Highlights:
- ASM to acquire a 95% interest in joint venture partner Ziron Technology Corporation (Ziron Tech)
- ASM to acquire the ownership of all associated intellectual property including patented metal-refining technology
- Ziron Tech team will continue development of metallisation technology within ASM
ASM has entered into a binding heads of agreement (HOA) to acquire 95% of its joint venture partner Ziron Tech, which owns patented low emission, high purity metal-refining technology. ASM will also acquire the pilot plant constructed in 2020 to confirm the technology.
The patented technology is a more environmentally friendly, sustainable and cost-effective alternative to existing conventional, energy-intensive metallisation processes. The technology has been successfully applied during pilot plant testwork to all major metals found within ASM’s Dubbo Project including zirconium, hafnium, and rare earths for permanent magnet alloys. In addition, it provides an opportunity to expand its business with the production of titanium metal and associated alloys.
Under the HOA ASM will appoint Ziron Tech’s founder, Professor Jonghyeon Lee as Chief Technical Advisor to lead the Ziron Tech team and the continued development of clean metal processing. ASM is progressing negotiations to commence a feasibility study for larger scale development and commercialisation of the plant.
ASM Managing Director, David Woodall said: “Our joint venture and strong relationship with Ziron Tech since 2016 has achieved significant milestones, with the successful production of metals using this clean technology. This agreement marks the start of the next phase of this positive partnership with Ziron Tech as it becomes part of ASM.”
“With Professor Lee and his team on board, we are looking forward to establishing the first commercial scale metal plant in Korea using the technology, which will help meet the growing demand for ASM’s range of high-purity and value-added critical metals used in advanced technologies, including electric vehicles and clean energy,” Mr Woodall said.
Ziron Tech founder and major shareholder, Professor Jonghyeon Lee said: “We are pleased to further formalise our partnership with ASM and become an integral part of the company. The metal production method we have been testing is set to transform the traditional process of metal production, with it being more efficient and environmentally friendly.”
ASM and Ziron Tech expect to finalise the detailed documentation in relation to this transaction by the end of September 2020 and complete the transaction by the end of October 2020.