Pensana 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 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.
Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The company is looking to establish the world’s first fully sustainable magnet metal rare earth oxide producer at the Saltend Chemicals Park in the Humber Local Enterprise Partnership Yorkshire, UK.
