Business
Agreement with EIT InnoEnergy
Agreement with EIT InnoEnergy.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 9878N\n Savannah Resources PLC\n 27 May 2020\n \n \n \n \n \n \n \n \n \n \n 27 May 2020\n \n \n \n \n \n \n \n \n Savannah Resources Plc ('Savannah' or the 'Company')\n \n \n \n \n \n Agreement with EIT InnoEnergy\n \n \n Savannah Selected to Receive Support from the Business Investment Platform\n \n \n \n \n \n \n \n \n Savannah is pleased to announce that it has entered into an 'Added Value Services Agreement' with EIT InnoEnergy, as part of the Business Investment Platform ('BIP') launched last September to accelerate the development of a European battery industry. \n EIT InnoEnergy \n is the innovation engine for sustainable energy across Europe and is responsible for the EBA250 initiative, the industrial development activities of the European Battery Alliance ('EBA'). To further accelerate transactions in the European battery value chain, EIT InnoEnergy has co-designed the BIP with industrial players and public and private financial institutions from the EBA network. The ultimate goal is to facilitate\n \n an additional flow of €70 billion of investment into EU based battery-related projects required to meet peak European demand by\n 2023.\n \n \n \n \n \n Through the Added Value Services Agreement (the 'Agreement'), EIT InnoEnergy will:\n \n \n \n \n \n • \n Assist Savannah in securing finance to develop the Mina do Barroso project ('Mina do Barroso' or the 'Project'). This may include providing access to public and private sources of finance across equity, debt, and other funding mechanisms, such as grants. EIT InnoEnergy is also able to make investments itself in innovative companies operating in the sustainable energy sector.\n \n \n • \n Work together with Savannah to apply the most innovative and sustainable state-of-the-art technologies and processes in the Project. \n \n \n • \n Introduce potential customers for the Project's lithium as a supplement to Savannah's own ongoing negotiations with potential major customers.\n \n \n • \n Introduce potential strategic Project investors.\n \n \n • \n Provide market intelligence and wider strategic support in areas such as government and social engagement, regulation and permitting, and industrial partnering through its team in Portugal and across Europe.\n \n \n \n \n \n To ...