Savannah Resources - Agreement with EIT InnoEnergy
Agreement with EIT InnoEnergy
Savannah Selected to Receive Support from the Business Investment Platform
Savannah is pleased to announce that it has entered into an 'Added Value Services Agreement' with EIT InnoEnergy, as part of the Business Investment Platform ('BIP') launched last September to accelerate the development of a European battery industry. EIT InnoEnergy is the innovation engine for sustainable energy across
Through the Added Value Services Agreement (the 'Agreement'), EIT InnoEnergy will:
• Assist Savannah in securing finance to develop the Mina do Barroso project ('Mina do Barroso' or the 'Project'). This may include providing access to public and private sources of finance across equity, debt, and other funding mechanisms, such as grants. EIT InnoEnergy is also able to make investments itself in innovative companies operating in the sustainable energy sector.
• Work together with Savannah to apply the most innovative and sustainable state-of-the-art technologies and processes in the Project.
• Introduce potential customers for the Project's lithium as a supplement to Savannah's own ongoing negotiations with potential major customers.
• Introduce potential strategic Project investors.
• Provide market intelligence and wider strategic support in areas such as government and social engagement, regulation and permitting, and industrial partnering through its team in
To view the full press release including any maps, figures or tables, please use the following link:
"Savannah has been engaged with the
"The services offered through the BIP include assistance with sourcing financing for the project, introduction to potential commercial partners from within the EBA membership, and provision of independent, strategic support in a number of other areas critical to the project's development, such as political engagement. EIT InnoEnergy has a strong track record in the sustainable energy sector for securing finance for growth companies and supporting their development. The group is targeting
"EIT InnoEnergy's offering ideally complements our own ongoing efforts to commercialise the Project as well as those of our existing advisers and others within the wider Savannah network who are helping us make the Project a reality. Mina do Barroso can provide
EIT InnoEnergy's CEO,
About EBA250 and the Business Investment Platform ('BIP'):
The industrial development programme of the EBA, the EBA250, is managed by EIT InnoEnergy. Since its formation in late 2017, EBA250 has grown rapidly into a project-driven community now bringing together more than 400 industrial and innovation groups, including miners, chemical companies, producers of battery materials, cells and batteries, end users such as auto manufacturers, recyclers, and public and private financing groups, all with the common objective of building a strong and competitive European battery industry.
Following the output of the initial EBA250 stakeholder meetings and feedback from EBA250 members (including from Savannah) on how to bridge the gap between financial institutions and businesses, EIT InnoEnergy, with the support of selected financial institutions and industrial partners, designed the Business Investment Platform to accelerate the transactions between investee and investors in the lithium-ion battery value chain, including mining, while also reducing the business and investment risk to the investee and investor respectively. The BIP was launched at an event in
About EIT InnoEnergy:
EIT InnoEnergy is the innovation engine for sustainable energy across
The Group has been entrusted by the
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please visit www.savannahresources.com or contact:
Tel: +44 20 7117 2489
Tel: +44 20 3470 0470
finnCap Ltd (Joint Broker)
Tel: +44 20 7220 0500
Tel: +44 20 7659 1225
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Tel: +44 20 7236 1177
Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in
The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the
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