Magnet metal facility moves forward
Pensana and The Yorkshire Energy Park have signed a letter of intent for the site of a future permanent magnet metal facility within the park.
The YEP is located adjacent to the Saltend End Chemicals Park in the Humber Freeport UK.
As part of its plans to establish an independent supply chain for magnet metals, Pensana is currently undertaking studies into the conversion of rare earth oxides into magnet metals using electric furnaces powered by offshore wind.
The letter of intent with YEP covers the proposed site as well as the supply of zero carbon electricity and a range of bespoke facilities for the processing of rare earths in magnet metals, R&D and supply chain activities.
The LOI was signed at an on-site event which was also attended by the Vice Chancellor of Lincoln University, which is working with Pensana and YEP to create a regional specialised centre of engineering excellence, training and higher education on YEP for the Humber region.
Paul Atherley, Pensana chairman, said: "The partnership between YEP and Pensana is part of a broader study being undertaken to demonstrate how the UK can draw on its chemical engineering heritage and by connecting to offshore wind to create resilient supply chains to support the UK's automotive sector in its transition from a major producer of internal combustion engines to be a world leader in the manufacture of electric drive units."
Chris Turner, YEP chairman, added: "We welcome the opportunity to deepen our collaboration with Pensana and the University of Lincoln on this nationally significant project. It represents another milestone for YEP and the Humber Freeport in delivering a zero carbon/advanced technology industrial cluster on the Humber."
Professor Neal Juster, Vice Chancellor of University of Lincoln, said: "This collaboration not only propels opportunities for the growth of research, development, and supply chain activities, but also sets a new standard for sustainable energy practices.
"Together with our esteemed partners, we are pleased to play a part in shaping a future in which the Yorkshire Energy Park stands as a beacon of excellence in engineering, training, and higher education for the entire Humber region, bringing economic benefit as well as supporting our Net-Zero goals."Advertisement