Following several ongoing delays, Andromeda Metals Ltd (ASX:ADN) has terminated its Carbon Capture and Conversion (CC&C) research project with Newcastle University by mutual agreement.
The partnership, signed in April 2021, sought to explore the conversion of halloysite nanotubes into advanced nanomaterials that could be used as novel adsorbent systems and catalysts for CO2 capture and conversion processes.
The delays relate to the CC&C project generally, including certification of components for the Carbon Capture Pilot Plant (CCPP) as well as its set up and installation by Newcastle University’s Global Innovative Centre for Advanced Nanomaterials (GICAN) team.
Though Andromeda executive director James Marsh said the termination of the agreement was “regrettable”, he noted that it does not preclude the company from pursuing opportunities presented by the project.
“With the recent approval of the PEPR, our priority is to get the (Great White project) up and running as it brings Andromeda closer to becoming a globally significant producer of halloysite-kaolin products,” he said.
“We remain excited by the emerging business opportunities to collaborate with partners going forward to progress the development of halloysite-derived nanomaterial and critical mineral, HPA, solutions for solving the global decarbonisation challenge.”
Andromeda looks for new partners
According to the research agreement, Andromeda will retain ownership and control of all intellectual property developed under the CC&C project, along with the pilot plant and its components.
The company will not need to pay any winding up costs, including the remaining $2.5 million that had previously been committed to the project.
For its part, Newcastle University will provide any necessary assistance over the next six months to file or amend patents related to the project.
Andromeda is now undertaking a review of the opportunities identified by the CC&C project, including the relocation of the pilot plant to a more suitable location. The review, expected to be completed early in the fourth quarter of this year, will also look at new industry and research partners to resume the project.