Largo Inc T.LGO

Ansaldo reloaded

[ceetong]

The Stryten announcement looks much like its predecessor Ansaldo announcement. Vague, lots of ifs, conditions, etc.

2022: "Largo Inc. is pleased to announce that the Company’s clean energy business, Largo Clean Energy Corp. (“LCE”) has signed a non-binding memorandum of understanding (“MOU”) with Ansaldo Green Tech S.P.A. (“AGT”) to establish a collaboration between the parties [...] through the formation of a joint venture (“JV”) between AGT and LCE in Italy."

2024: "Largo Inc. is pleased to announce the signing of a non-binding letter of intent with Stryten Energy LLC (“Stryten”) to establish a 50:50 joint venture that would combine the Company’s wholly owned subsidiary, Largo Clean Energy Corp. with Stryten’s vanadium redox flow battery (“VRFB”) business (the “Proposed Transaction”).

In both cases it's "proposed", "non-binding", conditional. And we know how it did play out with Ansaldo. Interestingly, the LOI "news" is not mentioned on Stryten's website at all.

[ThaLuvDocta]

The proposed JV isn't finalized, and JVs are non-binding by nature. Stryten may choose to post a PR once it's completed. 

[ThaLuvDocta]

Once finalized, the JV will be binding.  The transition from a non-binding to a binding agreement involves thorough negotiations, due diligence, and legal documentation. The initial non-binding phase allows parties to negotiate terms freely with an exit option if the venture does not appear to be mutually beneficial. Once both parties are satisfied and agree to formalize their cooperation