London, UK – 27th November, 2024

Magmec announces its acceptance for Innovate UK Business Growth. This milestone advances Magmec’s commitment for sustainable brine mining to produce low-cost structural metal.

Innovate UK’s Business Growth support program is designed to help innovative businesses accelerate their growth through tailored, one-to-one coaching and access to a broad ecosystem of local, national, and international partners. Magmec will benefit from expert guidance to refine its commercial strategy, funding opportunities, and expand into international markets.

Magmec’s technology tackles the challenge of decarbonising mineral and metal production, a hard-to-abate sector responsible for an estimated 10% of global greenhouse gas emissions annually. Magmec eliminates the need for land-based mining and its associated emissions by using brine, which can be sourced from coastlines or as a waste by-product of water desalination. This process produces low-carbon metal to meet the growing demand for critical materials in industries like aerospace, automotive, and high-tech.

This partnership is a step forward in Magmec’s journey to support build a more sustainable future and make a global impact in the fight against climate change.

About Magmec

Magmec produces low-carbon magnesium metal from coastal brine sources, including water desalination by-products, turning industrial waste into valuable materials no longer relying on traditional land-based mining.

About Innovate UK

Innovate UK is the United Kingdom’s innovation agency, which provides funding and support to organisations developing new products and services.