Euro Manganese and Integrals Power Sign LOI and Offtake Term Sheet to Strengthen LMFP Battery Supply Chain
Euro Manganese and Integrals Power Sign LOI
and Offtake Term Sheet to Strengthen LMFP
Battery Supply Chain
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2025) - Euro Manganese Inc. (TSXV: EMN)
(ASX: EMN) (FSE: E060) (the "
Company
" or "
Euro Manganese
") announced today that it has entered
into an offtake term sheet dated
June 18 (the "
Term Sheet
") with Integrals Power Limited ("
IPL
"), for the
sale of high-purity manganese sulphate from the Company's Chvaletice Manganese Project
("
Chvaletice
" or the "
Project
") in the Czech Republic.
Highlights
UK-based Integrals Power Limited is a next-generation battery nano-materials company that has
developed an innovative and proprietary process for producing high-performance, cost effective
and scalable battery cathode materials such as Lithium Iron Phosphate ("
LFP
") and Lithium
Manganese Iron Phosphate ("
LMFP
") for lithium-based batteries.
Euro Manganese and IPL will partner to support the use of the Company's battery-grade High
Purity Manganese Sulphate Monohydrate ("
HPMSM
") in IPL's LMFP cathode material for use in
batteries for electric vehicles, grid-scale storage, defence and other applications.
Initial program of test work to determine the compatibility of the Company's HPMSM with IPL's
production process and the performance of the resulting LMFP cathode material will commence in
the third quarter of 2025. Successful completion of this work will pre-qualify Euro Manganese's
HPMSM as a feedstock for IPL's LMFP cathode and the supply chain served by this new
technology, and potentially lead to further collaboration.
Pursuant to the Term Sheet, deliveries are to commence from first commercial production for an
initial term of seven years, with the option to renew for additional successive four-year periods. The
commencement of the initial term shall be subject to successful qualification by IPL of the
Company's high-purity manganese product from the Chvaletice Demonstration Plant.
Pricing will be subject to market indicators, with mechanisms for increase/decrease tied to certain
benchmarks.
The Term Sheet for the future supply of Euro Manganese's HPMSM to IPL and any licensee of their
technology is non-binding and includes terms associated with cost sharing of initial test work.
Martina Blahova, CEO of Euro Manganese, commented:
"We are excited to partner with Integrals Power to advance new battery technologies. IPL's innovative
cathode materials are at the forefront of the global transition towards safer, more sustainable, and
cost-effective battery solutions and are designed to support a wide range of applications. We look
forward to supplying fully traceable, responsibly produced products that enhance energy efficiency
and drive emissions reduction."
Behnam Hormozi , CEO of Integrals Power, commented:
"Our collaboration with Euro Manganese is a major step forward in securing a reliable, traceable, and
local supply of high-purity manganese - a key ingredient in our L(M)FP cathode materials. This
partnership enhances Integrals Power's ability to scale cathode production sustainably while
supporting the growing demand for high-performance battery technologies across UK & Europe. It
aligns perfectly with our mission to build a resilient, transparent supply chain that underpins the
energy transition."
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity
manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice
Manganese Project in the Czech Republic and an early-stage opportunity to produce battery-grade
manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving
reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of
manganese in the European Union, strategically positioning the Company to provide battery supply
chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX-V and the ASX.
About Integrals Power
Integrals Power is a next-generation battery technology company committed to accelerated research,
development and commercialisation of state-of-the-art battery. IPL's latest battery material development
results empower economical cells with higher performance compared to conventional alternatives.
Integrals' innovations are designed to support a wide range of applications, from electric vehicles (EVs)
and grid-scale storage, to defence, motorsports, maritime, and portable power systems, with an
emphasis on localised supply chains, high performance, and regulatory compliance. For more
information visit:
integralspower.co.uk
Authorized for release by the CEO of Euro Manganese Inc.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V)
or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
Martina Blahova
Chief Executive Officer
+1 (604) 681-1010
LodeRock Advisors
Neil Weber
Investor and Media Relations - North America
+1 (647) 222-0574
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
+61 (0) 405 555 618
Company Address
:
#709
-700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website:
www.mn25.ca
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Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" or "forward-looking
information" within the meaning of applicable securities laws. Such statements and information involve
known and unknown risks, uncertainties and other factors that may cause the actual results,
performance, or achievements of the Company, its Chvaletice Project, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements or information. Such statements can be identified by the use of words such
as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate",
"scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Readers are cautioned not to place undue reliance on forward-looking information or statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual
results of the Company to differ materially from those discussed in the forward-looking statements and,
even if such actual results are realized or substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
Such forward-looking information or statements also include, but are not limited to, statements regarding
the Company's intentions regarding the development of the Chvaletice Project, the ability of any
collaboration between Euro Manganese and IPL to strengthen the LMFP battery supply chain, timelines
for testwork, ability to pre-qualify Euro Manganese's HPMSM as a feedstock for IPL's LMFP cathode
and the supply chain and potentially lead to further collaboration with IPL, ability of Euro Manganese to
enter into an offtake agreement with IPL, and ability to supply fully traceable, responsibly produced
products that enhance energy efficiency and drive emissions reduction.
All forward-looking statements are made based on the Company's current beliefs including various
assumptions made by the Company including that the Chvaletice Project will be developed and operate
in accordance with current plans, that the Company will be able to raise the financing that it requires, and
that it will meet conditions of its secured credit facility. Factors that could cause actual results or events
to differ materially from current expectations include, among other things: risks and uncertainties related
to maintaining necessary licenses or permits; risks related to acquisition of surface rights; securing
sufficient offtake agreements; the availability of acceptable financing; the potential for unknown or
unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric
Vehicles) battery markets and chemistries; and risks related to fluctuations in currency exchange rates,
changes in laws or regulations; and regulation by various governmental agencies. For a further
discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information
form for the year ended September 30, 2024, available on the Company's SEDAR+ profile at
www.sedarplus.ca
.
Although the forward-looking statements contained in this news release are based upon what
management of the Company believes are reasonable assumptions, the Company cannot assure
investors that actual results will be consistent with these forward-looking statements. These forward-
looking statements are made as of the date of this news release and are expressly qualified in their
entirety by this cautionary statement. Subject to applicable securities laws, the Company does not
assume any obligation to update or revise the forward-looking statements contained herein to reflect
events or circumstances occurring after the date of this news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/256078