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Pensana Plc

Pensana Plc Business Partner

Pensana plans to establish Saltend as a processing hub for the independent and sustainable supply of rare earth magnet metals to a market currently dominated by China. The $195 million facility will produce 12,500 tonnes per annum of rare earth products, with 4,500 tonnes of neodymium and praseodymium oxide. The facility will be powered by low-carbon offshore wind and create over 500 jobs during construction.

Today 95% of the world’s magnets are produced in China which also controls much of the supply chain. The high-performance magnets that contain the NdPr Oxide that will be produced at Saltend are essential for the energy transition, in particular offshore wind turbines and electric vehicles.

The facility at Saltend will be the first of its kind to be built outside of China within the last decade and will be the first to be powered by offshore wind.

Pensana is not only bringing the separation of these materials to the Humber but also has plans to move downstream. This includes the only separation unit dedicated to heavy rare earths outside of China and by utilising offshore wind, we are also able to move towards rare earth metal manufacture, producing the lowest embedded carbon product in the industry.

Being a Bondholder for us is a great way for Pensana to make a positive contribution and support local business in the ever-growing economic hub of the Humber.

The products that Pensana will produce are critical for the energy transition and will play an extremely important part in the decarbonisation of the Humber. ESG is at the heart of everything we do and our philosophy of doing the right thing rather than the legislated requirements will support us and our local communities as we develop.

Our mission is to bring Bondholder businesses and key partners together to not only strengthen and unify Humber’s voice, but to encourage future green investment within the region, building out a cluster of businesses working together to build a better future.