Thanks WTT. That’s both the US and Europe have making it quite...

Thanks WTT. That’s both the US and Europe have making it quite clear to OEMs re. China in the past week. E25 will be buoyed by this news heading into the release of the DFS.

Re. Manganese, given E25 can make it cheaper and far more ESG friendly than China via their patent. Add the lack of current supply outside of China, the above news bodes well with how OEMs react to locking up supply.

These numbers won’t be easily bettered.

E25 HPMSM calculated to produce ~1.7kg of CO2 for every 1kg of HPMSM which is approximately.
o ~ 67% lower than competitors in China;
o up to 47% lower than competitors outside China;o ~26% lower than closest non‐China competitor’s optimised case; and
o the E25 process is not yet fully optimised for carbon reduction.

 E25 to explore the integration of renewable energy and other potential carbon reduction strategies going forward.