Evolution Metals & Technologies Corp.
For the period ended Sep 30, 2026. Filed Oct 6, 2026.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Sep 30, 2026 · Filed Oct 6, 2026
Contents
EX-99.1 · Partnership Scope
Partnership Scope
| ● | Full-scope delivery partner: design, supply, project management, integration and commissioning for the first block, with the parties intending to extend the partnership through the balance of the First Phase and the Facility’s expansion to full capacity. |
| ● | Ten-year service horizon: remote monitoring, maintenance, repair, service and end-of-life repowering of installed systems under a long-term service agreement with an anticipated initial term of ten years. |
| ● | EM&T owns its data: all Facility-specific operating, process and performance data remains EM&T’s property, with continuous access and export rights. |
| ● | Flexible commercial models: EM&T will select between outright ownership with a service agreement or an energy-services structure under which a financing vehicle arranged by INERGX owns the systems and EM&T pays for capacity and services. |
| ● | Preferred partner for future facilities: upon successful completion of the First Block Study, INERGX is positioned as EM&T’s preferred energy storage and power optimization partner for further EM&T-developed facilities. |
“Every serious industrial build in America is now a power story — and EM&T intends to own its own,” said David Wilcox, Executive Chairman of Evolution Metals & Technologies. “We are planning a facility that will draw as much power as five nuclear reactors — the equivalent of approximately 4 million American homes — and we are making sure every battery in that system comes from outside China and can ultimately come back to us as feedstock. That is not an energy contract. That is EM&T building a closed-loop, American-controlled critical materials platform from the power plant up.”
“EM&T is building at a scale where power quality is not a utility line item — it is the process,” said Dominic White, Director of INERGX Energy Optimisation Ltd. “Our team and our accredited engineering and testing partners are ready to move quickly on the First Block Study and to deliver a design that scales cleanly from the first block to full build-out.”
The LOI sets out the principal terms on which EM&T and INERGX intend to negotiate a statement of work for the First Block Study and definitive agreements for the partnership.
The partnership comes as EM&T executes on its previously announced fiscal 2027 revenue guidance of $400 million to $460 million, which reflects the expected first full-year contribution from the expansion of its rare earth magnet production capacity in Pohang, Republic of Korea, to approximately 10,000 metric tons annually, including approximately 6,000 metric tons of high-performance sintered NdFeB magnets, as the January 1, 2027 DFARS mine-to-magnet restriction takes effect. The Facility and the INERGX partnership extend EM&T’s platform into U.S.-based critical materials and battery black mass recovery.
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