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First Tellurium's PyroDelta Energy Signs LOI with Fenix Advanced Materials for Supply of High-Purity Critical Metals
Agreement will ensure domestic, high-quality supply of tellurium and other critical metals to build thermoelectric generators. Vancouver, BC, Canada, December 5
About this update from First Tellurium Corp
[{"type":"text","content":"Agreement will ensure domestic, high-quality supply of tellurium and other critical metals to build thermoelectric generators. Vancouver, BC, Canada, December 5, 2024 – TheNewswire - First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) reports that Fenix Advanced Materials (Fenix), a world leader in the supply of ultra-high purity metals, has signed a Letter of Intent (LOI) with First Tellurium’s 75% owned subsidiary PyroDelta Energy Corp (PyroDelta) to be the preferred supplier of tellurium and other critical metals for manufacture of PyroDelta’s thermoelectric generators. As previously reported by First Tellurium, PyroDelta is developing thermoelectric generators that offer significant advantages over thermoelectric devices currently on the market, including far higher heat tolerances, lighter weight and more robust construction. “We’re very excited about the broad market potential for PyroDelta’s thermoelectric technology,” said Fenix CEO Don Freschi. “Our intent is to ensure they have a stable, North American supply of all the critical metals required to succeed long term.” As part of the LOI agreement, Fenix will also provide other technical or materials support, as required, to help PyroDelta bring the generators to market and sustain ongoing manufacturing and sales. Fenix, based in Trail, British Columbia, is one of few suppliers in the world producing metals with purities as high as 99.99995%. “This agreement marks a crucial step in development and manufacturing for PyroDelta as we progress towards securing our initial sales,” said First Tellurium President and CEO Tyrone Docherty. “We’re especially pleased to be using a domestic critical metals supplier, greatly reducing our chances for supply disruption and keeping the business within North America.” Docherty noted that, considering China’s December 3rd announcement that it would begin banning the export of certain rare minerals to the United States, securing domestic supplies of critical metals becomes more important. “China is the world’s largest producer of tellurium, by far,” said Docherty. “And while China hasn’t yet indicated intent to restrict tellurium exports, they have that leverage and could certainly use it as this trade war expands. The thermoelectric device requires other critical metals, as well, that could be affected with the latest export bans. In any event,...