CoTec Holdings Corp. announced it has entered a Memorandum of Understanding ("MoU") for a collaboration with the University of Birmingham to identify and commercialize disruptive technologies related to the critical mineral extraction industry. The collaboration will focus on potential opportunities to commercialize the University's low carbon, disruptive technologies in the mineral extraction industry.

The University of Birmingham will contribute its depth of research knowledge while CoTec will provide its extensive industry experience, network and access to potential operating assets. This agreement complements CoTec's existing relationship with the University of Birmingham through its rare earth investments in Mkango Resources Ltd. and Maginito Limited ("Maginito"). Maginito, which is currently owned by Mkango and CoTec on a 90%/10% basis, owns HyProMag Limited ("HyProMag").

HyProMag's rare earth magnet recycling technology was originally developed by the University of Birmingham and demonstrates how academic research and development can be commercially scaled up and rolled out into industry.