AEM Canada acquires leading global, High Purity Alumina (HPA) Producer

HPA is used in Electric Vehicle ? Lithium Ion Batteries and LED's

MONTREAL, April 6, 2020 /CNW Telbec/ - AEM Canada Group lnc. (AEM Canada) has acquired the assets of Orbite Technologies Inc. (Orbite) following a vesting order issued by the Superior Court of Québec on March 30, 2020. Orbite is a leading global technology company specializing in the production of high purity minerals.

Orbite has been under the protection of the Companies' Creditors Arrangement Act since April 2017. The assets, AEM Canada is buying from Orbite includes its Cap-Chat process plant, its technical development centre located in Laval and its suite of 41 patent is associated with the process technology it has developed for the Cap-Chat plant.

AEM Canada, CEO - Mr. Julian Ford - spent three months at the Laval facility in 2019 where he gained a detailed insight into Orbite's operations and technology.

The Cap-Chat plant is capable of producing 5N (99.999%) high purity alumina (HPA) which is forecast to be in high demand from the rapidly expanding electric vehicle - lithium ion battery sector.

The Orbite assets were put up for sale in July 2019. AEM Canada acquired a license to use Orbite's technology in December 2019, and has since been negotiating to acquire its assets.

AEM Canada aims to be the world's preferred supplier of 5N HPA to the emerging electric vehicle - lithium ion battery (EV-LIB) mega factories currently being built across Europe.

SOURCE AEM Canada Inc