(Kitco News) - Battery metals producer and developer Jervois Global (TSX-V: JRV) informed yesterday that it has secured access to long term, renewable electricity at its Finland operations.
The company said that access to renewable energy is provided by two separate 10-year contracts with Statkraft AS and Gasum Oy which Umicore has entered into for its adjacent business.
Jervois added that under Jervois and Umicore’s operating relationship at the Kokkola Industrial Park, Umicore is responsible for providing Jervois a number of utility and other services under a Master Services Agreement.
This renewable electricity represents approximately two thirds (or 17.5 GWh) of the total annual power consumption at Jervois’ Finland operations (prior to potential expansions) and will commence in 2024 (Statkraft) and 2025 (Gasum) respectively, it said.
Importantly, the company noted that these contracts relating to the use of renewable electricity generated from onshore wind are anticipated to reduce Jervois Finland’s CO2eq emissions by up to 30%.
“In addition to lowering Jervois’s carbon footprint, these contracts also stabilize the company’s purchased electricity cost, reducing exposure to current and future volatility in European energy markets for the mutual benefit of the company and its customers,” Jervois commented.
Jervois is a vertically integrated cobalt development company developing a fully-integrated cobalt value chain, with significant nickel and copper exposure. The company has development stage assets, growth opportunities and exploration projects.
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