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5E Advanced Materials Signs Letter of Intent With Estes Energetics to Collaborate in Producing Boron Based Materials for Solid Rocket Motors
HIGHLIGHTS 5E signs Letter of Intent with Estes Energetics to collaborate in producing boron advanced materials for solid rocket motors to support the U.S.
About this update from 5e Advanced Materials, Inc.
[{"type":"text","content":"HIGHLIGHTS 5E signs Letter of Intent with Estes Energetics to collaborate in producing boron advanced materials for solid rocket motors to support the U.S. space and military industriesCollaboration aligns with U.S. government initiatives and programs to onshore production of critical materials and to lessen reliance on Chinese supply chainEstes Energetics is a U.S. based company and supplier to the U.S. Department of DefenseLOI aligns with 5E’s strategy to become a vertically integrated global leader in the supply of boron specialty and advanced materials HOUSTON, Dec. 13, 2022 (GLOBE NEWSWIRE) -- 5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (“5E” or the “Company”), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas (Fort Cady) Complex, has entered into a non-binding letter of intent (“LOI”) with Estes Energetics to collaborate in producing boron advanced materials for solid rocket motors to support the U.S. space and military industries. Under the terms of the LOI, 5E and Estes will work towards a binding agreement for the supply of boron advanced materials, which are used in the manufacture of solid rocket motor ignitors. 5E and Estes Energetics will also consider a broader collaboration focused on partnering on production facilities, business development activities and sharing technical know-how for the purpose of developing boron advanced materials and proprietary intellectual property targeting space and military applications. The boron advanced materials used by Estes Energetics and under the terms of the LOI, align with recent U.S. government initiatives and programs as they are critical in military munitions and civilian applications and are subject to supply risk given overseas supply concentration and U.S. reliance on imports. Estes Energetics is a defense and industrial company that researches, designs, engineers, manufactures, tests, and integrates solid-propellant rocket motors, energetics, critical chemicals, and associated technologies for government and commercial customers. It combines practical propulsion solution development with advanced aerospace research and development under one team. Estes Energetics has engineering, manufacturing, and test facilities in Penrose, Colorado and Minden, Louisiana. Estes Energetics was spun off from Estes I...