Metallium Enters 12-Month Agreement with Environmental Clean Technologies to Evaluate Flash Joule Heating for MXene Production
Metallium (ASX:MTM) entered into a 12-month research and development and engineering support services agreement with Environmental Clean Technologies (ASX:ECT) to evaluate Metallium's proprietary flash joule heating process for the production of ultrathin conductive material MXene, according to separate filings with the Australian bourse on Tuesday.The total cash consideration over the initial 12-month term is up to $1.4 million. Environmental Clean will also issue Metallium 20 million options, exercisable at AU$0.18 per share, and expiring 12 months from issue, subject to shareholder approval.Environmental Clean will conduct a research and development program at Metallium's Gator Point Technology Campus in Texas. Metallium will provide engineering support services, reactor access, and technical expertise.Environmental Clean will own the MXene product produced during the agreed research program, while Metallium will retain ownership of all existing and future intellectual property relating to its reactor systems, engineering improvements, process developments, and technology enhancements. Both firms also agreed to negotiate a potential longer-term commercial license and royalty agreement.
