Levidian and Strategic Resources have announced the execution of a collaboration agreement to study supplying the BlackRock Project's metallurgical facility (owned by Strategic), located in Saguenay, Québec, Canada with Levidian's patented LOOP decarbonization technology. This collaboration agreement enables Strategic to accelerate its hydrogen development roadmap and move towards producing near emissions free iron products for use in electric arc furnaces and steel plants.
Levidian's LOOP system captures the carbon from methane to produce hydrogen and has a unique net cost advantage over other hydrogen production technologies thanks to its use of graphene. The Collaboration Agreement sets the path towards Levidian providing the design for the LOOP system and the LOOP modules as well as the strategic plan for the marketing of the graphene via offtake. The LOOP system was commercialized out of Cambridge University (UK) and is already being deployed to multiple locations globally, across a number of industries.
The BlackRock Project's leased industrial site at Port Saguenay, Québec provides an ideal location to deploy LOOP. Strategic can utilize hydrogen to significantly reduce GHG emissions in the event the Company moves forward with plans to install a 4 million tonne iron ore pellet operation as the first phase of the BlackRock Project. Additional modules of the technology could also be deployed in subsequent phases of the BlackRock Project.