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Perpetua Resources Announces Antimony Supply Agreement for Ambri Battery Production
Perpetua's Antimony Will Power Ambri's Low-Cost Battery for Long-Duration, Daily Cycling Energy Storage Committed Amount Sufficient to Generate Over 13 Gigawatt
About this update from Perpetua Resources Corp.
[{"type":"text","content":" Perpetua's Antimony Will Power Ambri's Low-Cost Battery for Long-Duration, Daily Cycling Energy Storage Committed Amount Sufficient to Generate Over 13 Gigawatt Hours of Storage, Equivalent to Over 8x the Size of the Entire US Energy Storage Market in 2020 Solidifies Perpetua's Standing as a Leading ESG-Focused Mining Company Enabling the Green Energy Transition & Restoring the Environment BOISE, ID, Aug. 9, 2021 /CNW/ - Perpetua Resources Corp. (Nasdaq: PPTA) / (TSX: PPTA) (\"Perpetua Resources\" or the \"Company\") has entered into an agreement (the \"Agreement\") to supply a portion of antimony production from the Stibnite Gold Project to Ambri Inc. (\"Ambri\"), establishing the foundation to help facilitate the decarbonization of energy grids in the U.S. and around the world. Perpetua's Stibnite Gold Project, located in central Idaho, will provide Ambri with antimony from the only responsible and domestically mined source of the critical mineral in the U.S. Ambri, a U.S. company, has developed an antimony-based, low-cost liquid metal battery for the stationary, long-duration, daily cycling energy storage market. Ambri batteries combine technological innovation with commercial applications for low-cost, long lifespan and safe energy storage systems that will increase the overall contribution from renewable sources to help enable the transition to green, carbon-free power grids. \"This agreement is a meaningful step in support of the current administration's goal of achieving 100% clean electricity in the U.S., while prioritizing the domestic manufacturing of battery technology,\" said Laurel Sayer, CEO of Perpetua Resources. \"Perpetua continues to show how a modern mining company can not only be an essential part of the clean energy value chain, but also be key to the solution to the world's climate challenges.\" The signing of the Agreement coincides with Ambri's announcement that it secured $144 million in new financing led by Reliance New Energy Solar Ltd. (a wholly owned subsidiary of Reliance Industries Limited), Paulson & Co. Inc., Bill Gates, Fortistar and Goehring & Rozencwajg Associates. Additionally, Reliance has been chosen as Ambri's joint venture partner for battery development in India as part of its broader plans to invest $10 billion to develop the Dhi...