Clean TeQ and Relativity Space, Inc. to Develop Applications for Scandium Aluminium Alloys for 3D Printing of Rockets

MELBOURNE, Australia, July 21, 2020 (GLOBE NEWSWIRE) — Sam Riggall, Chief Executive Officer of Clean TeQ Holdings Limited (Clean TeQ or Company) (ASX/TSX:CLQ; OTCQX:CTEQF), is pleased to announce a collaboration with Relativity Space, Inc. (Relativity) to develop scandium-aluminium alloys for 3D printing of launchers for commercial orbital launch services. The two companies have also agreed a binding Scandium Offtake Heads of Agreement for the Company to supply scandium oxide (volumes to be determined at Relativity’s election) from Clean TeQ’s Sunrise Project in NSW, Australia.
The collaboration is consistent with Clean TeQ’s long term strategy, led by Dr. Timothy Langan, manager of Clean TeQ’s scandium alloy development programs, to assist industry players to investigate and develop new applications for scandium-aluminium alloys. The Company’s aim is to stimulate growth in demand for the material which will be converted into sales of scandium from the Sunrise Project once it is in operation.Clean TeQ’s technical and marketing team will work closely with Relativity on development of scandium-containing alloys for Relativity’s patented Stargate 3D printing process. Results so far are encouraging and trials are progressing.Clean TeQ’s Sunrise Project in New South Wales, Australia, is being developed as one of the world’s largest integrated producers of nickel sulphate and cobalt sulphate – key cathode materials for the electric vehicle battery market. However, it also hosts one of the largest and highest-grade scandium deposits ever discovered, positioning Clean TeQ to be a major supplier of low-cost scandium for production of next-generation lightweight aluminium alloys for use in a variety of industries, including aerospace, automotive and consumer products.Headquartered in Los Angeles, California, Relativity Space, Inc. is a private American aerospace manufacturing company which is developing its Terran 1, the world’s first 3D printed space launch rocket, and Aeon engines for commercial orbital launch services.3D printing of the Terran 1 launch vehicle at Relativity’s Stargate factory:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f0d6cea2-28a7-4860-80e3-0d587c27d8d4Aerospace manufacturing has traditionally relied on large factories, fixed tooling, complex supply chains and extensive manual labour to build costly rockets comprised of 100,000+ parts, with lead-times of two years or more. Relativity has engineered and built the Stargate factory, the first aerospace platform to automate rocket manufacturing, vertically integrating intelligent robotics, software, and data-driven 3D printing technology.Incorporating the world’s largest metal 3D printers and artificial intelligence driven controls, the Stargate factory continuously optimizes production, resulting in greatly enhanced quality and time improvements, lower costs and part counts, and product designs previously not possible. Relativity has developed multiple proprietary alloys, custom designed for 3D printing to meet mission-critical performance.Clean TeQ’s Chief Executive Officer, Sam Riggall, commented, “We are delighted to be partnering with Relativity on this important project. Scandium allows us to create a new generation of aluminium alloys with unrivalled functionality – alloys that are stronger, lighter, more corrosion-resistant and printable. These alloys have the potential to revolutionise the manufacturing processes for a range of industries, as Relativity is already demonstrating. Our relationship with Relativity reinforces our strategy of working with innovative companies to find new solutions between raw materials and advanced manufacturing.”Encompassing four buildings with 20,000 square feet of office space and production facilities, Relativity’s LA facility houses design, engineering, and production of the Terran 1 launch vehicle and the Stargate printers:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b067c3e3-0c2b-42e3-9fd3-08ceb05574c5Relativity’s CTO and Co-Founder, Jordan Noone, commented, “Relativity was founded on the principle that aerospace manufacturing can benefit significantly from emerging technology. Scandium alloys are a key part of being able to combine 3D printing with the structural needs of spaceflight. We are looking forward to working with Clean TeQ to continue our work in revolutionizing aerospace manufacturing.”Further information about the Terran 1 launchers and the Stargate 3D printing technology is available from Relativity’s website: https://www.relativityspace.com/.Under the terms of the Scandium Offtake Heads of Agreement, Clean TeQ will supply scandium oxide to Relativity from the Company’s Sunrise Project once production commences. Annual volumes will be determined by Relativity. The parties have agreed a fixed price for scandium supplied pursuant to the Heads of Agreement. The Heads of Agreement is for a maximum ten-year term, and may be terminated by Relativity with notice, or by Clean TeQ if certain defined minimum purchase volumes are not met.For more information, please contact:Ben Stockdale, CFO and Investor Relations (Australia)             +61 3 9797 6700About Clean TeQ Holdings Limited (ASX/TSX: CLQ) – Based in Melbourne, Australia, Clean TeQ is a global leader in metals recovery and industrial water treatment through the application of its proprietary Clean-iX® continuous ion exchange technology. For more information about Clean TeQ please visit the Company’s website www.cleanteq.com.About the Clean TeQ Sunrise Project – Clean TeQ is the 100% owner of the Clean TeQ Sunrise Project, located in New South Wales. Clean TeQ Sunrise is one of the largest cobalt deposits outside of Africa, and one of the largest and highest-grade accumulations of scandium ever discovered.About Clean TeQ Water – Through its wholly owned subsidiary Clean TeQ Water, Clean TeQ is also providing innovative wastewater treatment solutions for removing hardness, desalination, nutrient removal and zero liquid discharge. The sectors of focus include municipal wastewater, surface water, industrial waste water and mining waste water. For more information about Clean TeQ Water please visit www.cleanteqwater.com.This announcement is authorised for release to the market by the Board of Directors of Clean TeQ Holdings Limited.FORWARD-LOOKING STATEMENTSCertain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company, the Sunrise Project or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results, and speak only as of the date of this new release.Statements in this news release that constitute forward-looking statements or information include, but are not limited to statements regarding: the development of the Sunrise Project, sales of scandium, Sunrise becoming an important supplier of low-cost scandium and the development of the scandium market. Readers are cautioned that actual results may vary from those presented. All such forward-looking information and statements are based on certain assumptions and analyses made by Clean TeQ’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; changes in commodity prices; unexpected failure or inadequacy of infrastructure, or delays in the development of infrastructure, and the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Other important factors that could cause actual results to differ from these forward-looking statements also include those described under the heading “Risk Factors” in the Company’s most recently filed Annual Information Form available under its profile on SEDAR at www.sedar.com.Readers are cautioned not to place undue reliance on forward-looking information or statements.Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.