Arianne Phosphate Executes Joint Venture Framework Agreement with Travertine Technologies

Executive Summary

• Arianne Phosphate signed a Joint Venture Framework Agreement with Travertine Technologies to produce purified phosphoric acid (PPA) using Travertine’s proprietary process and Arianne’s high-purity phosphate concentrate.
• The partnership utilizes recycled sulfuric acid to mitigate sulfur market volatility, eliminates phosphogypsum waste, and targets high-value applications including LFP batteries, pharmaceuticals, semiconductors, and food additives.
• Pilot testing is underway with initial results expected within weeks, and Arianne has optioned a facility in Quebec for a larger-scale demonstration plant.

Key Details

• JV Agreement: Signed a Joint Venture Framework Agreement with Travertine Technologies Inc. to serve as the template for the final shareholder agreement between the parties.
• Process & Feedstock: Combines Travertine’s proprietary technology with Arianne’s high-purity, low-contaminant phosphate concentrate, which is optimized for the process.
• Sulfur & Environmental Benefits: The process recycles sulfuric acid, addressing significant cost and supply concerns in the sulfur market. It eliminates phosphogypsum waste by converting it into material usable across other industries, potentially yielding a carbon-neutral/negative by-product.
• Downstream Economics: Removes the requirement and capital expenditure for a sulfur burning operation and reduces ongoing operational expenses tied to sulfuric acid procurement.
• Target Markets: The resulting PPA will meet specifications for LFP batteries, pharmaceuticals, semiconductor production, and food additives.
• Pilot & Demonstration: Pilot scale testing at Travertine’s current facilities is ongoing, with initial results expected within the next few weeks. Arianne has optioned a facility in the Saguenay-Lac-Saint-Jean region for a larger-scale demonstration plant.
• CEO Option Grant: Granted 200,000 stock options to CEO Jeffrey Beck in lieu of salary or cash remuneration. Options entitle him to purchase common shares at $0.425 per share (closing price on grant date), expiring June 2, 2036. Subject to vesting and regulatory approval.

Notable Quotes

• “Since the signing of our MoU, global events have led to significant issues in the sulphur market, greatly effecting many industries including phosphate production... If successful, the implications would be little to no reliance on sulphur. This would remove the requirement and cost of a sulphur burning operation as part of our downstream PPA facility Capex along with the Opex associated with ongoing sulphuric acid costs. Additionally, the process would bring about a large reduction in the environmental footprint of the downstream project and could produce a carbon-neutral/negative by-product. I would say that there is considerable interest on the part of would-be partners in our efforts.” — Brian Ostroff, Head of Strategic & Business Initiatives, Arianne Phosphate