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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Elysee Development Corp.    ELC   CA2907371058

ELYSEE DEVELOPMENT CORP.

(ELC)
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Elysee Development : Investment US Vanadium Acquires America's Sole High-Purity Vanadium Production Facility

10/15/2019 | 07:05am EST

DGAP-News: Elysee Development Corp. / Key word(s): Miscellaneous
Elysee Investment US Vanadium Acquires America's Sole High-Purity Vanadium Production Facility

15.10.2019 / 13:04
The issuer is solely responsible for the content of this announcement.


Vancouver, British Columbia--(Newsfile Corp. - October 15, 2019) - Elysee Development Corp. (TSXV: ELC) is pleased to announce that US Vanadium Holding Company LLC ("USV"), a private company in which Elysee holds approximately 15%, has now completed the previously announced acquisition from a leading Russian steel conglomerate of the only facility in the Americas that produces the world's highest purity vanadium pentoxide (V2O5).

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Figure 1: U.S. Vanadium?s Processing Facility in Hot Springs, Arkansas USA

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2482/48756_da3e8c65f4f3bbf0_002full.jpg

The facility, located in Hot Springs, Arkansas, is unique in its kind since it produces V2O5 at very high purity levels required by demanding applications such as maleic anhydride catalyst, bismuth vanadate pigments and vanadium redox flow batteries ("VRBs"). It also produces a suite of downstream vanadium-based chemicals for customers in the catalyst, chemical, petrochemical, titanium, and energy storage industries.

The Hot Springs facility has produced vanadium and other products since the late 1960s. From 2008 to 2018, production declined from full capacity to very low levels. Over the past year, USV has brought production back online through the provision of new customers through tolling agreements and now, following this acquisition, plans to restore the plant's production to its full nameplate processing capacity of approximately 12 million lbs. per year of V2O5. Currently the price of V2O5 hovers around US$6 per pound, with high purity material being sold at significant premiums.

USV is also anticipating greater demand for the very high purity vanadium electrolyte produced at the facility as a result of increased demand for VRBs. Vanadium redox flow batteries are increasingly seen as the preferred technology for use in large-scale electrical grid energy storage, particularly as a means of supporting greater deployment of intermittent generation technologies such as solar and wind energy. The VRB technology has matured to the point where it can demonstrate lower lifetime costs and safer performance than lithium ion batteries, particularly in long duration storage applications.

"Vanadium is a major contributor in the growing technology metals market, and we are excited to be expanding our involvement in the sector with this purchase," said Brian Menell, Chairman and CEO of TechMet Limited, a major investor in USV. "We are very pleased to be supporting US Vanadium to stimulate the production of this strategic material in the U.S. We predict significant market growth over the coming years with growing demand from large-scale grid storage."

Closing of the transaction was funded by USV from working capital. Major investors alongside Elysee in U.S. Vanadium include TechMet Limited, The Lind Partners, and other long-time leaders in the vanadium industry. To date, Elysee has invested US$1.8 million in USV. For more information on U.S. Vanadium please visit their web site at www.usvanadium.com.

About Elysee Development Corp.

Elysee Development Corp is a diversified investment and venture capital firm with a focus on the natural resource sector. For more information, please visit our web site at www.elyseedevelopment.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Stuart Rogers 
President     
Elysee Development Corp. 
Tel: (778) 373-1562

Guido Cloetens
Chairman and CEO
info@elyseedevelopment.com 
Tel: (778) 985-8011

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

48756_da3e8c65f4f3bbf0_logo.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48756

169

Click on, or paste the following link into your web browser,to view the associated documents http://www.newsfilecorp.com/release/48756
News Source: Newsfile


15.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Elysee Development Corp.
Canada
ISIN: CA2907371058
EQS News ID: 890365

 
End of News DGAP News Service

890365  15.10.2019 

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© EQS 2019
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Financials
Sales 2019 2,26 M 1,78 M 1,78 M
Net income 2019 1,68 M 1,33 M 1,33 M
Net cash 2019 12,2 M 9,63 M 9,63 M
P/E ratio 2019 5,68x
Yield 2019 7,80%
Capitalization 16,7 M 13,2 M 13,2 M
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Nbr of Employees 4
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Managers and Directors
NameTitle
Guido Cloetens Executive Chairman & Chief Executive Officer
Stuart Wayne Rogers President & Director
Gordon Steblin Chief Financial Officer
Martin Burian Independent Director
Gaston Reymenants Independent Director
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