Capstone Green Energy (NASDAQ:CGRN) Receives Two Orders for Innovative Carbon-Neutral Renewable Energy Systems

New Systems will Supply Cost-Effective, Clean Generating Power Using Innovative Biomass Fuels to Provide a Carbon-Neutral Solution

VAN NUYS, CA / ACCESSWIRE / September 23, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has received two orders for externally fired microturbines through its global energy conversion partner, Professor Dr. Berg & Kießling GmbH (B+K) as the generating component within the company’s innovative ClinX system.

The first ClinX system is for a metal processing plant in Brandenburg, Germany. The externally fired Capstone C65 will be part of a Combined Heat and Power (CHP) system that is expected to provide 80% of the facility’s electrical demand, and when adding energy storage, the system should meet all the electric demands of the facility. The system should also provide 100% of the heat required for the drying chambers used in the coating process. Fueled by wood chips sustainably harvested from surrounding forests, this renewable energy system will be completely carbon-neutral, helping the customer achieve its green energy goals.

The second system is part of an upgrade to an existing system currently installed at a municipal utility in Hessen, Germany. The upgraded CHP system will feature a Capstone C200 and use a variety of waste products (heterogeneous biomass) as a fuel by way of a pyrolysis process. Not only should the self-sufficient energy system generate 100% of the facility’s electricity, but it will also provide heat energy for the drying process that prepares the pyrolysis materials. Any unused waste heat can be converted into a higher-quality energy source of electricity.

Both systems are expected to be commissioned in early 2022.

“In the case of the metal processing plant, the shift to 100% renewable energy will have benefits beyond cost savings and energy efficiency, including expanding the company’s ability to bid on projects that have strict environmental requirements,” said Sebastian Kießling, Executive Partner at B+K. “For the municipal utility, the use of post-combustion power generation using an externally-fired microturbine will significantly improve the economics of the project.”

“Clearly, there are enormous upsides to carbon-neutral projects like these, and new partners like B+K are critical to the expanded solutions-based business model we launched on Earth Day earlier this year,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Whether we’re talking about leveraging sustainable and renewable sources, waste byproducts, or hydrogen, fuel flexibility has always been at the very heart of our innovative microturbine technology. We’re excited that these projects demonstrate to other entities and businesses that the path to a green energy future can and does align with their financial goals.”

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Capstone Green Energy (NASDAQ:CGRN) Receives Two Orders for Innovative Carbon-Neutral Renewable Energy Systems

New Systems will Supply Cost-Effective, Clean Generating Power Using Innovative Biomass Fuels to Provide a Carbon-Neutral Solution

VAN NUYS, CA / ACCESSWIRE / September 23, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has received two orders for externally fired microturbines through its global energy conversion partner, Professor Dr. Berg & Kießling GmbH (B+K) as the generating component within the company’s innovative ClinX system.

The first ClinX system is for a metal processing plant in Brandenburg, Germany. The externally fired Capstone C65 will be part of a Combined Heat and Power (CHP) system that is expected to provide 80% of the facility’s electrical demand, and when adding energy storage, the system should meet all the electric demands of the facility. The system should also provide 100% of the heat required for the drying chambers used in the coating process. Fueled by wood chips sustainably harvested from surrounding forests, this renewable energy system will be completely carbon-neutral, helping the customer achieve its green energy goals.

The second system is part of an upgrade to an existing system currently installed at a municipal utility in Hessen, Germany. The upgraded CHP system will feature a Capstone C200 and use a variety of waste products (heterogeneous biomass) as a fuel by way of a pyrolysis process. Not only should the self-sufficient energy system generate 100% of the facility’s electricity, but it will also provide heat energy for the drying process that prepares the pyrolysis materials. Any unused waste heat can be converted into a higher-quality energy source of electricity.

Both systems are expected to be commissioned in early 2022.

“In the case of the metal processing plant, the shift to 100% renewable energy will have benefits beyond cost savings and energy efficiency, including expanding the company’s ability to bid on projects that have strict environmental requirements,” said Sebastian Kießling, Executive Partner at B+K. “For the municipal utility, the use of post-combustion power generation using an externally-fired microturbine will significantly improve the economics of the project.”

“Clearly, there are enormous upsides to carbon-neutral projects like these, and new partners like B+K are critical to the expanded solutions-based business model we launched on Earth Day earlier this year,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Whether we’re talking about leveraging sustainable and renewable sources, waste byproducts, or hydrogen, fuel flexibility has always been at the very heart of our innovative microturbine technology. We’re excited that these projects demonstrate to other entities and businesses that the path to a green energy future can and does align with their financial goals.”

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Gevo Acquires Butamax Patent Estate

ENGLEWOOD, Colo., Sept. 23, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce that it has entered into an asset purchase agreement, dated September 21, 2021, with Butamax Advanced Biofuels LLC (“Butamax”) and its affiliate, Danisco US Inc., to acquire certain patents, leaving Gevo as the only entity with full rights to sublicense the entire Gevo/Butamax isobutanol and isobutanol derivatives patent estate in the fields of fuels, isooctane, industrial chemicals, isobutylene, oligomerized isobutylene, and para-xylene (the “Asset Purchase Agreement”). The transaction contemplated by the Asset Purchase Agreement closed on September 21, 2021 and is subject to certain existing rights and obligations.

The Asset Purchase Agreement provides Gevo with direct ownership and management over the entire known isobutanol patent portfolio of Butamax. Butamax previously entered into a patent cross-license agreement with Gevo effective as of August 22, 2015 (the “Patent-Cross License Agreement”). The Asset Purchase Agreement terminates the Patent-Cross License Agreement in most respects.

