines. The Chvaletice project is the only source of manganese in the European Union and is strategically positioned to provide the battery supply chain with critical raw materials to support the global transition to a circular low-carbon economy. .

About Statcraft

Statkraft is a leading international hydropower company and Europe’s largest renewable energy producer. The Group produces hydro, wind, solar and gas-fired power and supplies district heating. Statkraft is a global company in the energy markets business. Statkraft has 4,800 employees in 20 countries.

Release permission from the CEO of Euro Manganese Inc.

Neither the TSX Venture Exchange, its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) nor ASX are responsible for the adequacy or accuracy of this release.

Inquiries about Euro Manganese Co., Ltd.

Dr. Matthew James
President and CEO
+44 (0)747 229 6688

Louise Burgess
Senior Director, Investor Relations & Communications
+1 (604) 312-7546
[email protected]

Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: www.mn25.ca

Forward-Looking Statements

Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and the actual results, performance or achievements of the Company or the project without regard to future results, performance, performance, performance, or achievements expressed or implied by such forward-looking statements. or other factors that could cause results to differ materially. statement or information. Such statements shall not include “could”, “could”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, It can be identified by the use of words such as “anticipate” and “estimate”. , “scheduled,” “anticipate,” “predict,” and other similar terms, or that a particular action, event, or outcome “could,” “could,” ” It says ‘could’, ‘could’, or ‘could’. or achieved.

Any such forward-looking information or statements relate to future events or future performance of the Company and its business and operations. Other statements regarding the availability of power sources in Statkraft’s portfolio, the company’s ability to procure long-term green energy, the company’s ability to reduce its carbon footprint, and the continued development of the Chvaletice manganese project.

Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements and information involve significant risks and uncertainties, are not guarantees of future performance or results, and are accurate indicators of whether such results will be achieved. not necessarily. Risks associated with volatile pricing due to inflation, social unrest and other factors, exchange rate fluctuations and “risk notices” and our MD&A for the year ended September 30, 2021 and its most recent annual Other factors described elsewhere in the information form.

The forward-looking statements contained in this news release are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, we undertake no obligation to update or revise any forward-looking statements contained herein to reflect events or circumstances after the date of this news release.

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Euro Manganese signs MoU with Statkraft to sign renewable energy supply contract for Chvaletice Manganese Project, The Canadian Business Journal

Source link Euro Manganese signs MoU with Statkraft to sign renewable energy supply contract for Chvaletice Manganese Project, The Canadian Business Journal

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