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Mayur Resources: Signs MoU with Gelion Technologies

Mayur Resources Signs MoU with Gelion Technologies

  • Mayur Resources (MRL) has signed a deal with Gelion Technologies, which will supply Mayur with 100-megawatt hours of battery energy storage from 2022 to 2027
  • Gelion will utilise its zinc-bromide non-flow battery storage technology for Mayur’s renewable energy projects in Papua New Guinea
  • MRL Managing Director Paul Mulder says the agreement builds on its strategic priorities to produce carbon neutral lime and cement and develop a renewable energy portfolio
  • Mayur will also act as Gelion’s sole distributor of the Endure battery to the PNG market during the five-year deal
  • Company shares are down 7.69 per cent to trade at 18 cents
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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