Element Resources Acreage Lease at Rio Tinto U.S. Borax California Operations

Element Resources, a leader in green hydrogen production, announces the signing of a surface lease agreement with Rio Tinto at the Rio Tinto U.S. Borax mine site in Boron, California, which will be used for the development of a green hydrogen production facility powered by a dedicated, co-located off-grid solar electric generation facility.

Element Resources will have an initial study period to evaluate the commercial viability of a hydrogen production facility.

"We are proud to partner with Element Resources to study this incredibly exciting technology and its potential for our net zero journey," said Renny Dillinger, General Manager, U.S. Borax. "This is just another example of our dedication to decarbonization, and we look forward to working in collaboration with Element Resources in their next steps."

"We are delighted to enter into this agreement with Rio Tinto U.S. Borax," said Steve Meheen, Founder, Chairman & CEO of Element Resources. "We believe that we will ultimately develop an industrial-scale green hydrogen product plant powered by solar energy at the site. The very large acreage footprint combined with excellent solar conditions will enable large scale hydrogen production to help accelerate decarbonization efforts in California and the surrounding region."

About Element Resources

Element Resources Inc. is a development company focused on the production of 100% Green Hydrogen. Based in Houston, TX, Element supports its numerous California initiatives from its San Diego office. The company's key personnel have over 100 years' energy sector development experience. Element selectively invests in hydrogen-related technologies that enable production of zero carbon fuel and holds patents for large capacity, low-cost underground hydrogen storage and advanced, lower-cost hydrogen electrolyzer catalysts. For more information on this project or Element Resources, please email [email protected].

About Rio Tinto

Rio Tinto operates in 35 countries where 57,000 employees are working to find better ways to provide the materials the world needs. Their portfolio includes iron ore, copper, aluminum and a range of other minerals and materials needed for people, communities, and nations to grow and prosper, and for the world to cut carbon emissions to net zero. Rio Tinto has more than 150 years of mining and processing experience guiding their work. Today, their business relies on technology such as automation and artificial intelligence to help them run safer, more efficient operations and leave a lighter footprint.