AN Ellesmere Port manufacturing company has been hailed for its hard work and dedication to the rare earth permanent magnet industry which is key for future technologies such as electric vehicles. The town s MP Justin Madders was full of praise for Less Common Metals (LCM) following a recent tour of the North Road factory. He met with director Ian Higgins to learn about the critical rare earth element – neodymium iron boron. LCM specialises in products based on rare earth elements which are fundamental for future technologies such as electric vehicles and wind turbines. Mr Madders visit comes after the SME manufacturing firm secured further support from the UK Government.
PENSANA PLC
Establishing a World-Class Sustainable Supply
of critical Rare Earths for the Green economy
Pensana Plc (LSE: PRE) (“Pensana” or “the Company”) today announces the Company has adopted a business plan to seek to establish, subject to funding, a world-class, independent and sustainable supply chain of the rare earth metals vital for electric vehicle, wind turbine and other strategic industries. This involves:
Pensana’s Chairman, commented:
Paul Atherley
“Saltend has the potential to become the first major separation facility to be established in over a decade – one of only three major producers outside – at a critical juncture when depends on for 98% of its rare earth magnets.
UK APC awarding £9.4M to 22 low-carbon vehicle feasibility studies
To support the future of green automotive manufacturing and accelerate the UK’s transition to net-zero emission vehicles, the Advanced Propulsion Centre (APC) has guided £9.4 million (US$13 million) in public funding to 22 feasibility studies looking to scale up the industrialization of low-carbon emission vehicle technologies.
In the second round of funding awarded as part of the APC’s Automotive Transformation Fund (ATF) the 22 studies will explore the feasibility of UK-based battery production, the development of motors & drives and fuel cell technologies as well as recycling solutions.
With grants awarded to companies based across the UK, the studies will be commercially-led and evaluate the viability of developing large-scale manufacturing facilities, advanced manufacturing processes and the product scale-up of essential technologies for a future net-zero vehicle supply chain.
Britishvolt has appointed Guggenheim Securities and Barclays as advisers to look into options, including listing in the US through a merger with a special purpose acquisition company, or SPAC, its founder and chief executive Orral Nadjari said in an interview.
It is the first time the company has talked in detail about its plans to finance the project that will play a central role in delivering on Prime Minister Boris Johnson’s green plan.
“The SPAC market is very interesting and is the result of the very mature capital markets in the US that have identified the industrial revolution that is happening now, when we go from the era of the internal combustion engine towards an era of electrification,” Mr Nadjari said. “There will be a lot of scale-ups that will need a lot of capital.”