Jakarta – PT Hydrotech Metal Indonesia are getting closer to Canada Securities Exchange, after the signing of Share Exchange Agreement with a Canadian company recently. The signing was done virtually by Hydrotech Metal, together with PT Trinitan Green Energy Metals (TGEM) and PT Trinitan Resources Tama Indonesia (TRI) as their shareholders.
Based on the agreement, TGEM and TRI will transfer their shareholdings in Hydrotech Metal to the Canadian company, which then will issue common stock at an agreed price, to be paid prorated to TGEM and TRI based on the number of shares to be exchanged.
According to Widodo Sucipto, the President Director of PT Hydrotech Metal Indonesia, this process is one of the important steps that Hydrotech Metal must take after the signing of Letter of Intent with the Canadian company on August 23, 2021.
“Through these steps, we hope that our own STAL Technology can go international, and appear as the answer to the world’s need of class 1 Nickel, in the midst of the rising trend of electric vehicle usage.” conclude Widodo Sucipto.
As information, PT Hydrotech Metal Indonesia was founded in 2020 as a subsidiary of PT Trinitan Metals and Minerals Tbk (TMM), focused on the research and development of mineral processing technology in Indonesia. After the founding of PT Trinitan Green Energy Metals (TGEM) in 2021, PT Hydrotech Metal Indonesia’s position then underwent a structural change, and turned into a subsidiary of TGEM.
PT Trinitan Green Energy Metals (TGEM) is a subsidiary of PT Trinitan Metals and Minerals Tbk (TMM), that focused to accommodate all activities and development of smelters using STAL Technology, as well as to build an ecosystem to support the optimization of STAL technology, with the vision of helping accelerate the transition of renewable energy and electrification, so that Hydrotech Metal can focus on developing continuation technological innovations from STAL.
STAL (Step Temperature Acid Leach) Technology is a hydrometallurgical nickel processing technology owned by PT Hydrotech Metal Indonesia, which can process low grade nickel that has been deposited so far in Indonesia, with environmental friendly process and at low cost. (*)