Meanwhile first movers
COMMERCIALISE AUTOMATED PRE-PROCESSING OF HARD DISC DRIVES, LOUDSPEAKERS AND ELECTRIC MOTORS FOR HYPROMAG
MAGINITO SECURES EXCLUSIVE AGREEMENT WITH INSERMA TO COMMERCIALISE AUTOMATED PRE-PROCESSING OF HARD DISC DRIVES, LOUDSPEAKERS AND ELECTRIC MOTORS FOR HYPROMAG
· Maginito Ltd ("Maginito") (Mkango 79.4%, CoTec 20.6%) andInserma Anoia S.L ("Inserma")have entered into a binding and exclusive agreement (the "Agreement") to collaborate on the optimisation, commercialisation and roll-out of pre-processing technologies for HyProMag in theUnited Kingdom,Germany,the United Statesand other regions.
· The latest mobile Inserma unit for hard disc drives ("HDD") can be co-located at hyperscale data centres, shredding, recycling or HyProMag facilities. These Inserma units rapidly remove (at <3 seconds per HDD) theVoice call Motor("VCM") containing the rare earth magnet, providing a highly concentrated feed for subsequentHydrogen Processing of Magnet Scrap ("HPMS") by HyProMag - the simultaneous removal of the centre spindle also facilitates downstream shredding of the rest of the HDD
· The technology not only provides a steady neodymium ("NdFeB") magnet scrap feed to HyProMag, but also has major benefits for sustainable, secure and low cost recycling of HDDs
· The ultimate goal of the collaboration is to enable deployment of hundreds of pre-processing units, across multiple jurisdictions, providing pre-processing solutions for a range of end-of-life applications,includingHDDs, loudspeakers and electric motors,and generating feed for HyProMag Limited's ("HyProMag") short loop rare earth magnet recycling process
· The Agreement includes the purchase of an initial three units for pre-processing HDDs by HyProMag and related institutions for theUK,Germanyandthe United Statesto catalyse the roll-out of the technology
· Mkango, CoTec and HyProMag are engaging with major hyperscale data centre providers, shredders, recycling companies and other groups which are showing strong interest in deploying the technology in parallel with HPMS
https://www.voxmarkets.co.uk/rns/announcement/838460b7-59aa-4bfb-acef-fabdb25099ae/
(20min delay)