Firebird Metals (ASX: $FRB) announces co-funding agreement with Sunward

Manganese developer Firebird Metals Limited (ASX: $FRB) has announced its subsidiary, Hunan Firebird Battery Technologies Co Ltd (HFBT), has entered into an agreement with Zhongji Sunward Technology Co, Ltd (Sunward), a leading engineering and large-scale comprehensive design research company in China. The agreement entails Sunward co-funding and evaluating the commercialization of HFBT's unique energy-saving rotary kiln system, with Sunward agreeing to pay a 5% royalty to Firebird for every kiln sold that utilizes the system.

Executive Commentary on the Agreement

Mr Peter Allen, Managing Director of Firebird, expressed his satisfaction with the agreement, stating, 'This agreement with Sunward, which is a leading engineering and research design company in China, is further validation of the excellent and sector-leading work that our team in China are executing. Further, Sunward is a great example of the high-quality calibre of the partners we are attracting in China, as we progress the development of our proposed battery grade manganese plant in China. The agreement with Sunward is a great way for us to determine the commercial viability of the energy recycling system that we have developed and if the technology works on a commercial scale, it could lead to significant operating cost reductions in our manganese sulphate plant. I would like to thank our growing team in China, who continue to develop innovative processes to ensure we move further down the cost curve from the competitive numbers outlined in our Feasibility Study, as we work towards near-term production of high-purity manganese.'

Summary of the Co-Funding Agreement

Firebird Metals Limited has entered into an agreement with Zhongji Sunward Technology Co, Ltd, wherein Sunward will co-fund and evaluate the commercialization of Firebird's unique energy-saving rotary kiln system. Sunward has committed to funding 50% of the costs for a scaled pilot plant, with Firebird funding the remaining 50%. Upon successful completion of the pilot plant trial and confirmation of the viability of the energy recycling system, HFBT will receive a 5% royalty on the revenue from all calciners sold by Sunward that incorporates the energy recycling system. This agreement marks a significant step for Firebird in its pursuit of energy efficiency improvements and the development of a low-cost production of high-purity manganese sulphate. The company's focus on innovation and strategic partnerships positions it well for near-term production and growth in the EV battery sector.