The Board of Ionic Rare Earths Limited (“IonicRE” or the “Company”) (ASX: IXR) is pleased to advise the launch of Ionic Technologies International Ltd (“IonicTech”). IonicTech is the rebranded 100% owned subsidiary (formerly Seren Technologies Ltd) based in Belfast UK, which the Company acquired earlier in 2022. IonicTech has developed separation and refining technology, and applied this to magnet rare earth extraction and refining recovery from permanent magnet recycling.

• Ionic Rare Earths Limited has rebranded its 100% owned, UK based subsidiary to align with the Company’s corporate strategy of becoming a sustainable circular economy miner, refiner and recycler of magnet Rare Earth Oxides (REOs)
• Ionic Technologies International Limited (“IonicTech”), formally known as Seren Technologies, offers first mover capability for downstream magnet recycling – separating 99.9%+ magnet REOs to feed Electric Vehicle (EV), offshore wind, and defence applications
• Recycling of magnet REOs presently makes up 40% of the current supply chain, of which greater than 99% is conducted in China
• IonicTech will recycle and refine magnet REOs, providing a secure and traceable solution to providing the inputs, in separated and high purity form, needed to accelerate the world towards carbon neutrality
• Pilot plant commissioning progressing with test campaigns to be completed over the remainder of 2022, and recently awarded grant of £1.72 million accelerating the magnet recycling demonstration plant for H1 2023

IonicRE sees the commercialisation of the technology offering from IonicTech into modular magnet recycling initiatives and partnerships, with global governments looking to develop domestic magnet REO supply chains to empower localised manufacturing, including EV and renewable energy transitions. Such partnerships will also provide more secure and traceable supply chains for critical raw material.

On the renaming of the 100% owned UK subsidiary, Ionic Technologies, Mr Tim Harrison, Managing Director of Ionic Rare Earths commented:

“We are delighted to be able to now formally progress with the change of name to Ionic Technologies International Limited, and to commence building the brand from which we will commercialise a leading edge, patented technology to help deliver a viable alternative solution for the processing of waste agent and swarf to produce separated and refined REOs to be used in new permanent magnets.”

“ThelateststatisticsfromWoodMackenzieandAdamasIntelligencesuggestthemagnetREOsupplyis sourced between 30-40% from recycled materials, with China dominating over 99% of the magnet recycling landscape. IonicRE through IonicTech aims to provide an alternative option, with a low cost, modular entry for recycled magnet REOs deployable close to sources of secondary material.”

“The circular economy of rare earths will become increasingly more important over years to come, with the current production of magnet rare earths in significant deficit to forecast demand, and with no new supply coming into production, and no new projects in construction today, the deficit is expected to further increase.”

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