Accelerate Resources Ltd (ASX:AX8) has signed a binding heads of agreement with US-based RedoxBlox Inc to explore the potential supply of manganese products from AX8's Woodie Woodie North Project in Western Australia for the commercialisation and deployment of RedoxBlox advanced thermochemical energy storage technology.
RedoxBlox has recognised the high quality and favourable location of AX8's manganese projects, which will provide a dependable and ethically sourced manganese feedstock to their growing business.
The primary objective is to evaluate whether AX8's high-grade Woodie Woodie North Project can produce a high-value product and meet the required volumes for use in the commercialisation of RedoxBlox's exclusive technology.
RedoxBlox’s tech uses zero-carbon, high-purity manganese and magnesium-based components to store and dispatch renewable energy for industry energy needs.
This partnership marks the first step in AX8's efforts to optimise the value of its critical minerals and proximity to major markets by integrating its business downstream.
Unique collaboration
AX8 chairman Richard Hill said: “We welcome this very exciting and unique collaboration with RedoxBlox that will provide AX8 with the opportunity to test its products for the potential supply of manganese for a novel and disruptive manganese-based energy storage technology.
“This is a key part of our strategic critical minerals journey to add value to our traditional manganese business.
“This is thanks to the high-quality characteristics and favourable location of our manganese deposits at Woodie Woodie North.”
Phased approach
The collaboration is structured through a phased approach, with initial efforts focused on AX8’s testing and supply of manganese materials.
AX8 will also provide results of comminution and metallurgical test-work to enable RedoxBlox to complete the necessary product qualification test work in the US.
RedoxBlox will provide updates on the results of its ongoing demonstration plant test work and any resulting changes in its manganese and magnesium product specifications and volumes.
RedoxBlox pilot-scale thermochemical energy storage module.
Forward plan
AX8 and RedoxBlox will also explore a range of other strategic opportunities working together, including AX8 securing additional supply chain options for other input commodities required by RedoxBlox.
Both parties will potentially cooperate on establishing scale-up and manufacturing facilities to be close to raw material supply chains.
Commercial terms of future supply agreements are still to be negotiated and remain confidential and as such no initial inflows or supply contracts arise under this heads of agreement.
Any future agreements, including any offtake or joint venture developments of AX8’s assets or any development of the technology in Australia, will be subject to the execution of other agreements at the appropriate time.
About RedoxBlox
RedoxBlox is an energy storage technology company based in San Diego, USA, that owns the rights to the patented zero-carbon thermochemical energy storage system based on unique manganese and magnesium-based components.
The company’s patented technology offers a novel and disruptive solution for low-cost, large-scale energy storage requirements, being able to store renewable energy in a high energy density pellet bed that can then convert it to heat that can be directly used in industrial processes or used to run turbines to generate electricity when green electricity is unavailable.
A unique feature of RedoxBlox’s technology is that the thermochemical energy storage module allows natural gas power plant operators to convert existing or new gas turbines into a renewable energy storage system to enable the transition to a low-carbon energy generation future.
RedoxBlox executive chairman James Klausner said: “RedoxBlox is delighted to have entered into this heads of agreement with AX8 in Australia.
“We now look forward to working with their very capable team to work through the planned phases of the heads of agreement as we look to secure high-quality manganese feedstock from AX8’s well-located projects to ethically and reliably supply the rollout of our exciting new energy storage technology worldwide.
“We also hope to work with the AX8 team to consider all other aspects of the supply chain for our business.”
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