(MENAFN - ProactiveInvestors - Australia) Clean TeQ Holdings (ASX: CLQ) has reached non-binding agreements with Japan's Ishihara Sangyo Kaisha (ISK) for the use of its proprietary Clean-iX technology to recover scandium from Titanium Dioxide intermediate acidic process streams.
The first letter of intent is between Clean TeQ, ISK and Clean World Japan. It covers recovery of scandium and other valuable metals from ISK-owned plants globally and other titanium dioxide plants located in Japan.
The second agreement between Clean TeQ and ISK covers potential opportunities for scandium recovery from all other titanium dioxide producers globally.
Appraisal of the Clean-iX technology in this application has been in progress for six months and will continue over the next six months.
On successful completion of the process design and appraisal, contracts will be signed and the first recovery and purification plant will be constructed at ISK's Yokkaichi Plant in Japan.
This milestone will also trigger the licence fee payment from Clean World Japan Limited to Clean TeQ of A3.5 million.
Scandium is an emerging high value metal with applications in fuel cells, aerospace, catalyst and electronics markets.