In 2020, Gevo commissioned Peak Value IP, LLC to complete a valuation of its worldwide intellectual property that could be licensed and monetized by Gevo. This valuation included the Butamax-owned patents available for Gevo to use and the Gevo-owned patents, patent applications, trade secrets, and know-how (collectively, the “IP”). Peak Value’s analysis yielded an indicative investment valuation of approximately $412 million for the full scope of the Gevo IP portfolio. The Butamax patent estate acquisition is expected to increase Gevo’s intellectual property value, now that Gevo owns the Butamax patents.

“Gevo is ‘all in’ on IBA-related technologies. We are finding strong commercial demand for our products. So, it simply makes sense for us to own the patent estate. In addition, it gives us more flexibility in adding to the combined patent estate and eliminates the complexity for out-licensing that existed under the Patent Cross-License Agreement,” commented Dr. Chris Ryan, President and Chief Operating Officer of Gevo.

For more information and details about the Asset Purchase Agreement and the termination of the Patent Cross-License Agreement, please see the Current Report on Form 8-K that Gevo filed with the U.S. Securities and Exchange Commission on September 23, 2021.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business. Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the Asset Purchase Agreement, the termination of the Patent Cross-License Agreement, the acquisition of the patents from Butamax, Gevo’s control over patents for the production of renewable isobutanol, the benefits of the acquisition of patents, the IP evaluation performed by Peak Value IP, LLC, Gevo’s ability to monetize any patents, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

Capstone Green Energy Distributor E-Finity Secures 2.4 Megawatt Order to Power Major Caribbean Resort

Three Capstone Microturbines Will Provide 100% of the Resort’s Power While Contributing Significantly to Its Sustainability Goals

VAN NUYS, CA / ACCESSWIRE / September 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it continues to expand the low emission microturbine market in the Caribbean with an order for a major Caribbean resort redevelopment project that includes 2.4 megawatts (MWs) of C800 Signature Series (C800S) microturbine energy systems.

The order, secured by E-Finity Distributed Generation (www.e-finity.com), Capstone’s exclusive distributor for the Mid-Atlantic and Southeastern United States and parts of the Caribbean, is expected to be commissioned in the Spring of 2022.

Three Capstone Green Energy propane-fueled C800 Signature Series microturbine energy systems are designed to provide a reliable, environmentally friendly, and cost-effective alternative to the island’s expensive grid power. The new power plant is expected to provide all of the resort’s power while potentially generating millions of dollars in estimated annual electric cost savings and reducing the resort’s carbon footprint.

“Delivering clean, reliable, low-cost power to our Caribbean clients is E-Finity’s number one priority right now,” said Jeff Beiter, E-Finity President and Chief Executive Officer. “Economically, the system has the potential to save the customer millions of dollars; environmentally, it is designed to offset millions of pounds of CO2 per year, equivalent to removing 500+ cars from the road. In fact, no oil deliveries, storage, or disposal are needed with our air lubricated, air-cooled microturbines; I’d say that’s environmentally friendly,” added Mr. Beiter.

This 2.4 MW power plant is designed for N+1 redundancy and is expandable to 3 MW simply by adding another 200 kilowatt (kW) module to each C800S package, making it a C1000S system should the resort expand in the future. The Signature Series products also meets the wind-resistant provisions of the 2018 International Building Code, ASCE 7-16, for wind speeds up to 180 mph.

“This project exemplifies what I call the new breed of forward-looking, progressive developers who are finding creative ways to reduce their carbon footprint as well as lowering their annual operating costs – thus making green by being green,” said Darren Jamison, Capstone Green Energy President and Chief Executive Officer. “This low emission development will adapt to the resort’s growing energy needs over time and is expected to significantly reduce their carbon footprint. All the while, it is anticipated that they will generate reliable electricity at a lower cost than other resorts on the island that still buy power from the utility, which is generated using outdated, higher emissions technologies and more expensive fuels,” concluded Mr. Jamison.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

The U.S. Department of Energy’s (DOE) Argonne National Laboratory Team Up with Gevo to Apply Argonne’s GREET Model to its Net-Zero Project

ENGLEWOOD, Colo., Sept. 20, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) The U.S. Department of Energy’s (DOE) Argonne National Laboratory recently partnered with Gevo, Inc., a Colorado-based producer of energy-dense liquid hydrocarbons such as sustainable aviation fuel (SAF) and renewable premium gasoline, to perform a critical lifecycle analysis of its next-generation technology.

Using data provided by Gevo, Argonne’s Greenhouse gases, Regulated Emissions, and Energy use in Technologies (GREET) Model is expected to yield results regarding carbon footprints of these fuels within a few months. The effort is funded by the DOE’s Bioenergy Technologies Office, which is part of the Office of Energy Efficiency and Renewable Energy (EERE).

“I am thrilled by this partnership and by the DOE’s investment in this project,” said Michael Wang, an Argonne Distinguished Fellow, Senior Scientist, and the Director of the Systems Assessment Center of the Energy Systems division at the laboratory. “This is the type of real-world application GREET was made for.”

GREET’s pioneering lifecycle analysis considers a host of different fuel production pathways. Results include energy use, emissions of greenhouse gases and air pollutants, and water consumption related to the production processes. The analysis also includes results across the whole of the fuel pathway system, from capturing carbon via photosynthesis to the final burning of the fuel.

Uisung Lee, an energy systems analyst in the Systems Assessment Center of the Energy Systems Division at Argonne, said that “Gevo’s commitment to reach net-zero carbon emissions with advanced renewable hydrocarbon fuels, including SAF and renewable premium gasoline made from field corn—not only in relation to the final product but in every stage of the production along the entire supply chain—will show how deep decarbonization of biofuels can be achieved holistically.”

“Biofuels are low carbon already,” Lee said. “But Gevo wants it to be net-zero carbon. That’s an ambitious goal and one that would be a game-changer in the biofuel industry.”

