on CoTec Holdings Corp. (CVE:CTH)
CoTec Holdings Notes EU Strategic Project Designation for HyProMag Germany
CoTec Holdings Corp., based in Vancouver, has noted the announcement by its U.S. joint venture, HyProMag USA, regarding the recognition of HyProMag GmbH as a Strategic Project under the European Union's Critical Raw Materials Act. This designation positions HyProMag Germany among 46 projects aimed at bolstering the critical raw materials supply chains across Europe.
HyProMag Germany, located in Pforzheim, Germany, utilizes the Hydrogen Processing of Magnet Scrap technology, identical to that deployed by HyProMag USA. The European Commission supports these projects to enhance critical raw material processing and recycling capabilities, vital for strengthening Europe's supply chain resilience.
Julian Treger, CEO of CoTec Holdings, highlighted the strategic importance of this recognition, emphasizing the role of rare earth magnet recycling as a crucial component of supply chains. This development aligns with HyProMag USA's goal of creating a domestic source of recycled rare earth materials in the U.S.
R. H.
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