Strategic Resources Signs Hydrogen and Graphene Collaboration Agreement with Levidian
MONTREAL, Feb. 6, 2024 /PRNewswire/ - Strategic Resources Inc. (TSXV: SR) (the "Company" or "Strategic") announces that it has executed a collaboration agreement (the "Collaboration Agreement") with Levidian, a British climate technology firm, to study supplying the BlackRock Project's metallurgical facility (owned by Strategic), located in Saguenay, Québec, Canada with the Levidian's patented LOOP decarbonization technology. This Collaboration Agreement enables Strategic to accelerate its hydrogen development roadmap and move towards producing near emissions free iron products for use in electric arc furnaces and steel plants.
Levidian's LOOP system captures the carbon from methane to produce hydrogen and has a unique net cost advantage over other hydrogen production technologies due to graphene, a valuable by-product that can be used to boost the performance of batteries, superconductors, solar cells, and electronics. The Collaboration Agreement sets the path towards Levidian providing the design for the LOOP system and the LOOP modules as well as the strategic plan for the marketing of the graphene via offtake. The LOOP system was commercialized out of Cambridge University (UK) and is already being deployed to multiple locations globally, across a number of industries.
The BlackRock Project's leased industrial site at Port Saguenay, Québec provides an ideal location to deploy LOOP. Strategic can utilize hydrogen to significantly reduce GHG emissions in the event the Company moves forward with plans to install a 4 million tonne iron ore pellet operation as the first phase of the BlackRock Project. Additional modules of the technology could also be deployed in subsequent phases of the BlackRock Project. Strategic has an established business footprint in Québec and Levidian's supply of LOOP for the BlackRock Project is well-suited for all stakeholders and the North American market.
Levidian is a British climate technology business that is on a mission to decarbonise the world's hardest to abate sectors. Underpinned by its patented LOOP technology, Levidian offers a unique decarbonization service that captures the carbon from methane gas and creates a new source of clean hydrogen and solid carbon (graphene) that can be used as an additive to further decarbonise major industries as far ranging as batteries, thermoplastics, tyres and construction. The solution can be deployed anywhere with a methane source and is designed to function as a self-contained modular system that can quickly and easily be retrofitted to existing infrastructure. Further details are available on the Levidian's website at www.levidian.com.
Strategic Resources Inc. (TSXV:SR) is a critical mineral exploration and development company focused on high-purity iron and vanadium projects in Canada and Finland. The Company is developing its flagship BlackRock Project, which is a fully permitted and ready to construct mine, concentrator and metallurgical facility located at a seaport in Québec with full access to the St. Lawrence Seaway. The Company's Head Office is in Montreal, Québec.
Further details are available on the Company's website at https://strategic-res.com/. To follow future news releases, please sign up at https://strategic-res.com/contact/.
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STRATEGIC RESOURCES INC.
Signed: "Sean Cleary"
Sean Cleary, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to future study and deployment of the LOOP technology and potential development of the BlackRock Project. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.
Although management of the Company believes that the assumptions made and the expectations represented by all forward-looking statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. Strategic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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SOURCE Strategic Resources Inc.
