FPX Nickel Corp. announced that on September 21, it signed a non-binding memorandum of understanding ("MOU") with Japan Organization for Metals and Energy Security ("JOGMEC") and the Prime Planet Energy & Solutions ("PPES") joint venture between Toyota Motor Company ("Toyota") and
Panasonic Corporation ("Panasonic"). The non-binding MOU provides a framework for FPX and PPES to explore collaborative opportunities for
the vertical integration of nickel production involving the development of FPX's Baptiste Nickel Project through to the production of nickel sulphate and cathode active materials for the PPES supply chain. Under the terms of the MOU, FPX, PPES and JOGMEC will work collaboratively to share technical information and expertise, and to explore potential strategic arrangements and business structures. It is anticipated that any potential binding agreements among the parties would provide FPX with additional funding to advance the Baptiste Project, including the preparation of a feasibility study and activities relating to the environmental assessment and permitting processes. The MOU is non-exclusive and non-binding, and there can be no certainty that a binding commercial agreement among the parties will arise from this framework; further, there is no fixed timing envisioned among the parties for the execution of any binding agreements.
FPX Nickel Corp. Announces Battery Supply Chain MOU with Japan Organization for Metals and Energy Security and Prime Planet Energy & Solutions
September 22, 2023 at 01:51 pm EDT
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