RE: RNS3 Apr 2023 09:37
Ironveld Plc
LOI signed with BurnStar Technologies for Hydrogen Production
Ironveld plc ("Ironveld" or the "Company"), the AIM quoted mining development company, is pleased to confirm that its subsidiary, Ironveld Energy (Pty) Limited ("Ironveld Energy"), has signed a Letter of Intent ("LOI") with BurnStar Technologies (Pty) Limited ("BurnStar"), to proceed towards a binding Legal Agreement (the "Agreement") under which BurnStar will, implement its patent-pending 'Guilt-Free Hydrogen'™ technology, to process Liquefied Natural Gas ("LNG") on site at Ironveld's Rustenburg smelter.
Under the Agreement, BurnStar will produce hydrogen as a furnace reductant gas which could significantly reduce Ironveld's carbon consumption and enable Ironveld to produce premium priced 'green metals' in South Africa.