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