Business
Maginito Secures Exclusive Agreement With Inserma To Commercialise Automated Pre-Processing of Hard Disc Drives, Loudspeakers and Electric Motors for Hypromag
Maginito Ltd ("Maginito") (Mkango 79.4%, CoTec 20.6%) and Inserma Anoia S.L ("Inserma") have ente...
About this update from Mkango Resources Ltd.
[{"type":"text","content":"Maginito Secures Exclusive Agreement With Inserma To Commercialise Automated Pre-Processing of Hard Disc Drives, Loudspeakers and Electric Motors for HypromagMaginito Ltd (\"Maginito\") (Mkango 79.4%, CoTec 20.6%) and Inserma Anoia S.L (\"Inserma\") have entered into a binding and exclusive agreement (the \"Agreement\") to collaborate on the optimisation, commercialisation and roll-out of pre-processing technologies for HyProMag in the United Kingdom, Germany, the United States and other regions.The latest mobile Inserma unit for hard disc drives (\"HDD\") can be co-located at hyperscale data centres, shredding, recycling or HyProMag facilities. These Inserma units rapidly remove (at <3 seconds per HDD) the Voice call Motor (\" VCM\") containing the rare earth magnet, providing a highly concentrated feed for subsequent Hydrogen Processing of Magnet Scrap (\"HPMS\") by HyProMag - the simultaneous removal of the centre spindle also facilitates downstream shredding of the rest of the HDDThe technology not only provides a steady neodymium (\"NdFeB\") magnet scrap feed to HyProMag, but also has major benefits for sustainable, secure and low cost recycling of HDDsThe ultimate goal of the collaboration is to enable deployment of hundreds of pre-processing units, across multiple jurisdictions, providing pre-processing solutions for a range of end-of-life applications,includingHDDs, loudspeakers and electric motors, and generating feed for HyProMag Limited's (\"HyProMag\") short loop rare earth magnet recycling processThe Agreement includes the purchase of an initial three units for pre-processing HDDs by HyProMag and related institutions for the UK, Germany and the United States to catalyse the roll-out of the technologyMkango, CoTec and HyProMag are engaging with major hyperscale data centre providers, shredders, recycling companies and other groups which are showing strong interest in deploying the technology in parallel with HPMSLONDON, UK & VANCOUVER, BC / ACCESSWIRE / September 3, 2024 / Mkango Resources Ltd. (AIM:MKA)(TSXV:MKA) (\"Mkango\") and CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (\"CoTec\") are pleased to announce that Maginito), which is 79.4% owned by Mkango and 20.6% owned by CoTec, and Inserma have entered into a binding and exclusive collaboration agreement. This collaboration will initially be focused on the...