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Mkango Resources Limited Announces Hypromag Gmbh to Participate in Greene Project
HYPROMAG GMBH TO PARTICIPATE IN GROUNDBREAKING€8 MILLION GRANT FUNDED PROJECT: RE-ENGINEER...
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[{"type":"text","content":"Mkango Resources Limited Announces Hypromag Gmbh to Participate in Greene ProjectHYPROMAG GMBH TO PARTICIPATE IN GROUNDBREAKING€8 MILLION GRANT FUNDED PROJECT: RE-ENGINEERING PERMANENT MAGNETS FOR THE GREEN TRANSITION (GREENE)HighlightsHyProMag GmbH is participating in the €8 million GREENE project (the \"Project\"), funded by the European Commission's Horizon Europe Programme, with 15 partners across industry and academia (https://cordis.europa.eu/project/id/101129888)GREENE aims to push the boundaries of material science by re-engineering rare earth permanent magnets to become more resource-efficient, whilst offering significant improvements to magnetic performanceAs part of the Project, HyProMag GmbH will receive €350,125 to advance its proprietary NeoLeach technology, which is an environmentally friendly and energy efficient chemical process to further upgrade products from the Hydrogen Processing of Magnet Scrap (\"HPMS\") process being commercialised by HyProMag in Germany, UK and United StatesLONDON, UK and VANCOUVER, BC / ACCESSWIRE / August 29, 2024 / Mkango Resources Ltd. (AIM:MKA)(TSX-V:MKA) (the \"Company\" or \"Mkango\") is pleased to announce that HyProMag GmbH is participating in the €8 million grant funded GREENE project, of which HyProMag GmbH will receive €350,125. HyProMag GmbH is 80% owned by HyProMag Limited, a 100% owned subsidiary of Maginito Limited (\"Maginito\"). Maginito is 79.4% owned by Mkango and 20.6% owned by CoTec Holdings (\"CoTec\").The GREENE ProjectRare-earth element (REE) permanent magnets based on Neodymium Iron Boron (Nd-Fe-B) are vital components of high-tech products enabling a green energy future. They are highly valued due to their outstanding properties. They are complex materials consisting of multiple phases and their overall performance is determined by a high remanence, reflected in magnet strength, and a high intrinsic coercivity, making them resistant to demagnetization. Their maximum energy product is thus composed of both remanence and coercivity.The need to operate at temperatures over 100 °C in applications such as traction motors in electric vehicles means that a high coercivity is usually prioritised over a high remanence, which negatively affects power output linked to remanence. In conventionally sintered magnets, NdFeB grains are ...