Tungsten West PLC Fusion Energy Collaboration
12 Juin 2023 - 8:00AM
RNS Non-Regulatory
TIDMTUN
Tungsten West PLC
12 June 2023
12 June 2023
Tungsten West Plc
("Tungsten West", the "Company" or the "Group")
Fusion Energy Collaboration
Tungsten West (AIM:TUN), the mining company focused on
restarting production at the Hemerdon tungsten and tin mine
("Hemerdon" or the "Project") in Devon, in the UK, is pleased to
announce that it has entered into a strategic collaboration with
Oxford Sigma, a fusion energy company based in Oxfordshire, UK, to
explore and establish critical supply pathway options enabling the
use of the critical material, tungsten, for fusion energy
deployment.
Fusion energy is potentially a near-limitless source of
carbon-free energy for the future, and tungsten will be a key
component in the process, required for radiation shielding and
plasma-facing components within fusion energy devices. Fusion
energy is actively being developed to reach commercialisation with
over US$5 billion of private investment worldwide. However, without
a viable commercial pathway for the supply of tungsten from raw
materials to the fusion community, the commercialisation of fusion
energy faces significant delays.
The strategic collaboration with Oxford Sigma will provide a
mutual combination of skills and assets in order to secure the
source of raw tungsten material in the UK, with the goal of
deploying these tungsten-based components across the globe.
Neil Gawthorpe, CEO of Tungsten West, commented: "We are excited
to enter into this collaboration agreement with Oxford Sigma which
represents a significant step forward in advancing the development
of sustainable and clean energy solutions. Tungsten is a key
material required in fusion energy, essential in several key
application areas within the reactors and, as we progress to
production at Hemerdon, we are in a position to supply tungsten
globally.
By leveraging our combined expertise and resources with Oxford
Sigma, we are proud to be at the forefront of, and are poised to
unlock, the full potential of tungsten for fusion energy
deployment, a potentially limitless carbon free energy source for
the future."
Dr Thomas Davis, CTO of Oxford Sigma, commented: "Commercial
fusion power stations are enroute to become the ultimate energy
source. We are excited to partner with Tungsten West to connect the
UK fusion community with the raw materials necessary to make fusion
work. Most of the approaches to fusion that Oxford Sigma develops
depend on large quantities of raw tungsten for various applications
(radiation shielding, plasma-facing components, and liquid metal
resistance coatings). By collaborating with Tungsten West, the door
is open to secure this critical material supply to ensure that the
country, and the world, can deploy the fusion reactors of the
future."
About Oxford Sigma
Oxford Sigma tackles energy security and climate change by
accelerating the commercialisation of fusion energy. Oxford Sigma's
mission is to deliver materials technology, materials solutions,
and fusion design services in order to accelerate the
commercialisation of fusion energy. Oxford Sigma is internationally
recognised as a key fusion materials and technological leader
within the market. The company operates in the United States,
United Kingdom, European Union, Canada, and Japan.
Ends
For further information, please contact:
Enquiries
Tungsten West Strand Hanson
Neil Gawthorpe/ Nigel Widdowson (Nominated Adviser and Financial
Tel: +44 (0) 1752 278500 Adviser)
James Spinney / James Dance /
Abigail Wennington
Tel: +44 (0) 207 409 3494
BlytheRay VSA Capital Limited
(Financial PR) (Financial Adviser and Joint
Tim Blythe / Megan Ray Broker)
Tel: +44(0) 20 7138 3204 Andrew Raca / Andrew Monk
Email: tungstenwest@blytheray.com +44 (0)20 3005 5000
Hannam & Partners
(Joint Broker)
Andrew Chubb / Matt Hasson /
Jay Ashfield
+44 (0)20 7907 8500
Follow us on twitter @TungstenWest
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