Element 25 progresses USA HPMSM refinery plans

Element 25 Limited (E25) (ASX: E25; OTCQX: ELMTF) is advancing its construction of a high-purity manganese sulphate (HPMSM) refinery in Louisiana, USA. The refinery aims to supply domestic HPMSM to the US electric vehicle battery industry. The project is a key pillar in Element 25's strategic plan to position itself as a leading provider of high-quality ethically sourced battery-grade manganese to support global electrification efforts.

Executive Commentary on Progress and Strategic Vision

E25 aims to be a leading source of high quality, vertically integrated, traceable and ESG and IRA-compliant battery material to the global electric vehicle industry. Construction of our HPMSM facility in the USA - the first of its kind there - is a key pillar to the strategic plan which aims to position E25 as the industry leading provider of high quality ethically sourced battery-grade manganese to support global electrification efforts.

Summary of Progress and Future Outlook

Element 25 (E25) is making significant progress in the construction of its high-purity manganese sulphate (HPMSM) refinery in Louisiana, USA. The company aims to become a leading provider of high-quality ethically sourced battery-grade manganese to support global electrification efforts. E25 has secured funding agreements with General Motors LLC and Stellantis N.V., providing a total of U$115M in financing support for the Louisiana HPMSM project. The company is also exploring various funding options, including government-sponsored funding via loan or grant programs. Additionally, E25 has received a substantial incentive package from the Louisiana State Government and is eligible for the Inflation Reduction Act 45(X) production tax credit. The project is currently under review for permitting and is expected to commence construction pending the execution of binding terms on the project site, in addition to the conclusion of project financing activities and a Final Investment Decision by E25's Board of Directors.