What does AEM get out of this?
IMO any commercial agreement will be limited to the supply of raw materials for AEM's upstream business. This would only represent a tiny fraction of ADN's intended output and not at all economically significant.
The only value add here for ADN would be commercial validation of its product for HPA feedstock which opens up the possibility of more offtakes to HPA manufacturers.
This revenue stream would be insignificant compared to sales into the ceramics and concrete markets.
Fluff announcement IMO
Ann: Andromeda signs HPA MoU with AEM Technologies, page-74
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