MTM Formally Exercises its Option for Global Licence Agreement over Flash Joule Heating

MTM Critical Metals (ASX:MTM) (MTM or the Company) advises that Flash Metals Pty Ltd has elected to exercise its FJH Option and enter into a joint research and development agreement. The Parties will use their best endeavours to complete and execute a worldwide exclusive license by 20 May 2024.This date can be extended by mutual written agreement between the parties.

---

Highlights:

• Flash Metals Pty Ltd has formally exercised its Option (“FJH Option”) to license the patented Flash Joule Heating technology.
• The worldwide exclusive license will include:
  • the recovery of rare earth elements (REE’s), metals and metallic compounds from Coal Fly Ash, Bauxite Residue (Red Mud), Ores, Bitumen and Coal;
  • the use of processed coal fly ash waste for the lower carbon building materials including cement and concrete;
  • the recovery of REE, metals (including gold, silver, platinum and palladium) and metallic compounds from E-Waste (electronic equipment, consumer electronics, power tools, print circuit board, CPU’s and smartphones); and
  • the recycling of degraded or end of life Lithium-Ion Batteries to recover metals including lithium, manganese, copper, cobalt and nickel.
• Directors John Hannaford and Lachlan Reynolds visited William Marsh Rice University and KnightHawk Engineering in Houston, Texas this week to inspect the technology hub and progress on the Flash Joule Heating prototype.

By securing the licence, the Company will hold the rights to develop the patented Flash Joule Heating (FJH) technology in relation to specific applications (see below for more detail). FJH is a novel processing and recycling technology being developed to extract critical metals including REE, titanium, nickel, cobalt and lithium from waste material including lithium-ion batteries, eWaste, Coal Fly Ash (CFA) produced by coal-fired power stations or bauxite residue (red mud) derived from aluminium production.

MTM Managing Director, Mr Lachlan Reynolds said “We are very excited to be able to formally exercise the FJH Option and proceed to licence the Flash Joule Heating technology. The development work conducted by Rice and KnightHawk Engineering to date, which we have seen in person, has given us confidence to scale up the technology and to commercialise it. The technology applications are extremely exciting and have huge potential as the world looks to decarbonise and secure critical mineral supply chains.”

Click here for the full ASX Release

This article includes content from MTM Critical Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

https://ift.tt/oTAGnVp