Argonne will examine emissions at every stage of the supply chain: This “field to aircraft wake” analysis will include each possible step from production to combustion. “While it might be impossible to reach zero carbon emissions at every stage, sustainable farming practices and carbon capture from biofuel plants and re-use might help the company reach its goal when measured across the whole biofuel supply chain system,” Wang said. GREET is unique; it is based on well-developed science and it allows for adaptation, and, in this way, can accommodate changes and incorporate new ideas, including those arising in agriculture and forestry, which are so important to innovation.

“We believe in radical transparency when it comes to sustainability. It’s incredibly important to have good data, good models, and use them for decision making, especially when making choices about technologies across the business system. When we find a process where we can reduce our carbon intensity, we have to analyze it, and if it moves us further down the path to our goals, we try to implement it,” says Dr. Patrick Gruber, Chief Executive Officer of Gevo, Inc. “The tools that the GREET model provides are key to our business model. We have used the GREET model as a guidepost for our process because those benefits are realized in the resulting analysis. It’s why our plants are expected to operate on renewable energy, including wind turbines, and why we chose to integrate renewable biogas into our production system. I expect that, as we work through the analysis with Argonne’s team, we will come up with additional great ideas to get our carbon footprint down even further.”

GREET is constantly being improved: The GREET software provides users with a ready-use life cycle analysis tool to perform simulations of alternative transportation fuels and vehicle technologies in just a few minutes. At present, there are more than 48,000 registered GREET users worldwide.

Wang said that Argonne plans on releasing its findings from this collaboration soon.

The Office of Energy Efficiency and Renewable Energy supports early-stage research and development of energy efficiency and renewable energy technologies to strengthen U.S. economic growth, energy security, and environmental quality.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com

Argonne National Laboratory seeks solutions to pressing national problems in science and technology. The nation’s first national laboratory, Argonne conducts leading-edge basic and applied scientific research in virtually every scientific discipline. Argonne researchers work closely with researchers from hundreds of companies, universities, and federal, state and municipal agencies to help them solve their specific problems, advance America’s scientific leadership and prepare the nation for a better future. With employees from more than 60 nations, Argonne is managed by UChicago Argonne, LLC for the U.S. Department of Energy’s Office of Science .

The U.S. Department of Energy’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, visit https://www.energy.gov/science.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s technology, the Department of Energy’s Argonne GREET model, the production of SAF, the attributes of Gevo’s products, Gevo’s Net-Zero Project and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

The U.S. Department of Energy’s (DOE) Argonne National Laboratory Team Up with Gevo to Apply Argonne’s GREET Model to its Net-Zero Project

ENGLEWOOD, Colo., Sept. 20, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) The U.S. Department of Energy’s (DOE) Argonne National Laboratory recently partnered with Gevo, Inc., a Colorado-based producer of energy-dense liquid hydrocarbons such as sustainable aviation fuel (SAF) and renewable premium gasoline, to perform a critical lifecycle analysis of its next-generation technology.

Using data provided by Gevo, Argonne’s Greenhouse gases, Regulated Emissions, and Energy use in Technologies (GREET) Model is expected to yield results regarding carbon footprints of these fuels within a few months. The effort is funded by the DOE’s Bioenergy Technologies Office, which is part of the Office of Energy Efficiency and Renewable Energy (EERE).

“I am thrilled by this partnership and by the DOE’s investment in this project,” said Michael Wang, an Argonne Distinguished Fellow, Senior Scientist, and the Director of the Systems Assessment Center of the Energy Systems division at the laboratory. “This is the type of real-world application GREET was made for.”

GREET’s pioneering lifecycle analysis considers a host of different fuel production pathways. Results include energy use, emissions of greenhouse gases and air pollutants, and water consumption related to the production processes. The analysis also includes results across the whole of the fuel pathway system, from capturing carbon via photosynthesis to the final burning of the fuel.

Uisung Lee, an energy systems analyst in the Systems Assessment Center of the Energy Systems Division at Argonne, said that “Gevo’s commitment to reach net-zero carbon emissions with advanced renewable hydrocarbon fuels, including SAF and renewable premium gasoline made from field corn—not only in relation to the final product but in every stage of the production along the entire supply chain—will show how deep decarbonization of biofuels can be achieved holistically.”

“Biofuels are low carbon already,” Lee said. “But Gevo wants it to be net-zero carbon. That’s an ambitious goal and one that would be a game-changer in the biofuel industry.”

Argonne will examine emissions at every stage of the supply chain: This “field to aircraft wake” analysis will include each possible step from production to combustion. “While it might be impossible to reach zero carbon emissions at every stage, sustainable farming practices and carbon capture from biofuel plants and re-use might help the company reach its goal when measured across the whole biofuel supply chain system,” Wang said. GREET is unique; it is based on well-developed science and it allows for adaptation, and, in this way, can accommodate changes and incorporate new ideas, including those arising in agriculture and forestry, which are so important to innovation.

“We believe in radical transparency when it comes to sustainability. It’s incredibly important to have good data, good models, and use them for decision making, especially when making choices about technologies across the business system. When we find a process where we can reduce our carbon intensity, we have to analyze it, and if it moves us further down the path to our goals, we try to implement it,” says Dr. Patrick Gruber, Chief Executive Officer of Gevo, Inc. “The tools that the GREET model provides are key to our business model. We have used the GREET model as a guidepost for our process because those benefits are realized in the resulting analysis. It’s why our plants are expected to operate on renewable energy, including wind turbines, and why we chose to integrate renewable biogas into our production system. I expect that, as we work through the analysis with Argonne’s team, we will come up with additional great ideas to get our carbon footprint down even further.”

GREET is constantly being improved: The GREET software provides users with a ready-use life cycle analysis tool to perform simulations of alternative transportation fuels and vehicle technologies in just a few minutes. At present, there are more than 48,000 registered GREET users worldwide.

Wang said that Argonne plans on releasing its findings from this collaboration soon.

