AMG Vanadium Acquires a Suite of Processing Related Technologies and IP Related Activities from Transformation Technologies Inc.

Amsterdam, 5 February 2024 --- AMG Critical Materials N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that AMG Vanadium has acquired a suite of processing technologies and IP related activities from Transformation Technologies Inc. (“TTI”), a US-based company focused on the creation of green energy, green oil and recyclable metals.

TTI has developed a unique technology for thermal treatment of spent catalyst and other oil refinery wastes into valuable products which is highly complementary to AMG’s existing spent catalyst processing technology and know-how. AMG will integrate the TTI technology into its global strategic growth initiatives. AMG and TTI will also cooperate in market development areas where TTI has strong experience in the design and construction of plants using TTI technologies.

Thomas Centa, President of AMG Vanadium, commented, “This acquisition amplifies our leadership position in recycling refinery waste and further improves the value proposition we offer the global oil refining industry. By leveraging the synergies of TTI and AMG’s technologies, we can improve both the efficiency and CO₂ footprint in our expanding global recycling operations which are conducted through our Shell & AMG Recycling joint venture.”

About Transformation Technologies Inc.

Transformation Technologies was incorporated in 2018 by merging three successful environmental technology companies. The companies all had over 25 years of experience in waste-to-energy, waste-to-beneficial use, and climate control technologies. The technologies created by all three companies were contributed and created the building blocks for a circular solutions company. The goal of the merging companies was to create solutions for environmental problems with an emphasis on recycling. All solutions created are from proven technologies that are componentized into process flows that leave a zero-waste footprint. The focus is the creation of green energy, green oil, and recyclable metals. Transformation Technologies has focused their efforts on green oil in the Middle East and Green Energy and Metals recycling in Asia.

About AMG

AMG's mission is to provide critical materials and related process technologies to advance a less carbon-intensive world. To this end, AMG is focused on the production and development of energy storage materials such as lithium, vanadium, and tantalum. In addition, AMG's products include highly engineered systems to reduce CO₂ in aerospace engines, as well as critical materials addressing CO₂ reduction in a variety of other end use markets.