VANCOUVER, BC, June 30, 2020 /PRNewswire/ - Leading Edge Materials Corp. ("Leading Edge Materials" or the "Company") (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) announces the participation of its subsidiary Woxna Graphite AB in the newly launched research project "Graphite and graphene as battery electrodes" (the "Project") which is part of the Vinnova funded competence centre Batteries Sweden ("BASE").
The Project will research the utilization of natural graphite for battery applications through determination of functionality of the natural graphite in batteries, the addition of silicon to the graphite particles, long-term stability and characterization and optimization of the surface chemistry. The latter will look at innovative technologies for tailoring of the surface chemistry by for example surface coatings, covalent functionalization and artificial Solid Electrolyte Interphases.
BASE was created as an alliance for ultrahigh performance batteries with a long-term vision to address the energy storage challenges associated with the transition to a fossil-free society by developing new types of lightweight, inexpensive, sustainable and safe ultra-high-energy storage batteries. The competence centre, coordinated by the Ångström Laboratory and the renowned battery scientist Professor Kristina Edström at Uppsala University, was granted SEK 34,000,000 in funding by the Swedish governmental innovation agency Vinnova. The partners of BASE are leading Swedish academic institutions and industrial companies spanning the battery value chain; Uppsala University, Chalmers University of Technology, KTH Royal Institute of Technology, RISE Research Institutes of Sweden, ABB, Volvo, Altris, Comsol, Graphmatech, Insplorion, Northvolt, SAFT, Scania, Stena Recycling, Volvo Cars and Woxna Graphite. (https://www.batteriessweden.se/)
Filip Kozlowski, CEO states "Being part of this project is a great opportunity for Woxna Graphite to contribute to the long-term vision of the Batteries Sweden alliance. Being able to supply natural graphite from Sweden could enable sustainable high-performance battery materials of the future. One of the focus areas, surface modification of spherical purified natural graphite is a key area of innovation to enable improved performance and cycle life for lithium-ion battery anodes."
Woxna Graphite AB is the owner of one of the western world's few permitted and fully built graphite mines, located in central Sweden near the town of Edsbyn. The Woxna graphite mine and production facility is comprised of four graphite deposits each with a mining lease, an open pit mine, a processing plant and tailings dam, located close to the town of Edsbyn, Sweden. Due to market conditions for traditional graphite markets the operation has been kept on a production-ready basis. Ongoing development is directed towards test work focused on the possible production and modification of high purity graphite using thermal purification technologies for emerging high growth high value markets, one such example being the lithium-ion battery industry. Other potential high-value end-markets being investigated are purified micronized graphite for metallurgical and electroconductive additives and purified large flake graphite as a precursor for the production of expandable graphite suitable as a feed for graphite foils and fuel cell bipolar plates. The purification and modification of natural graphite is very energy intensive and having access to low cost low carbon footprint hydropower offers the potential to become a market leader in terms of sustainability.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Filip Kozlowski, CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as lithium-ion batteries and permanent magnets for electric motors and wind power that underpin the sustainability transition of society. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Kärr HREE project (Sweden), Bergby lithium project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
The Company's consolidated financial statements and related management's discussion and analysis are available on the Company's website at www.leadingedgematerials.com or under its profile on SEDAR at www.sedar.com
The information was submitted for publication through the agency of the contact person set out above, on June 30, 2020 at 9:15 am Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol "LEM", OTCQB under the symbol "LEMIF" and Nasdaq First North Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is the Company's Certified Adviser on Nasdaq First North and may be contacted via email [email protected] or by phone +46 (0) 8 5030 1550.
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Woxna has never defined a mineral reserve and the previous preliminary economic assessment on Woxna dated October 29, 2013, has been superseded by the Company's current technical report dated May 11, 2015. As the Woxna facility is not in production but remains on a production ready status, any future decision to recommence mining at Woxna will not be based on a preliminary economic assessment demonstrating the potential viability of mineral resources or feasibility study of mineral reserves demonstrating economic and technical viability. Under these circumstances, there is increased risk of technical and economic failure for the Woxna project, and the Company discloses additional risk factors relating thereto. The Company advises that it has not based its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve any anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
SOURCE Leading Edge Materials