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5E Advanced Materials Signs New Offtake Agreements to Supply Boric Acid

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5E Advanced Materials (FEAM) said Wednesday it signed offtake heads of agreement with two clients in the chemicals sector to supply technical grade boric acid from its Fort Cady Integrated Boron facility in southern California.

Each agreement carries an initial five-calendar-year term with an automatic five-year renewal, for a total term of up to 10 years, the company said.

The agreements provide for total annual volumes of 1,900 to 7,100 short tons, according to the company.

Shares of 5E Advanced Materials were up more than 2% in Wednesday trading.

Price: $1.10, Change: $+0.02, Percent Change: +2.34%

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