Cotec to Collaborate With the University of Birmingham to Identify and Commercialize Technologies Related to the Critical Minerals Industry
Vancouver, British Columbia – September 1, 2023 – CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) (“CoTec” or the “Company”) is pleased to announce it has entered a Memorandum of Understanding (“MoU”) for a collaboration with the University of Birmingham to identify and commercialize disruptive technologies related to the critical mineral extraction industry.
The collaboration will focus on potential opportunities to commercialize the University’s low carbon, disruptive technologies in the mineral extraction industry. The University of Birmingham will contribute its depth of research knowledge while CoTec will provide its extensive industry experience, network and access to potential operating assets.
This agreement complements CoTec’s existing relationship with the University of Birmingham through its rare earth investments in Mkango Resources Ltd (“Mkango”) and Maginito Limited (“Maginito”). Maginito, which is currently owned by Mkango and CoTec on a 90%/10% basis, owns HyProMag Limited (“HyProMag”). HyProMag’s rare earth magnet recycling technology was originally developed by the University of Birmingham and demonstrates how academic research and development can be commercially scaled up and rolled out into industry.
Mr. Julian Treger, CEO of the Company commented, “We are very excited about the opportunity to work with the University of Birmingham and support its research programs which collaborate with the UK’s leading researchers, businesses, policy makers and other stakeholders. We are optimistic that this relationship will develop into a long-term platform to roll out applicable, low cost, low carbon, scalable technologies which we believe will be successful in supplying critical minerals into the industry.
“One of CoTec’s core strategies is to partner with technology developers to assist them in commercializing new and environmentally friendly ways of supplying the world with the materials it needs for the energy transition. The University of Birmingham is one of the UK’s leading research and development institutions, and this relationship, along with our existing investment in Maginito, demonstrates CoTec’s commitment to this strategy.”
Professor Allan Walton, Co-Director of the Birmingham Centre for Strategic Elements and Critical Materials, commented “The agreement to collaborate with CoTec provides an exciting opportunity to work with an extremely experienced industrial team in critical minerals.
“The guidance provided by CoTec will be an important part of our technology development plans. BCSECM has a track record of taking clean technologies to market, and this agreement significantly enhances the centres capability to develop processes at higher technology readiness level, leading to real world impact”.
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange (“TSX- V”) and the OTCQB and trades under the symbol CTH and CTHCF respectively. The Company is an environment, social, and governance (“ESG”) focused company investing in innovative technologies that have the potential to fundamentally change the way metals and minerals can be extracted and processed for the purpose of applying those technologies to undervalued operating assets and recycling opportunities, as the Company transitions into a mid-tier mineral resource producer.
CoTec is committed to supporting the transition to a lower carbon future for the extraction industry, a sector on the cusp of a green revolution as it embraces technology and innovation. The Company has made five investments to date and is actively pursuing operating opportunities where current technology investments could be deployed.
For further information, please contact:
Braam Jonker – (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements and, in particular, the Company’s expectations regarding the potential for its collaboration with the University of Birmingham to create opportunities for CoTec and the University to commercialize the University’s low carbon, disruptive technologies in the mineral extraction industry. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company. For further details regarding risks and uncertainties facing the Company please refer to “Risk Factors” in the Company’s filing statement dated April 6, 2022 and in the Company’s other filings with Canadian securities regulators, copies of which may be found under the Company’s SEDAR profile at www.sedarplus.ca.
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