Pensana PLC announces A World First Wind Powered Hub

Pensana PLC (LSE: PRE)

Announced that it has signed a letter of intent securing private wire connection to battery storage operated by Yorkshire Energy Park under which it will have access to 4 MW rising to 10 MW of low carbon electricity for 10 years.

Pensana will use the low-cost and resilient supply of low-carbon electricity to power the Saltend
separation facility.

 

.

Pensana PLC LSE: PRE
Stage Development
Metals Rare Earth Elements
Market cap £141 million @60p
Location Yorkshire, UK.

 

.

Pensana PLC


7 July 2022


THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

.


Pensana Plc

.

Pensana Plc and Yorkshire Energy Park announce the world’s first rare earth processing hub powered by offshore wind.

 

.
Pensana PLC (LSE: PRE)  (“Pensana” or the “Company”) is pleased to announce that it has signed a letter of intent securing private wire connection to battery storage operated by Yorkshire Energy Park under which it will have access to 4 MW rising to 10
MW of low carbon electricity for 10 years.


Pensana will use the low-cost and resilient supply of low-carbon electricity to power the Saltend
separation facility and then later to power the conversion of NdPr Oxide into magnet metal, making it
the first in the world to use offshore wind to produce ultra-low carbon magnet metal.


The Yorkshire Energy Park will include up to 200 MW of battery storage and is located adjacent to
Pensana’s site within the Saltend Chemicals Park.

The £200m next-generation energy facility will connect 7 GW of offshore wind to industrial consumers via large-scale batteries.

The closest wind farm is the RWE-operated Humber Gateway located 32 kilometres from Saltend.


Pensana Chairman Paul Atherley commented:


“Through the private wire connection to Yorkshire Energy Park, our aim is to become the world’s lowest
carbon magnet metal producer, with Pensana becoming the first company globally to use offshore wind
to produce ultra-low carbon magnet metal.

.


“In our off-take discussions with the major Automotive OEMs there is increasing importance being placed
on the security of supply and low-embedded carbon. The production of an ultra-low carbon magnet metal
further enhances Saltend in its rapidly growing importance in the European and US magnet metal supply
chains.”

To read the full news release, please click HERE

.

.

=======

.

 

Global Mining Finance Conferences – devised and produced by industry experts are the must-attend events for miners seeking finance for projects – and for financiers seeking projects to back.

.

.

Global Mining Finance events offer:

  • Fantastic networking opportunities in a friendly and relaxed atmosphere;
  • Speaker programmes with non-duplicated presentations;
  • Expert event moderation and audience question opportunities;
  • Blue-chip keynote speakers on current topics and projects;
  • Free delegate attendance – Lunch and refreshments are included.

.

www.global-mining-finance.com