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JapanMilan 15 February 2024 – Industrie De Nora S.p.A. (“De Nora”), an Italian multinational company listed on the Euronext Milan, specializing in sustainable electrochemical technologies and in the emerging green hydrogen industry, has partnered with Mangrove Lithium to supply CECHLO ™ systems. Mangrove will use De Nora's electrochemical technologies in its patented Clear-LiTM technology process to refine lithium, sourced from both mining and the recycling of used batteries, for the production of new batteries, helping to open bottlenecks in the lithium supply chain.
The collaboration with the Canadian company demonstrates the flexibility of De Nora's technological solutions, able to meet multiple market needs, and places the company as a leading partner in lithium electrolysis processes, a key element in the development of energy storage to contribute to a more sustainable future. In fact, the CECHLO electrolyser, traditionally used in the production of chlorine, will be configured in the partnership for lithium production and recovery, realizing a virtuous cycle of this rare metal and facilitating large-scale adoption of electric vehicles by reducing costs and increasing raw material availability.
Mangrove, which includes among its customers various global players throughout the lithium battery production chain, including extractors, manufacturers and battery recyclers, looks to use this technology to lead in the battery material production markets in North America, South America, Europe and Australia. Through the partnership with De Nora, Mangrove will be able to present itself with a more competitive value proposition to the market, meeting the needs of the various players who, by taking advantage of the CECHLO solution, will support the lithium-ion battery market and consequently generate important business growth opportunities.
“We are very proud of this new partnership, which confirms our international visibility and allows us to further expand our target markets, strengthening our positive contribution in the Energy Storage market and confirming De Nora's vocation towards circular economy." - commented Frank Tomaselli, Chief Regional Officer of De Nora North America.
Mangrove CEO, Saad Dara, commented: “Partnering with De Nora for our lithium refining platform and commercial deployments will ensure we can deliver our technology at the highest level of quality and reliability to our customers. We were very impressed by the De Nora facilities, team and operations when we visited them in Japan. Their attention to detail, level of expertise and years of experience will help Mangrove achieve our goals of creating a more sustainable lithium supply chain and unlock bottlenecks that currently exist between lithium extraction and battery manufacturing.”
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About De Nora
Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange specializing in electrochemistry, a leader in sustainable technologies, and plays a vital role in the industrial green hydrogen production chain. The company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of electrodes for the major industrial electro-chemical processes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and surface finishing). Industrie De Nora is among the world's leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, swimming pool and marine sectors). Leveraging its well-established electrochemical knowledge and proven manufacturing capability, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition. In this sector, the company now holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.
Founded in 1923, Industrie De Nora generated total revenues of around EUR 853 million and an Adjusted EBITDA of approximately EUR 191 million in 2022. The Company's growth process has developed organically through its continuous innovation as regards external lines through acquisitions in the U.S., Asia, and Europe. De Nora’s intellectual property portfolio currently includes more than 260 patent families with more than 2,800 territorial extensions.
The De Nora family owns 53.3% of the company’s share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.
About Mangrove Lithium
Mangrove is a technology company that utilizes a patented electrochemical process called Clear-LiTM to convert lithium extracted from brines, hard rocks, clays, DLE and recycled batteries into a battery-grade lithium hydroxide or lithium carbonate. This technology can be co-located along the battery-value chain and utilizes electricity in place of chemical reagents to create a final product. This in turn eliminates reliance on third party chemical suppliers and lowers the carbon footprint compared to incumbent lithium refining technologies.
Investor Relations
Chiara Locati
+39 02 2129 2124
ir@denora.com
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