The Office of Energy Efficiency and Renewable Energy supports early-stage research and development of energy efficiency and renewable energy technologies to strengthen U.S. economic growth, energy security, and environmental quality.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com

Argonne National Laboratory seeks solutions to pressing national problems in science and technology. The nation’s first national laboratory, Argonne conducts leading-edge basic and applied scientific research in virtually every scientific discipline. Argonne researchers work closely with researchers from hundreds of companies, universities, and federal, state and municipal agencies to help them solve their specific problems, advance America’s scientific leadership and prepare the nation for a better future. With employees from more than 60 nations, Argonne is managed by UChicago Argonne, LLC for the U.S. Department of Energy’s Office of Science .

The U.S. Department of Energy’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, visit https://www.energy.gov/science.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s technology, the Department of Energy’s Argonne GREET model, the production of SAF, the attributes of Gevo’s products, Gevo’s Net-Zero Project and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

Capstone Green Energy Distributor E-Finity Secures 2.4 Megawatt Order to Power Major Caribbean Resort

Three Capstone Microturbines Will Provide 100% of the Resort’s Power While Contributing Significantly to Its Sustainability Goals

VAN NUYS, CA / ACCESSWIRE / September 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it continues to expand the low emission microturbine market in the Caribbean with an order for a major Caribbean resort redevelopment project that includes 2.4 megawatts (MWs) of C800 Signature Series (C800S) microturbine energy systems.

The order, secured by E-Finity Distributed Generation (www.e-finity.com), Capstone’s exclusive distributor for the Mid-Atlantic and Southeastern United States and parts of the Caribbean, is expected to be commissioned in the Spring of 2022.

Three Capstone Green Energy propane-fueled C800 Signature Series microturbine energy systems are designed to provide a reliable, environmentally friendly, and cost-effective alternative to the island’s expensive grid power. The new power plant is expected to provide all of the resort’s power while potentially generating millions of dollars in estimated annual electric cost savings and reducing the resort’s carbon footprint.

“Delivering clean, reliable, low-cost power to our Caribbean clients is E-Finity’s number one priority right now,” said Jeff Beiter, E-Finity President and Chief Executive Officer. “Economically, the system has the potential to save the customer millions of dollars; environmentally, it is designed to offset millions of pounds of CO2 per year, equivalent to removing 500+ cars from the road. In fact, no oil deliveries, storage, or disposal are needed with our air lubricated, air-cooled microturbines; I’d say that’s environmentally friendly,” added Mr. Beiter.

This 2.4 MW power plant is designed for N+1 redundancy and is expandable to 3 MW simply by adding another 200 kilowatt (kW) module to each C800S package, making it a C1000S system should the resort expand in the future. The Signature Series products also meets the wind-resistant provisions of the 2018 International Building Code, ASCE 7-16, for wind speeds up to 180 mph.

“This project exemplifies what I call the new breed of forward-looking, progressive developers who are finding creative ways to reduce their carbon footprint as well as lowering their annual operating costs – thus making green by being green,” said Darren Jamison, Capstone Green Energy President and Chief Executive Officer. “This low emission development will adapt to the resort’s growing energy needs over time and is expected to significantly reduce their carbon footprint. All the while, it is anticipated that they will generate reliable electricity at a lower cost than other resorts on the island that still buy power from the utility, which is generated using outdated, higher emissions technologies and more expensive fuels,” concluded Mr. Jamison.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Energy Fuels Establishes the San Juan County Clean Energy Foundation with Potential to Contribute Millions to Local Communities

BLANDING, Utah, Sept. 16, 2021 /CNW/ – At its recent open house showcasing its uranium and rare earth businesses for local and national dignitaries and industry leaders, Energy Fuels Inc. (“Energy Fuels” or the “Company”) announced the establishment of the San Juan County Clean Energy Foundation, a fund specifically designed to contribute to the communities surrounding Energy Fuels’ White Mesa Mill in Southeastern, Utah. 

          This week, Energy Fuels deposited $1 million into the Foundation and anticipates providing ongoing annual funding equal to 1% of the Mill’s future revenues, providing funding to support the local economy and local priorities. The Foundation will focus on supporting education, the environment, health/wellness, and economic advancement in the City of Blanding, San Juan County, the White Mesa Ute Community, the Navajo Nation and other area communities. 

          “The communities that surround our facility deserve to share in the benefits of the Mill’s clean energy future,” said Mark Chalmers, CEO of Energy Fuels. “Uranium, which is the fuel for carbon-free, emission-free baseload nuclear power, is one of the cleanest forms of energy in the world. The rare earth’s we are now producing are used for the manufacture of permanent magnets for electric vehicles, wind turbines and other clean energy and modern technologies, and the thorium and other radioisotopes we are evaluating for recovery from our rare earth and uranium processing streams have the potential to provide the isotopes needed for emerging targeted alpha therapy cancer-fighting therapeutics. The very heart of our business – uranium and rare-earth production and recycling – helps us play a big part in addressing global climate change, reducing air pollution, and making the world a cleaner and healthier place. We see San Juan County as becoming a critical minerals hub for the U.S., and we believe the Foundation is truly the best way to make an impact and difference in the lives of those who work alongside us as we pursue these goals.”

          Company executives met with local community members to better understand and identify how the Foundation will strategically support the local communities and how to best structure the Foundation. 

          “Energy Fuels has long been a major contributor to not only the employment base of the community but also for the well-being and prosperity of this region,” said Blanding’s Mayor Joe B. Lyman. “Over the last year, the Company has met with local community members to understand and identify needs in the area. The formation of the Foundation is a culmination of these efforts and the beginning of a long-term commitment to improve the quality of life for everyone in the San Juan County area to help us reach our full potential.” To ensure that the Foundation’s contributions are well-planned and correspond to the specific needs and aspirations of the communities, the Foundation will have a community-based Advisory Board to help it determine the best allocation for the funds.  

