5E Advanced Material Panels The
- 5E Signs Letter of Intent with Corning Inc. to Supply Boron Specialty Materials
- 5E to Collaborate with Corning to Develop and Supply Advanced Boron Materials
- Corning is a Fortune 300 company and one of the world’s largest technical glass manufacturers, supplying precision glass to some of the world’s most innovative and influential companies, including leading consumer electronics manufacturers.
- LOI aligns with 5E’s strategy to become a global thought leader and supplier of boron specialties and advanced materials and partner with industry leaders
HOUSTON, June 06, 2022 (GLOBE NEWSWIRE) — 5E Advanced Materials, Inc. (FEAM) (ASX: 5EA) (“5E”, “We”, “Our” or the “Company”) has entered into a Non- Liability – Binding Letter of Intent (“LOI”) with Corning Incorporated (:GLW) (“Corning”) to supply specialty boron materials. Under the terms of the letter of intent, 5E and Corning will work toward a binding agreement for the supply of boron specialties and advanced materials, which are used in the manufacture of Corning’s products. 5E and Corning will also collaborate and share technical expertise to develop and improve advanced boron materials.
Corning is a Fortune 300 company that leverages materials science expertise and manufacturing process leadership to transform industries. Corning is one of the world’s largest technical glass manufacturers, supplying precision glass to leading consumer electronics manufacturers. Corning’s other glass, ceramic, and optical solutions serve other global markets, including but not limited to flat panel displays, life science, optics, and consumables for semi-rigid equipment. -conductors, aerospace and defense optics and telecommunications components.
Commenting on the Letter of Intent with Corning, President and CEO, Mr. Henri Tausch noted:
“We look forward to working with Corning, an industry leader in global technical glass markets and a trusted partner for many brands. Corning’s leadership in the markets it serves provides a strong end use for our specialty boron and advanced materials. We’re also excited to support Corning’s sustainability commitments, as they align well with our environmentally responsible extraction and processing methods. We intend to have a long-term partnership with Corning as we focus on continued innovation as technologies evolve.
Today’s announcement marks another key milestone for the company, as we have now secured a Letter of Intent with one of the largest technical glass manufacturers in the world. We continue to see strong market momentum as we progress toward target construction completion of our small-scale boron facility in the fourth quarter of 2022.”
About 5E Advanced Materials, Inc.
5E Advanced Materials, Inc. (FEAM) (ASX: 5EA) is an exploration-stage company that aims to become a vertically integrated global leader and supplier of boron specialties and advanced materials, complemented by production capabilities of lithium. Our mission is to become a supplier of these critical materials to industries dealing with global decarbonization, food production and homeland security. We anticipate that boron and lithium products will target applications in electric transportation, clean energy infrastructure such as solar and wind power, fertilizers and homeland security. Our business strategy and objectives are to develop capabilities ranging from upstream extraction and sale of boric acid products, lithium carbonate and potentially other co-products, to processing and development of advanced boron materials downstream. Our business is based on our significant national boron and lithium resource, which is located in Southern California and designated as critical infrastructure by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, and we intend to leverage leveraged this asset once commercially operational to internally source our proposed downstream advanced materials development activities over time.
The information in this document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and as described in Australian securities laws and in other countries. other jurisdictions. Forward-looking statements are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “may”, “could” and other similar expressions, but not all. forward-looking statements contain these identifying words. All forward-looking statements reflect a number of assumptions, which are subject to numerous risks and uncertainties, many of which are beyond 5E’s control, and which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, our limited operating history in the borate industry with no revenues from our properties; our need for substantial additional financing to execute our business plan and our ability to access capital and capital markets; our status as an exploration-stage company with no known mineral reserves and the inherent uncertainty of mineral resource estimates; risks and uncertainties related to the development of the Fort Cady project; risks related to demand for end-use applications that require borates and related minerals and compounds that we plan to produce; risks related to compliance with environmental and regulatory requirements; unforeseen costs or delays associated with our small-scale boron facility; and the realization and result of future technical and economic studies related to our project. For more information regarding these various risks and uncertainties, you should carefully review the risk factors and other information contained in our amended Form 10 filed with the United States Securities and Exchange Commission (SEC) on March 7, 2022, and our Form 10-Q filed with the SEC on May 12, 2022. Additional risks are also disclosed by 5E in its filings with the Securities and Exchange Commission (SEC) throughout the year, including its Forms 10 -K, 10-Qs and 8-Ks, as well as in its filings with the Australian Securities Exchange. All forward-looking statements are made only as of the date hereof. Except as required by law, 5E expressly disclaims any obligation to update or revise these forward-looking statements. Further, 5E assumes no obligation to comment on any third-party analyzes or statements regarding actual or expected financial or operating results of 5E or its securities.
Authorized for release by: Henri Tausch, Chairman and CEO
For more information, contact: