We are pleased to confirm the shareholders of Seren Technologies have entered a binding term sheet for the sale of 100% ownership of Seren Technologies to Ionic Rare Earths Limited (IXR.ASX, IonicRE).

Seren Technologies has been developing its rare earth separation and refining technology along with its business strategy since 2015. We are delighted that IonicRE will drive this cutting edge technology forward on a global scale. Their vision, technical capability and leadership will enable the Seren team to achieve further success and realise their vast commercialisation potential.

Our magnet recycling technology is rapidly approaching commercial deployment with numerous near term opportunities, and combining within the vision of IonicRE on vertical integration and completing the circular economy of magnet rare earths presents an outstanding opportunity which we think has immense blue sky.

We believe IonicRE ownership will benefit all stakeholders and Seren Technologies looks forward to discussing current and new opportunities with all its existing partners.