          “The processing of rare earths at the White Mesa Mill, in addition to processing and recycling uranium, is one of the best opportunities I have seen in my entire 40+ year career, as electric vehicles, renewable energy systems, and other clean energy and advanced technologies drive demand,” continued Mr. Chalmers. “And, the potential to also extract isotopes that can be used to fight cancer is a very important added opportunity. Investing back into the San Juan County community will give us the opportunity to help support and catalyze sustainable economic and community development, beyond good jobs and more tax revenues.” 

          With a population of a little more than 3,000 people, Blanding is the most populous city in San Juan County. Economic contributors include mineral processing, mining, agriculture, local commerce, tourism, and transportation. The community is also a gateway to nearby natural, cultural and archaeological resources. Energy Fuels’ rare earth initiative will only involve mineral processing, and it is not expected to involve any new mining in the region. 

          Energy Fuels is a leading U.S.-based uranium mining company, supplying U₃O₈?to major nuclear utilities. Energy Fuels also produces vanadium from certain projects, as market conditions warrant, as well as rare earth carbonate. With corporate offices in?Lakewood, Colorado, near?Denver, and all of its assets and employees in?the United States, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in?Utah, the Nichols Ranch in-situ recovery (ISR) Project in?Wyoming, and the Alta Mesa ISR Project in?Texas. Energy Fuels is a publicly traded company on the NYSE under the trading symbol “UUUU,” and its common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is?www.energyfuels.com  

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation as to future production of uranium at the Mill; any expectation as to future production of rare earth products at the Mill; any expectation as to future production of thorium and other radioisotopes for use in emerging targeted alpha therapies; any expectation as to future revenues at the Mill; any expectation that San Juan County will become a critical minerals hub for the U.S.; any expectation as to any ongoing annual funding for the Foundation or the longevity of the Foundation; any expectation that the Foundation will provide the potential to contribute millions to local communities; any expectation as to the manner in which the Foundation will distribute or invest its funds; and any expectation that the Foundation’s money will help support and catalyze sustainable economic and community development, beyond good jobs and more tax revenues. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices; processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of uranium, rare earth products, thorium and other radioisotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; market factors, including future demand for and prices realized from the sale of uranium, rare earth products, and thorium or other radioisotopes produced at the Mill; and any changes that may be made to the structure, funding or term of the Foundation if the Company determines at any time that the Foundation is not achieving its objectives or to better meet its objectives. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

Energy Fuels Hosts Mining, Environmental and Political Heavyweights to Showcase Uranium Activities and Introduce Production of Rare Earths at its Blanding, Utah Facility

Shipments of commercial quantities of rare earths from Energy Fuels’ White Mesa Mill in Blanding represent a milestone in the creation of a new supply chain reducing dependence on foreign suppliers, while boosting significant economic potential to the area

BLANDING, Utah, Sept. 16, 2021 /CNW/ – Energy Fuels’ President and CEO, Mark Chalmers is hosting business, community and industry heavyweights in Blanding, Utah to introduce the commencement of production and shipments of an intermediate rare earth element (“REE”) product, called mixed rare earth carbonate (“RE Carbonate”), at its Utah-based White Mesa Mill (the “Mill”). Approximately 15 containers of RE Carbonate (300 tonnes of product) produced at the Mill is being shipped to Europe where it will be processed into separated rare earth oxides and other value-added RE compounds, thereby creating a new U.S. to Europe RE supply chain along with new opportunities and financial benefits for the surrounding communities. The Mill will be producing rare earths as a complement to its established uranium production business.

The Company will also showcase its U.S. industry-leading uranium production capabilities. Energy Fuels has been the largest producer of uranium in the U.S. for the past several years, boasting more uranium production facilities, mines and capacity than any other U.S. company. The White Mesa Mill is the largest uranium production facility in the US and America’s only operating uranium mill. Uranium is seeing increased interest recently, as it is the fuel for nuclear energy, which is the largest source of clean, carbon free energy in the U.S.

REEs are necessary in the production of hundreds of everyday and specialty items with a wide range of consumer applications, including cell phones, computer hard drives, electric and hybrid vehicles, and flat screen monitors and televisions. They also have significant national defense uses including electronic displays, guidance systems, lasers, and radar and sonar systems. Furthermore, with the global push to reduce greenhouse gas emissions, the expansion of green technologies such as solar and wind will continue to play a critical role, and REEs are a fundamental raw material used in the manufacturing of these clean energy sources. There are currently no U.S. companies producing separated REE oxides or any other advanced or value-added REE compounds, thereby making the US 100% dependent on the importation of these critical materials. Energy Fuels is determined to reverse that reliance and lessen the risk of disruption to the clean energy economy and our national defense. 

“This is an exciting time for all of us at Energy Fuels in both the uranium and rare earth sectors,” said Chalmers. “We believe the San Juan County community will benefit greatly from this rare earth initiative, as it will offer not only a safe, environmentally sensible, and domestically-generated product, but it will also stimulate local employment and be an economic boost to the area.” The White Mesa Mill is currently one of the largest private employers in the county, and it is estimated that this new rare earth effort could result in an investment of hundreds of millions of dollars into the facility, which could translate into 100+ jobs in the region—one of the largest reinvestments this region has seen in decades. “In addition to the economic benefits to Utah, restoring rare earth production to the United States will greatly benefit the entire U.S. economy and manufacturing sector by providing a domestic source of clean energy materials produced to the highest global standards for environmental protection, sustainability and human rights, while also allowing for source validation and tracking from mining through final end-use applications,” added Chalmers. “With the increased demand for rare earths—up to a fivefold demand increase over the next 10 years—we will need all hands-on deck. Combined with the current resurgence in uranium, rare earths represent a truly an immense opportunity for San Juan County, the State of Utah, and the United States as a whole.”

This move by Energy Fuels comes at a time when the Biden administration has made it a priority to reestablish the rare earths industry in the US. Currently, China dominates every aspect of the REE industry from mining to the manufacturing of REE magnets. In the early 1990’s, China produced 38% of world’s REEs, the US produced 33%, Australia produced 12%, and Malaysia and India produced a combined five percent with several smaller countries making up the rest (Source: What are rare earth elements, and why are they important? | American Geosciences Institute). However, a significant shift in those percentages occurred, and by 2011 97% of the world’s REEs were produced in China. While China is expected to continue as the dominant player in the global REE industry, Energy Fuels believes it can create a low-cost, secure domestic alternative for end-users seeking diversity of supply and competition.

Headquartered in Lakewood, Colorado, Energy Fuels currently plans to ramp up to process up to at least 15,000 tons of monazite per year at its White Mesa Mill. This amount of monazite contains roughly 50% of current U.S. rare earth demand, along with significant quantities of uranium, which will be recovered for use in domestic nuclear energy production.  “Energy Fuels and our partner, Neo Performance Materials, have made significant steps toward restoring critical U.S. and European rare earth supply chains,” added Chalmers. “We are strategically seeking to increase our rare earth carbonate production in the coming years, since we first started acquiring monazite ore produced in the State of Georgia earlier this year.”

Successfully producing REEs, and physically delivering the first containers of RE Carbonate to Neo for separation, is an important achievement, not only for Energy Fuels, but also for the U.S. government and its efforts to restore critical rare earth supply chains. This is also good news for end-users of rare earth products in the U.S., Europe, Japan and elsewhere who seek alternative sources of rare earths produced in the U.S. and Europe that adhere to the highest global regulations and standards of environmental protection and sustainability as well as keeping a close eye on human rights.

Because monazite contains naturally occurring radioactive elements, including uranium, the White Mesa Mill is the ideal location to process this valuable material. The Mill will recover the uranium from the monazite, which will be used for the generation of clean nuclear energy. The Mill is also evaluating the recovery of thorium which has potential uses in advanced nuclear technologies along with medical isotopes needed for emerging targeted alpha cancer therapies. In addition, the monazite that is received from Georgia contains over 50% REEs, which means Energy Fuels can recover large quantities of REEs while generating relatively tiny amounts of waste. “We have an exceptional track record of environmental protection and regulatory compliance at the Mill. We also have a lot of experience in safely handling and working responsibly with low-level, natural radioactive elements contained in a variety of uranium ores and recycled alternate feed materials,” stated Curtis Moore, Energy Fuels’ VP of Marketing and Corporate Development. “Monazite sand contains roughly the same percentage of uranium as the ore found in mines in the Four Corners’ region. So, we know we will responsibly process it for the recovery of the raw materials needed for various clean energy and advanced technologies. The safety of our community and our employees is and will always remain paramount. We also are evaluating how we can do more for our local communities, particularly local Navajo, Ute, and other Native American communities.”

“Energy Fuels recognizes the lingering distrust in communities that witnessed and experienced the health and environmental impacts from historic Cold War uranium mining operations, which continue to impact perceptions. We are deeply committed to addressing the world’s most pressing environmental issues, while advancing toward the electrification of the world economy. We believe that unlocking the value of domestically produced monazite and the domestic production of rare earths, combined with our existing uranium business, is a significantly positive step.” Energy Fuels has and continues to be profoundly committed to responsible and modern mining and production, and all U.S. uranium and REE production is done to the highest global standards for environmental protection and human rights.

About Energy Fuels: Energy Fuels is a leading US-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium for certain projects, as market conditions warrant, as well as rare earth carbonate. With corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees in the United States, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. Energy Fuels’ website is www.energyfuels.com.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation as to future production of uranium at the Mill; any expectation as to future production of rare earth products at the Mill or creation of a new U.S. to Europe supply chain; any expectation as to the Company’s ability to increase rare earth carbonate production; any expectations as to increased demand for rare earths; any expectation as to future production of thorium and other radioisotopes for use in emerging targeted alpha therapies; any expectation as to future revenues at the Mill; any expectation that San Juan County or Utah will realize significant economic benefits or that the Company’s rare earth initiative will create 100+ jobs; any expectation that Energy Fuels will reverse America’s reliance on imports or lessen the risk of disruption for critical minerals; any expectation that Energy Fuels will create a low-cost, secure domestic alternative for end-users seeking diversity of supply and competition. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices; processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of uranium, rare earth products, thorium and other radioisotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; market factors, including future demand for and prices realized from the sale of uranium, rare earth products, and thorium or other radioisotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

Energy Fuels Hosts Mining, Environmental and Political Heavyweights to Showcase Uranium Activities and Introduce Production of Rare Earths at its Blanding, Utah Facility

Shipments of commercial quantities of rare earths from Energy Fuels’ White Mesa Mill in Blanding represent a milestone in the creation of a new supply chain reducing dependence on foreign suppliers, while boosting significant economic potential to the area

BLANDING, Utah, Sept. 16, 2021 /CNW/ – Energy Fuels’ President and CEO, Mark Chalmers is hosting business, community and industry heavyweights in Blanding, Utah to introduce the commencement of production and shipments of an intermediate rare earth element (“REE”) product, called mixed rare earth carbonate (“RE Carbonate”), at its Utah-based White Mesa Mill (the “Mill”). Approximately 15 containers of RE Carbonate (300 tonnes of product) produced at the Mill is being shipped to Europe where it will be processed into separated rare earth oxides and other value-added RE compounds, thereby creating a new U.S. to Europe RE supply chain along with new opportunities and financial benefits for the surrounding communities. The Mill will be producing rare earths as a complement to its established uranium production business.

The Company will also showcase its U.S. industry-leading uranium production capabilities. Energy Fuels has been the largest producer of uranium in the U.S. for the past several years, boasting more uranium production facilities, mines and capacity than any other U.S. company. The White Mesa Mill is the largest uranium production facility in the US and America’s only operating uranium mill. Uranium is seeing increased interest recently, as it is the fuel for nuclear energy, which is the largest source of clean, carbon free energy in the U.S.

REEs are necessary in the production of hundreds of everyday and specialty items with a wide range of consumer applications, including cell phones, computer hard drives, electric and hybrid vehicles, and flat screen monitors and televisions. They also have significant national defense uses including electronic displays, guidance systems, lasers, and radar and sonar systems. Furthermore, with the global push to reduce greenhouse gas emissions, the expansion of green technologies such as solar and wind will continue to play a critical role, and REEs are a fundamental raw material used in the manufacturing of these clean energy sources. There are currently no U.S. companies producing separated REE oxides or any other advanced or value-added REE compounds, thereby making the US 100% dependent on the importation of these critical materials. Energy Fuels is determined to reverse that reliance and lessen the risk of disruption to the clean energy economy and our national defense. 

“This is an exciting time for all of us at Energy Fuels in both the uranium and rare earth sectors,” said Chalmers. “We believe the San Juan County community will benefit greatly from this rare earth initiative, as it will offer not only a safe, environmentally sensible, and domestically-generated product, but it will also stimulate local employment and be an economic boost to the area.” The White Mesa Mill is currently one of the largest private employers in the county, and it is estimated that this new rare earth effort could result in an investment of hundreds of millions of dollars into the facility, which could translate into 100+ jobs in the region—one of the largest reinvestments this region has seen in decades. “In addition to the economic benefits to Utah, restoring rare earth production to the United States will greatly benefit the entire U.S. economy and manufacturing sector by providing a domestic source of clean energy materials produced to the highest global standards for environmental protection, sustainability and human rights, while also allowing for source validation and tracking from mining through final end-use applications,” added Chalmers. “With the increased demand for rare earths—up to a fivefold demand increase over the next 10 years—we will need all hands-on deck. Combined with the current resurgence in uranium, rare earths represent a truly an immense opportunity for San Juan County, the State of Utah, and the United States as a whole.”

This move by Energy Fuels comes at a time when the Biden administration has made it a priority to reestablish the rare earths industry in the US. Currently, China dominates every aspect of the REE industry from mining to the manufacturing of REE magnets. In the early 1990’s, China produced 38% of world’s REEs, the US produced 33%, Australia produced 12%, and Malaysia and India produced a combined five percent with several smaller countries making up the rest (Source: What are rare earth elements, and why are they important? | American Geosciences Institute). However, a significant shift in those percentages occurred, and by 2011 97% of the world’s REEs were produced in China. While China is expected to continue as the dominant player in the global REE industry, Energy Fuels believes it can create a low-cost, secure domestic alternative for end-users seeking diversity of supply and competition.

Headquartered in Lakewood, Colorado, Energy Fuels currently plans to ramp up to process up to at least 15,000 tons of monazite per year at its White Mesa Mill. This amount of monazite contains roughly 50% of current U.S. rare earth demand, along with significant quantities of uranium, which will be recovered for use in domestic nuclear energy production.  “Energy Fuels and our partner, Neo Performance Materials, have made significant steps toward restoring critical U.S. and European rare earth supply chains,” added Chalmers. “We are strategically seeking to increase our rare earth carbonate production in the coming years, since we first started acquiring monazite ore produced in the State of Georgia earlier this year.”

Successfully producing REEs, and physically delivering the first containers of RE Carbonate to Neo for separation, is an important achievement, not only for Energy Fuels, but also for the U.S. government and its efforts to restore critical rare earth supply chains. This is also good news for end-users of rare earth products in the U.S., Europe, Japan and elsewhere who seek alternative sources of rare earths produced in the U.S. and Europe that adhere to the highest global regulations and standards of environmental protection and sustainability as well as keeping a close eye on human rights.

Because monazite contains naturally occurring radioactive elements, including uranium, the White Mesa Mill is the ideal location to process this valuable material. The Mill will recover the uranium from the monazite, which will be used for the generation of clean nuclear energy. The Mill is also evaluating the recovery of thorium which has potential uses in advanced nuclear technologies along with medical isotopes needed for emerging targeted alpha cancer therapies. In addition, the monazite that is received from Georgia contains over 50% REEs, which means Energy Fuels can recover large quantities of REEs while generating relatively tiny amounts of waste. “We have an exceptional track record of environmental protection and regulatory compliance at the Mill. We also have a lot of experience in safely handling and working responsibly with low-level, natural radioactive elements contained in a variety of uranium ores and recycled alternate feed materials,” stated Curtis Moore, Energy Fuels’ VP of Marketing and Corporate Development. “Monazite sand contains roughly the same percentage of uranium as the ore found in mines in the Four Corners’ region. So, we know we will responsibly process it for the recovery of the raw materials needed for various clean energy and advanced technologies. The safety of our community and our employees is and will always remain paramount. We also are evaluating how we can do more for our local communities, particularly local Navajo, Ute, and other Native American communities.”

“Energy Fuels recognizes the lingering distrust in communities that witnessed and experienced the health and environmental impacts from historic Cold War uranium mining operations, which continue to impact perceptions. We are deeply committed to addressing the world’s most pressing environmental issues, while advancing toward the electrification of the world economy. We believe that unlocking the value of domestically produced monazite and the domestic production of rare earths, combined with our existing uranium business, is a significantly positive step.” Energy Fuels has and continues to be profoundly committed to responsible and modern mining and production, and all U.S. uranium and REE production is done to the highest global standards for environmental protection and human rights.

About Energy Fuels: Energy Fuels is a leading US-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium for certain projects, as market conditions warrant, as well as rare earth carbonate. With corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees in the United States, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. Energy Fuels’ website is www.energyfuels.com.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation as to future production of uranium at the Mill; any expectation as to future production of rare earth products at the Mill or creation of a new U.S. to Europe supply chain; any expectation as to the Company’s ability to increase rare earth carbonate production; any expectations as to increased demand for rare earths; any expectation as to future production of thorium and other radioisotopes for use in emerging targeted alpha therapies; any expectation as to future revenues at the Mill; any expectation that San Juan County or Utah will realize significant economic benefits or that the Company’s rare earth initiative will create 100+ jobs; any expectation that Energy Fuels will reverse America’s reliance on imports or lessen the risk of disruption for critical minerals; any expectation that Energy Fuels will create a low-cost, secure domestic alternative for end-users seeking diversity of supply and competition. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices; processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of uranium, rare earth products, thorium and other radioisotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; market factors, including future demand for and prices realized from the sale of uranium, rare earth products, and thorium or other radioisotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

Energy Fuels Establishes the San Juan County Clean Energy Foundation with Potential to Contribute Millions to Local Communities

BLANDING, Utah, Sept. 16, 2021 /CNW/ – At its recent open house showcasing its uranium and rare earth businesses for local and national dignitaries and industry leaders, Energy Fuels Inc. (“Energy Fuels” or the “Company”) announced the establishment of the San Juan County Clean Energy Foundation, a fund specifically designed to contribute to the communities surrounding Energy Fuels’ White Mesa Mill in Southeastern, Utah. 

          This week, Energy Fuels deposited $1 million into the Foundation and anticipates providing ongoing annual funding equal to 1% of the Mill’s future revenues, providing funding to support the local economy and local priorities. The Foundation will focus on supporting education, the environment, health/wellness, and economic advancement in the City of Blanding, San Juan County, the White Mesa Ute Community, the Navajo Nation and other area communities. 

          “The communities that surround our facility deserve to share in the benefits of the Mill’s clean energy future,” said Mark Chalmers, CEO of Energy Fuels. “Uranium, which is the fuel for carbon-free, emission-free baseload nuclear power, is one of the cleanest forms of energy in the world. The rare earth’s we are now producing are used for the manufacture of permanent magnets for electric vehicles, wind turbines and other clean energy and modern technologies, and the thorium and other radioisotopes we are evaluating for recovery from our rare earth and uranium processing streams have the potential to provide the isotopes needed for emerging targeted alpha therapy cancer-fighting therapeutics. The very heart of our business – uranium and rare-earth production and recycling – helps us play a big part in addressing global climate change, reducing air pollution, and making the world a cleaner and healthier place. We see San Juan County as becoming a critical minerals hub for the U.S., and we believe the Foundation is truly the best way to make an impact and difference in the lives of those who work alongside us as we pursue these goals.”

          Company executives met with local community members to better understand and identify how the Foundation will strategically support the local communities and how to best structure the Foundation. 

          “Energy Fuels has long been a major contributor to not only the employment base of the community but also for the well-being and prosperity of this region,” said Blanding’s Mayor Joe B. Lyman. “Over the last year, the Company has met with local community members to understand and identify needs in the area. The formation of the Foundation is a culmination of these efforts and the beginning of a long-term commitment to improve the quality of life for everyone in the San Juan County area to help us reach our full potential.” To ensure that the Foundation’s contributions are well-planned and correspond to the specific needs and aspirations of the communities, the Foundation will have a community-based Advisory Board to help it determine the best allocation for the funds.  

          “The processing of rare earths at the White Mesa Mill, in addition to processing and recycling uranium, is one of the best opportunities I have seen in my entire 40+ year career, as electric vehicles, renewable energy systems, and other clean energy and advanced technologies drive demand,” continued Mr. Chalmers. “And, the potential to also extract isotopes that can be used to fight cancer is a very important added opportunity. Investing back into the San Juan County community will give us the opportunity to help support and catalyze sustainable economic and community development, beyond good jobs and more tax revenues.” 

          With a population of a little more than 3,000 people, Blanding is the most populous city in San Juan County. Economic contributors include mineral processing, mining, agriculture, local commerce, tourism, and transportation. The community is also a gateway to nearby natural, cultural and archaeological resources. Energy Fuels’ rare earth initiative will only involve mineral processing, and it is not expected to involve any new mining in the region. 

          Energy Fuels is a leading U.S.-based uranium mining company, supplying U₃O₈?to major nuclear utilities. Energy Fuels also produces vanadium from certain projects, as market conditions warrant, as well as rare earth carbonate. With corporate offices in?Lakewood, Colorado, near?Denver, and all of its assets and employees in?the United States, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in?Utah, the Nichols Ranch in-situ recovery (ISR) Project in?Wyoming, and the Alta Mesa ISR Project in?Texas. Energy Fuels is a publicly traded company on the NYSE under the trading symbol “UUUU,” and its common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is?www.energyfuels.com  

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation as to future production of uranium at the Mill; any expectation as to future production of rare earth products at the Mill; any expectation as to future production of thorium and other radioisotopes for use in emerging targeted alpha therapies; any expectation as to future revenues at the Mill; any expectation that San Juan County will become a critical minerals hub for the U.S.; any expectation as to any ongoing annual funding for the Foundation or the longevity of the Foundation; any expectation that the Foundation will provide the potential to contribute millions to local communities; any expectation as to the manner in which the Foundation will distribute or invest its funds; and any expectation that the Foundation’s money will help support and catalyze sustainable economic and community development, beyond good jobs and more tax revenues. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices; processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of uranium, rare earth products, thorium and other radioisotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; market factors, including future demand for and prices realized from the sale of uranium, rare earth products, and thorium or other radioisotopes produced at the Mill; and any changes that may be made to the structure, funding or term of the Foundation if the Company determines at any time that the Foundation is not achieving its objectives or to better meet its objectives. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.