Latin Resources’ Noombenberry Halloysite-Kaolin Project will soon find itself part of an innovative methane reduction research program after the company announced a deal with CRC Care to research ways to reduce the methane emission of cattle using halloysite from Latin’s Cloud 9 deposit. The three year, $3.2 million project will be spearheaded by an environmental remediation veteran and is set to launch in the new year.
The project will be aimed at reworking Latin’s halloysite and kaolin minerals to produce material-based emission reduction technologies. Inclusive in this will be the development of feed supplements for cattle and halloysite shale for inhibiting and absorbing methane, among other ventures.
Under the company’s agreement with CRC Care, it will fund two key research projects that are “complimentary” to its halloysite exploration at Noombenberry and importantly, Latin will maintain 100 per cent of the intellectual rights derived from the research.
The company’s decision to embark on its latest green voyage follows a recent announcement by US President Joe Biden and European Commission President Ursula von der Leyen, who at the UN COP 26 climate summit said over 100 countries had pledged to reduce methane emissions by at least 30 per cent by 2030. The move is thought to form a critical piece in solving the climate change puzzle.
The capture and utilisation of greenhouse gases, including methane and carbon dioxide, is an increasingly important issue for governments and communities globally in terms of mitigating the impacts of climate change.
The decision announced by Ursula von der Leyen at the COP 26 climate summit in Glasgow confirming over 100 countries will participate in the methane reduction program, displays the potential reach with the environmental products, if the R&D project proves to be successful.
The potential for our Cloud Nine halloysite to be part of the suite of global solutions is significant. We are exceptionally excited by the commercial potential of the CRC R&D opportunity.
Latin looks to have stacked the deck for its latest venture electing the University of Newcastle’s Global Innovation Chair and Director, Professor Ravi Naidu, who is also the Managing Director and CEO of CRC Care, to lead the project. The company will be backing Naidu’s two decades in contaminants research to fuel its emission reduction endeavour.
According to the company, its latest venture shines a spotlight on its commitment to responsible environmental, social and governance standards and Latin intends on funding the project with existing cash, investments, R&D funding and stock options.
With global marketplaces now facing unprecedented pressure to reduce their emissions, Latin’s R&D development deal could be on the money and actually help put a cork in one of the largest sources of methane emissions in the world. With a few million dollars on the table and an industry leader running the play, the move could have the company nicely positioned to help clean the air for a greener future.
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