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Neometals Ltd ( (AU:NMT) ) has shared an update.
Neometals Ltd announced the receipt of a second tranche of funding from EIT RawMaterials, an EU co-funded group, for the Finnish Vanadium Recovery Project (VRP1). This investment underlines EIT RawMaterials’ commitment to accelerating raw materials innovation in Europe and supports technical work programs essential for the project’s development. The funding aims to enhance Neometals’ industry positioning as a leading player in sustainable vanadium production, highlighting the company’s strategic role in securing critical resources for European industries. Neometals anticipates becoming Europe’s first domestic producer of high-purity vanadium, a critical material for various industries, including steel and energy storage.
More about Neometals Ltd
Neometals Ltd is a sustainable process technology developer focused on commercializing its patent-pending vanadium recovery process. The company is involved in the development of the Finnish Vanadium Recovery Project (VRP1) in Finland, aiming to produce high-purity vanadium pentoxide from vanadium-bearing steel slag. Neometals holds a significant interest in Novana Oy and is involved in raw materials innovation, particularly in the Nordics.
YTD Price Performance: -8.00%
Average Trading Volume: 15,200
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $35.76M
Learn more about NMT stock on TipRanks’ Stock Analysis page.
