RCS - Tungsten West PLC - Fusion Energy Collaboration

Tungsten WestAnnouncement

12/06/2023 07:00

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RNS Number : 3265C  Tungsten West PLC  12 June 2023

12 June 2023

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

Fusion Energy Collaboration

Tungsten West (AIM:TUN), the mining company focused on restarting production
at the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon,
in the UK, is pleased to announce that it has entered into a strategic
collaboration with Oxford Sigma, a fusion energy company based in Oxfordshire,
UK, to explore and establish critical supply pathway options enabling the use
of the critical material, tungsten, for fusion energy deployment.

Fusion energy is potentially a near-limitless source of carbon-free energy for
the future, and tungsten will be a key component in the process, required for
radiation shielding and plasma-facing components within fusion energy devices.
Fusion energy is actively being developed to reach commercialisation with over
US$5 billion of private investment worldwide. However, without a viable
commercial pathway for the supply of tungsten from raw materials to the fusion
community, the commercialisation of fusion energy faces significant delays.

The strategic collaboration with Oxford Sigma will provide a mutual
combination of skills and assets in order to secure the source of raw tungsten
material in the UK, with the goal of deploying these tungsten-based components
across the globe.

Neil Gawthorpe, CEO of Tungsten West, commented: "We are excited to enter into
this collaboration agreement with Oxford Sigma which represents a significant
step forward in advancing the development of sustainable and clean energy
solutions. Tungsten is a key material required in fusion energy, essential in
several key application areas within the reactors and, as we progress to
production at Hemerdon, we are in a position to supply tungsten globally.

By leveraging our combined expertise and resources with Oxford Sigma, we are
proud to be at the forefront of, and are poised to unlock, the full potential
of tungsten for fusion energy deployment, a potentially limitless carbon free
energy source for the future."

Dr Thomas Davis, CTO of Oxford Sigma, commented: "Commercial fusion power
stations are enroute to become the ultimate energy source. We are excited to
partner with Tungsten West to connect the UK fusion community with the raw
materials necessary to make fusion work. Most of the approaches to fusion that
Oxford Sigma develops depend on large quantities of raw tungsten for various
applications (radiation shielding, plasma-facing components, and liquid metal
resistance coatings). By collaborating with Tungsten West, the door is open to
secure this critical material supply to ensure that the country, and the
world, can deploy the fusion reactors of the future."

About Oxford Sigma

Oxford Sigma tackles energy security and climate change by accelerating the
commercialisation of fusion energy. Oxford Sigma's mission is to deliver
materials technology, materials solutions, and fusion design services in order
to accelerate the commercialisation of fusion energy. Oxford Sigma is
internationally recognised as a key fusion materials and technological leader
within the market. The company operates in the United States, United Kingdom,
European Union, Canada, and Japan.

 

Ends

 

For further information, please contact:

 

Enquiries

 Tungsten West                                                              Strand Hanson

 Neil Gawthorpe/ Nigel Widdowson                                            (Nominated Adviser and Financial Adviser)

 Tel: +44 (0) 1752 278500                                                   James Spinney / James Dance / Abigail Wennington

                                                                            Tel: +44 (0) 207 409 3494
 BlytheRay                                                                  VSA Capital Limited

 (Financial PR)                                                             (Financial Adviser and Joint Broker)

 Tim Blythe / Megan Ray                                                     Andrew Raca / Andrew Monk

 Tel: +44(0) 20 7138 3204                                                   +44 (0)20 3005 5000

 Email:  tungstenwest@blytheray.com (mailto:tungstenwest@blytheray.com)

                                                                            Hannam & Partners

                                                                            (Joint Broker)

                                                                            Andrew Chubb / Matt Hasson / Jay Ashfield

                                                                            +44 (0)20 7907 8500

 

Follow us on twitter @TungstenWest

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