Inward investing rare earth specialist Pensana – in partnership with the University of Hull and others – has secured a £316,643 grant from Innovate UK.
The company, developing a refining complex at Saltend, has tapped into the organisation’s Climates programme. Working with electric car manufacturer Polestar and tech specialist Route2, as well as academics from Leeds, a low carbon sustainable supply chain for magnets will be developed.
It will use Pensana and Polestar’s environmental, social and governance principles within engineering to review and measure impacts and identify opportunities to further reduce carbon in products seen as vital for the energy transition. Both teamed up last year to deliver the ‘world’s first truly climate neutral car’.
Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The Company’s flagship assets are the Saltend rare earth refinery project in the United Kingdom and Longonjo neodymium and praseodymium (NdPr) Project in Angola.
