Connect with us

Hi, what are you looking for?

Investing

ChemX Granted HiPurA® HPA New Zealand Patent and Pilot Plant Progress

ChemX Materials (ASX:CMX) (ChemX or the Company), an Australian high purity critical materials company and 100%-owner of the HiPurA® patented process to produce High Purity Alumina (HPA) ispleased to announce it has received notice of grant for its innovative HiPurA® patent within New Zealand from the New Zealand Intellectual Property Office (NZIPO). Grant of HiPurA® Patent in New ZealandChemX receives A$191,935 (Tranche 2) via R&D tax incentive loan facilityHPA Pilot Plant Progress

This patent follows granting of the Australian Patent in February 20241 and further solidifies ChemX’s competitive edge in becoming a key producer of 4N (99.99%) and 5N (99.999%) HPA within Australasia. Further international jurisdictions are pending and ChemX is working with its patent advisors to have these granted.

Chief Executive Officer, Peter Lee said:

“Patent awards continue to underpin the global rollout of ChemX’s HiPurA® technology and the Company looks forward to accelerating its commercialisation strategy in the key markets including LEDs, semiconductors and electrical vehicles following the successful commissioning of the Pilot Plant and off take negotiations which have begun.”

“Importantly, ChemX expects additional international patents to awarded over time.”

Tranche 2 of R&D funding Received

ChemX’s HiPurA® Pilot Plant is being built in O’Connor, Western Australia and the Company pleased to advise it has also received A$191,935 (tranche 2) via Radium Capital loan facility (R&D funding method) secured against the estimated R&D Tax incentive refund for FY24.

Radium Capital is a R&D finance provider offering advance access to eligible R&D funds. ChemX Materials’ total FY24 eligible tax refund is estimated to be $A552,419, of which ChemX has now received 80% ($441,935). The final 20% (less interest and fees) is to be received in the final quarter of calendar 2024.

Pilot Plant Progress

ChemX previously announced the successful commissioning of the Pilot Plant Leach module, and this remains in a state of operational readiness. Delays have been experienced in the construction of the Solvent Extraction (SX) module due to longer than expected lead times on key process equipment and delivery of electrical infrastructure.

During this period, ChemX has embarked upon increased safety measures including:

Completing the installation of double containment bunds and additional double walled storage vesselsDevelopment of enhanced safety systems supporting wireless integrated control with interlocks, alarms, and shutdown/startup automationDevelopment of enhanced control capabilities for optimisation of key process parameters including historization and online trend analysis

The above initiatives deliver improved layers of safety with regard to solvent (SX area) management and provide inventory hold points within the process where purity may be quantitatively tested/verified against expected elemental purity before processing further. These cost saving measures negate unnecessary processing of sub-standard interim process batches, build towards key commercial plant design considerations, and unlock advanced process optimisation capabilities.

ChemX has achieved operational readiness within Precipitation, Drying and Calcination areas and expects Reagent delivery systems to achieve operational readiness status in October 2024. Other key statutory activities including waste-water disposal permitting and chemical storage & handling permitting pre- requisites are in progress and advancing well.

Click here for the full ASX Release

This post appeared first on investingnews.com

You May Also Like

Investing

The platinum sector is projected to experience a significant industry deficit in 2024, marking the second consecutive year where demand for the precious metal...

Investing

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce the execution of an Offtake Letter of Intent between...

Latest News

Speaker Mike Johnson, R-La., was forced to delay a House-wide vote on his plan to avert a partial government shutdown on Wednesday after a...

Investing

Biren Technology, a Chinese artificial intelligence (AI) chip developer seen as a potential rival to industry leader NVIDIA (NASDAQ:NVDA), is making preparations for an...

Disclaimer: Earlyagenda.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Earlyagenda.com