Ann: FYI Resumes Control of HPA Project, page-104

https://patents.google.com/patent/AU2019100630A4/en?oq=AU2019100630A4

RIPperoni Iggytoni

I do wonder if Alcoa realised there wasn't actually much real IP that FYI developed, and that there was no 'moat' protecting them. They also probably learned what is self-evident to anyone involved in HPA research; the same material input will broadly fall in line with similar materials in terms of economic performance. Alcoa does produce crude alumina cheaply from bauxite using the Bayer process, and they probably thought about using the Nippon Light Metals / Sumitomo route of converting sodium aluminate into HPA. But again, this will end up being broadly the same cost as NLM/Sumitomo.

The competitor space is defined by A4N, as well as Chemex. KRR seems to have dudded out, although they now have $10M to blow on it, so they may restart. CMX might have something interesting, but no one gives them credit because their scoping study parameters (OPEX especially) were kept opaque, which makes you wonder.

Then you have Suvo and Dingo HPA, with the bold idea of converting scrap aluminium metal into HPA, which has been shown possible via various techniques, including alkolysis and NaOH or HCl dissolution - both of which carry significant material costs. So we'll see what "IP" Dingo has that's really worth all that coin. Either way, SUV seems to have qit the kaolin to HPA game via the Dingo transaction.

Interesting space this, seeing who's doing what.