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CoTec via HyProMag to Participate in Innovative Project to Develop the UK's First Circular Supply Chain for Wind Turbine Rare Earth Magnets
VANCOUVER, BC / ACCESSWIRE / September 13, 2023 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (...
About this update from Cotec Holdings Corp
[{"type":"text","content":"CoTec via HyProMag to Participate in Innovative Project to Develop the UK’s First Circular Supply Chain for Wind Turbine Rare Earth MagnetsVANCOUVER, BC / ACCESSWIRE / September 13, 2023 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (\"CoTec\" or the \"Company\") is pleased to announce that HyProMag Limited (\"HyProMag\"), an investee company of CoTec, is collaborating with Europe Metal Recycling Limited (\"EMR\"), the Offshore Renewable Energy (ORE) Catapult, Magnomatics and University of Birmingham in a £1.5 million project, Re-RE Wind (the \"Project\").£1.0 million or 67% of the Project will be funded by Innovate UK's circular critical materials supply chains (CLIMATES) programme. The budget for HyProMag's portion of the Project is circa £350,000 of which 70% will be funded by the grant.Julian Treger, CoTec CEO commented; \"We are very pleased with this latest development at HyProMag that again confirms its position as a key player amongst industry leaders in the rare earth renewable space. This project further supports HyProMag as it scales up HPMS (Hydrogen Processing of Magnet Scrap) and rolls-out the technology internationally. We are looking forward to assist HyProMag in its European endeavors and its roll out in the US.\"About CoTecCoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange (\"TSX- V\") and the OTCQB and trades under the symbol CTH and CTHCF respectively. The Company is an environment, social, and governance (\"ESG\")-focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company transitions into a mid-tier mineral resource producer.CoTec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The Company has made four investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.For further information, please contact:Braam Jonker - (604) 992-5600Forward-Looking Information Cautionary StatementStatements in this press release regarding the Company and...