the Second Tranche of EIT InnoEnergy’s Investment Highlights:
- The Company has received a second tranche of investment from EIT InnoEnergy of €125,000, bringing the EU-backed body’s investment to date to €187,500.
- The aggregate investment from EIT InnoEnergy is intended to be €250,000 and will help accelerate the Chvaletice Manganese Project’s successful integration into Europe’s electric vehicle (EV) battery value chain.
VANCOUVER, British Columbia, July 27, 2021 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF) (the "Company" or "EMN") is pleased to announce the receipt of a second investment tranche from EIT InnoEnergy amounting to €125,000 (CAD$185,162).
Pursuant to the terms of a Project Support Agreement entered into by the Company and EIT InnoEnergy (the "Agreement"), announced on February 22, 2021, the Company is to receive a three-tranche investment having an aggregate value of €250,000. The funds are being used to support ongoing work on the Chvaletice Manganese Project’s (the “Project”) definitive feasibility study and on the Chvaletice demonstration plant, which is intended to produce large-scale samples of high-purity manganese for supply chain qualification by prospective customers, including European electric vehicle makers and battery manufacturers.
https://www.globenewswire.com/news-release/2021/07/27/2269919/0/en/Euro-Manganese-Announces-the-Second-Tranche-of-EIT-InnoEnergy-s-Investment.html