29 Mar Saltend receives first phase backing from the £1 billion Automotive Transformation Fund
Pensana’s proposed world class rare earth separation facility to be located at Saltend Chemicals Park has received first phase progression from the UK Government’s £1 billion Automotive Transformation Fund (“ATF”) which seeks to support the national transition to Electric Vehicles.
The UK electrified supply chain opportunity is estimated at £24 billion over the next five years.
The ATF is a long-term programme designed to enable the UK to build the world’s most comprehensive and compelling electrified vehicle supply chain. It is part of Advanced Propulsion Centre UK, which provides funding, support and insight to help the nation’s automotive industry transition towards a Net Zero future.
The project proposal is anchored by the nationally significant, US$125 million investment in the Saltend facility located at the heart of the Zero Carbon Humber cluster in Humber, Yorkshire.
The Saltend project will create over 100 skilled jobs and will be the world’s first major rare earth separation facility to be established in over a decade.
Pensana’s Chairman, Paul Atherley commented:
“We welcome first phase progression of our project proposal to the Automotive Transformation Fund and plan to work with Government on the establishment of one of the world’s first mine to metal supply chains which will be central to the transition to electric vehicles in the UK and an important step on the journey to our Net Zero future.”