leadf
logo-loader
viewBushveld Minerals Ltd

Bushveld Minerals secures greater interest in Enerox

Bushveld Minerals is building a strong position across the vertical supply chain for vanadium

Bushveld Minerals Ltd -

Bushveld Minerals Limited (LON:BMN), the integrated primary vanadium producer and energy storage provider, has revealed that its 84%-owned Enerox Holdings Ltd has acquired a further 65.1% of the share capital of Enerox GmbH.

The investment is in line with the company's strategy of establishing a vanadium redux flow battery investment platform to lead investments in VRFB original equipment manufacturers with attractive upside potential.

The Enerox battery product is one of the most widely deployed over the past 10 years, offering a unique value proposition in the industry.

Enerox has a global customer base with over 130 field installations over the past 10 years, across five continents.

Under a separate agreement that’s proposed, it is intended that Bushveld will be awarded a right of first refusal to supply vanadium products to Enerox on the same material terms as any other supplier. This would provide a future hedge to Bushveld's position against volatility in the vanadium price once the VRFB market has developed.

Under the agreement, Bushveld’s majority-owned Enerox Holdings Ltd will pay a nominal amount for the Enerox shares but provide a new secured shareholder loan facility of €3.7mln to Enerox. The loan is designed to take Enerox to commercial production.

EHL will hold 90% of the share capital in Enerox, while the seller will remain as a 10% shareholder.

Quick facts: Bushveld Minerals Ltd

Price: 11.625 GBX

LSE:BMN
Market: LSE
Market Cap: £134.03 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bushveld Minerals Ltd named herein, including the promotion by the Company of Bushveld Minerals Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Bushveld Energy, as part of a consortium of investors, increases investment...

Bushveld Minerals (LON:BMN) subsidiary Bushveld Energy CEO Mikhail Nikomarov joined Steve Darling from Proactive Vancouver to discuss the company acquiring more of a stake in Enerox Holdings. That company is a maker of Vanadium Redox Flow Batteries. Nikomarov telling Proactive why they decided...

on 14/8/20

2 min read