Element 25 secures US$166 Million US DoE grant for Manganese Project [Video]

Element 25 Ltd (ASX:E25, OTC: ELMTF) managing director Justin Brown joins Proactive’s Tylah Tully to discuss the company’s latest updates.

It has been selected for award negotiations for a US$166 million grant from the US Department of Energy (DoE) as part of the Battery Materials Processing Grant Program.

The funding will support the construction of a high-purity manganese sulphate monohydrate (HPMSM) facility in Louisiana, USA, which will produce battery-grade manganese for use in lithium-ion batteries. The 230,000 square-foot facility aims to be environmentally sustainable and is considered critical to the US battery supply chain.

The DoE grant adds to US$115 million in funding already committed by General Motors and Stellantis, which includes offtake and financing agreements. Combined, these funds will cover up to half of the construction costs, estimated at US$289 million. Element 25 is now working to secure the remaining financing required to commence construction. The final binding agreement for the DoE grant is expected to be completed shortly.

This project is part of the US initiative to expand domestic battery materials processing capabilities, with the DoE program providing up to US$3 billion in grants to boost the US battery supply chain.

Element 25 has also launched its investor hub, a dedicated platform for investors to learn more about Element 25 and its latest activities during this period of rapid growth for the company.

You can sign up here: https://element25.com.au/auth/signup

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