On May 7th, Focus Metals� (TSX-V: FMS)� and Hydro-Québec’s world-leading research institute, IREQ, announced the signing of a licensing agreement enabling Focus Metals to develop a graphite purification facility and a graphite anode production facility for lithium-ion (Li-ion) batteries. To read the full release, please click here.
- The new purification and production facilities will be built in Québec and will be owned and managed by Focus Metals.
- The new purification facility will be designed, subject to positive economic analysis, to produce 15,000 tons of spherical battery-grade flake graphite at peak, by 2015, whereas the anode production facility will be designed to produce up to 5,000 tons of anodes.
- In exchange for the technology license, technological support and future processing improvements, IREQ will receive a licensing fee that will be paid in cash over a three-year period, representing less than 10% of the current working capital, as well as a royalty fee based on a percentage of future sales.
“In particular, this agreement reinforces our goal of becoming the lowest-cost technology graphite producer in the world,” Mr. Economo added. “To have an all-Québec technology agreement with a world leader in graphite anode development and patenting bodes well for our shareholders.”
Focus Metals held its 2nd Annual General Meeting in Ottawa, May 3rd when shareholders approved a change of company name to Focus Graphite Inc., and approved a shareholders’ rights plan.
In his speech to the AGM, Mr. Economo said: “As a longer-term investment, we believe Focus stakeholders have come to accept our milestone-by-milestone development. As an emerging company, our “business unusual” model continues to break the mold of a traditional mining development company.”
He added that the greatest value will accrue to Focus shareholders “by continuing to execute our Lac Knife development strategy. We remain uniquely positioned to lead the graphite sector because of our world-class deposit and because we’re positioned to take advantage of market changes which will inevitably occur.” To read the full text of Mr. Economo’s speech, please click here.
Mr. Economo was recently interviewed by Shannon Pearson at Venture Capital Radio. To listen, please click here.
Dr. Gordon Chiu, Chief Scientist of Focus Metals, recently spoke at the Advanced Lithium Battery Conference in Charlotte, NC. To view the transcript, please click here.
For more information on Focus Metals you can visit their website or contact Focus President and CEO Gary Economo at 613.691.1091 ext:101 or at gary@focusmetals.ca.
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