Proactive - Interviews for investors

First Phosphate signs technology license with Prayon: advances plans for Phosphoric Acid development

First Phosphate's CEO, John Passalacqua joined Steve Darling from Proactive to announce the company’s agreement with Prayon SA of Belgium to license its advanced technology for producing merchant-grade phosphoric acid from igneous apatite phosphate rock, alongside high-purity gypsum. The license enables First Phosphate to design, build, and operate a manufacturing facility in Canada with a production capacity of 600 metric tons of phosphoric acid per day. To support the project, First Phosphate has engaged Ballestra S.p.A. of Milan, Italy—an official licensee of Prayon—for engineering services. Additionally, the company’s ongoing partnership with Norfalco, a division of Glencore Canada, ensures a reliable supply of sulfuric acid, a critical input for the future facility. This initiative positions First Phosphate as a key player in sustainable phosphate production, aligning with growing demand for high-purity materials in agriculture and clean energy sectors. #proactiveinvestors #firstphosphatecorp #phosphate #BéginLamarcheproject #CEOInterview #CompanyUpdate #StrategicGrowth #SustainableMining #GreenApproach #Geology, #Mining, #PhosphateDrilling, #ResourceEstimate, #PEA, #MountainZone, #NorthZone, #SouthZone, #DrillProgramme, #MineralExploration, #HighGradePhosphate, #GeologicalSurvey, #MiningConsultants, #3DModel, #EconomicAssessment, #ProactiveNews, #GeologicalResources, #MineralDeposit, #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Duration:: 4m
Broadcast on:: 02 Dec 2024
Audio Format:: other

Very welcome back inside our proactive newsroom joining me now with John Passalacoa. He is the CEO of first phosphate and John, welcome back. Good to see you again. Yeah, thank you, Steve. Good to see you. Yeah, good to start off a Monday with another agreement for the company and this one with a company that you know pretty well you've been working with already. Yeah, that's right. Pray on is is a partner of first phosphate. If you remember back in February of 2023, just after we went public, we released an MOU with Pray on that had four points of collaboration in it. One was this technology licensing agreement. Another one was it was an off take for our material. Another one was some cooperation around purified phosphoric acid. And the last one was some development looking at development in the LFP space together. So this is one of the four points in that MOU, which is the technology licensing agreement, which today goes definitive. So one of the four points today goes definitive as we continue to work very strongly together with Pray on. Yeah, so tell me how this is going to work now and and and how you're sort of getting to the next stage of this agreement. Yeah, so if Pray on is is by far the world's leader in terms of providing out technology for making phosphoric acid in the world. There's a number of players, but I mean from from our researcher, from all indications out there, Pray on is the most well respected. Also, if you know, Pray on works with igneous rock, which is the the phosphate that we have is from igneous source, not sedimentary source. So that's very important. The technology is a perfect fit. So when you license with Pray on, and especially when you license with Pray on around something as rare and as, you know, important as igneous rock, we know that we're going to get the right result. Furthermore, we've gone even further. We've we've picked a balestra as the engineering firm, which is one of the license, one of the firm engineering firms sanctioned and authorized by Pray on who's implemented, you know, probably the largest amount of implementations of Pray on technology have been done by balestra out of Italy. So, you know, when we work with balestra, when we work with Pray on, we know that we're going to get a proper result. And I think that's the most important thing here when you're moving into technologies that they're not new technologies, but they're technologies which are new to implement in Canada. We want to make sure that we're working with the best in the world. So with Pray on and with their their engineering firm, balestra, we know we've got it, we've got a successful formula. We've got, you know, a 99.9% chance of of success in implementing that, which is very important. John, is this a great example of how you want to build your company? Is these these deals that are in place working with the top providers of where you're at? I remember when we had one of our very first interviews, you had said that your plan was to make sure the company is working with the best people around the world with the best technology in order to get to a certain certain goal. And that seems to be just exactly what you're doing here. Yeah, no, thanks for bringing that up, Steve. That's that's exactly it. I mean, we're in a very high tech driven industry lithium iron phosphate, cathode active material that requires tremendous amount of precision. So it's really important that we have that precision all through our entire, you know, integrated supply chain and in our integrated product offering. So we start with the best phosphate rock in the world, which is, you know, out of Quebec, the the purist, which we'll be mining at Beige and La Marsh. And then we move into this licensing, which is, you know, by far the best technology that we know out there for processing this igneous rock. So that is two levels of quality there. And then when we get to the next level, which is producing iron phosphate or lithium iron phosphate powder, we'll be doing that as well with the with the biggest leaders in the world. As you saw from last week, we we struck a very large partnership with GK and Hogenes of of of Tennessee. They're the largest producer of iron powder in the world. So that that speaks to that as well. So, you know, best rock, best technology and partner for purified phosphoric acid, best technology and partner for iron powder. So we've started really right in the upstream, getting the proper players and the proper purity levels and the proper product quality specs from the beginning and moving down the chain with that. So yeah, thank you for for marking that. This is exactly what we've set out to do. That's exactly what we're doing. That's exactly where we're going. Yeah, it makes a lot of sense. John, congratulations on this exciting news from you and we look forward to our next conversation. Okay. Yes. Thank you, Steve. Have a great day. You as well. John Passalac with the CEO of first phosphate.