MGX Minerals Inc. announced it has entered into a Letter of Intent (the "LOI") with DST Co., Ltd. ("DST") to create a joint venture as part of the formation of a vertically integrated vanadium redox battery supplier. The objective of the partnership is to advance a sedimentary-bearing vanadium deposit located in South Korea and develop a manufacturing facility for vanadium redox flow batteries and energy storage systems. Additionally, the Company and DST have agreed to identify sites in the state of New York suitable to build a manufacturing facility that will produce vanadium batteries. DST will provide proprietary battery technology and build a manufacturing facility while MGX will manage sales and marketing of end products throughout North America.
1st Jan change | Capi. | |
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+1.81% | 31.61B | |
+3.86% | 7.45B | |
+20.05% | 5.45B | |
+23.88% | 4.07B | |
-13.01% | 3.74B | |
+12.91% | 3.74B | |
+9.25% | 3.2B | |
-9.41% | 2.73B | |
-23.96% | 2.5B |