More funding for Geomega recycling tech

Developer of clean technologies for the mining, refining, and recycling of rare earths and other critical materials, Geomega Resources Inc. announced it has been awarded a C$3 million grant from the Technoclimat Program toward the construction of a magnet recycling demonstration plant.

"We are very grateful to the Quebec Government for their support of our project," said Geomega Resources President and CEO Kiril Mugerman. "Furthermore, the Quebec Government understands that to achieve these goals, investment in innovation is crucial. Developing new technologies that will make the future environmentally sustainable while remaining competitive with legacy technologies is challenging but the continuous support from the Government over the last few years has allowed our team to achieve that."

Based around its ISR (Innord's Separation of Rare Earths) Technology, Geomega's core project is a proprietary, low-cost, environmentally friendly method to tap into the C$1.5 billion global market to recycle magnet production waste and end-of-life magnets profitably and safely.

You can read more about Geomega and its ISR technology at Aluminum waste to critical minerals asset in the May 26, 2021 edition of Metal Tech News.

The Technoclimat Program, administered by the Ministry of the Environment and the Fight Against Climate Change, Wildlife and Parks (MELLCCFP), is an energy and greenhouse gas emission reduction innovation support program designed to encourage the development of technological innovations in energy efficiency, renewable energies, bioenergy and reduction of GHG emissions by offering financial support for project promoters that wish to demonstrate the potential of its technological innovation.

This non-dilutive MELCCFP funding for Geomega will contribute to the construction of a magnet recycling demonstration plant with a projected throughput capacity of 1.5 metric tons per day of feed material.

Once built, the plant will be used to demonstrate the economic benefits, efficiency, and the environmental benefits of the technology.

Geomega says this funding is welcome considering the additional costs arising from the detailed engineering work, equipment cost increases, and the various delays in the project to date.

"As we continue with procurement of equipment and approach the construction phase, we get a step closer to bringing the rare earths industry to Quebec," said Mugerman.