Green Minerals AS signs agreement with global battery manufacturer
Asker, Norway – 24 November 2022 – Green Minerals AS (the “Company”) is pleased to announce that the Company has entered a framework agreement with a global battery manufacturer (the “Client”). The agreement involves geological and engineering support related to topics within key battery metals. The framework agreement commences in Q4 2022 and will initially last through Q2 2023.
As part of the agreement, the Company will recognize its first revenue in Q4 2022. This represents a deviation from the original guidance given at the time of listing on Euronext Growth, where the first revenue was expected to be recognized in 2026. Revenue under the agreement is expected to be small.
“This agreement testifies to the technical and scientific competence at Green Minerals. We are pleased to have achieved this recognition with a potential client at the forefront of technological development in the battery industry. We believe partnerships and cooperation across the entire value chain are the most effective way to solve the colossal task of sourcing critical minerals needed for the green energy transition in a sustainable manner. Green Minerals seeks to be at the forefront of this development”, comments Ståle Monstad, CEO of Green Minerals AS.
About Green Minerals AS
Green Minerals AS is a pioneer in marine minerals on the Norwegian Continental Shelf. Our mission is to deliver minerals for the green energy transition in a responsible and sustainable manner, thereby lowering the environmental impact and reducing the social costs compared to onshore mining. The Company targets a NOK 1,000bn resource potential on the NCS and targets pilot production to commence in 2026. For more, visit www.greenminerals.no