Sunday, June 16, 2024

Pensana gets grant to work on rare earth magnet supply chain

Pensana has been awarded £316,643 in grant funding by Innovate UK under its CLIMATES programme to develop a low carbon sustainable supply chain for rare earth magnets.

The company, based at Saltend, will work in partnership with Polestar, Route2 and the Universities of Leeds and Hull.

The Project is backed by the UK Government and will use Pensana and Polestar’s low carbon and ESG engineering to review and measure impacts, and identify opportunities, to further reduce carbon in the rare earth products vital for the energy transition.

Danny McNeice, Pensana’s Sustainability Manager, said: “We believe Polestar 0 will set the standard for the electric vehicle industry, while Route2 has developed market-leading socio-economic impact measurement software and we are delighted to work with them and our academic partners at Leeds and Hull Universities to establish a UK-centric sustainable rare-earth supply chain from “mine to magnets”.

Pensana has already developed a strong approach to sustainability through the publishing of its Blueprint for Sustainable Rare Earths and has, through market-leading low-carbon design and renewable power agreements at both its UK and Angolan projects, placed itself well on the way to achieving its strategic goal to be a leading low embedded carbon supplier of rare earth products on the market.

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