Inward investing rare earth specialist Pensana has been selected to partner electric vehicle brand Polestar as it works towards creating the first truly climate neutral car by 2030.
Polestar 0 focuses on the entire supply chain, transforming the way production processes are handled, from raw materials to retailers.
Pensana, the London-listed company behind a £150 million complex separation plant at Saltend, is one of 16 firms, described “at the forefront of their respective fields” to sign up. It comes as a wider call for collaboration is issued by the Volvo-owned team behind the ‘moon-shoot’ project.
Read more: Green bond backing for magnet metal specialist Pensana widens investment market
Having recently broken ground on its east of Hull development, where ultra-low carbon magnet metal rare earths will be refined, it has been revealed this summer , while handling materials extracted from a hydro-electric powered state-of-the-art mine in Angola.
Chairman Paul Atherley said: “We are absolutely delighted to collaborate with Polestar and its partners on the Polestar 0 project which is aiming to unlock the full potential of electric vehicles by creating the world’s first climate-neutral car.
“Polestar is majority owned by Volvo which has a proud history of pioneering safety in cars in the Seventies setting the standard for all cars manufactured worldwide. We believe that the Polestar 0 will set the standard for the electric vehicle industry.
“This is a truly innovative project which needs an independent and sustainable supply of rare earths. We are incredibly excited to be working with Polestar and its partners and are very much looking forward to Pensana playing its part in redefining the future of electric vehicle manufacture.”
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It joins Boliden - copper and other metals, Hydro – zero-carbon aluminium, SSAB – fossil-free steel, Sekab – bio-based chemicals, ZF - electric powertrains and others, with each partner will focus on certain processes bringing together world-class research and innovative thinking.
Hans Pehrson, leader of the Polestar 0 project, said: “A project of this ambition requires partners at the cutting-edge of their industries and which are fully engaged in our bold vision.
That’s why I’m looking forward to Pensana becoming a crucial part of our team as we find solutions for developing an entirely climate-neutral supply chain.
“Pensana’s expertise in rare earth supply, including mining, will be invaluable in our mission and will play an integral role in pioneering new and innovative technologies to achieve what has so far been impossible.”
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