Pensana Plc Pensana and partners win Innovate UK grant to develop a low carbon RE supply chain
20 Septembre 2023 - 8:00AM
UK Regulatory
TIDMPRE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Pensana Plc
("Pensana" or the "Company")
Pensana and partners win Innovate UK grant to develop a low carbon RE supply
chain
Pensana, working in partnership with Polestar, Route2 and the Universities of
Leeds and Hull, has been awarded £316,643 in grant funding by Innovate UK under
its CLIMATES programme. The partnership will work together to develop a low
carbon sustainable supply chain for rare earth magnets.
The Project is backed by the UK Government and will use Pensana and Polestar's
low carbon and ESG engineering to review and measure impacts, and identify
opportunities, to further reduce carbon in the rare earth products vital for the
energy transition.
Nusrat Ghani, Minister of State at the Department for Business and Trade, has
highlighted the importance of rare earths in the CLIMATES programme saying "Rare
earth elements underpin so much of what makes everyday life and work possible,
from the cars we drive to the phones we use. It is essential that, in a rapidly
changing world, we do all we can to ensure resilient supplies of these and other
critical minerals.We are laser-focused on securing robust supply chains, for the
growing, green industries that will deliver jobs and prosperity across the UK in
the decades to come."
Danny McNeice, Pensana's Sustainability Manager commented "We believe Polestar 0
will set the standard for the electric vehicle industry, while Route2 has
developed market-leading socio-economic impact measurement software and we are
delighted to work with them and our academic partners at Leeds and Hull
Universities to establish a UK-centric sustainable rare-earth supply chain from
"mine to magnets".
The CLIMATES programme is a £15 million fund set up to develop critical mineral
supply chains within the UK. Strand 1 was launched in February 2023 with a focus
on stimulating research on rare earths across the UK.
Pensana has already developed a strong approach to sustainability through the
publishing of its Blueprint for Sustainable Rare Earths and has, through market
-leading low-carbon design and renewable power agreements at both its UK and
Angolan projects, placed itself well on the way to achieving its strategic goal
to be a leading low embedded carbon supplier of rare earth products on the
market.
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.
- ENDS -
For further information, please contact:
Shareholder/analyst enquiries:
Pensana Plc
Paul Atherley, ChairmanIR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
This information was brought to you by Cision http://news.cision.com
END
(END) Dow Jones Newswires
September 20, 2023 02:00 ET (06:00 GMT)
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