Stans Energy Approved As Participant in Skolkovo Government Grant Program
September 9, 2014 (Source: BusinessWire) — Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) is pleased to announce that its recently incorporated subsidiary DIDIM Inc. (“DIDIM”), is an approved resident company of the Skolkovo Foundation. Through the Skolkovo Foundation, Stans is now able to apply for government grants of up to 100 million RUB (approx. US$2.85 million) for individual technical projects.
The Skolkovo Foundation’s goal is to turn cutting-edge research into commercially viable products of global relevance by creating a unique global hub for innovation and an ecosystem of entrepreneurs and talent. With a $3.9 billion budget, over 1,000 companies and start- ups, three Nobel Laureates and hosting world-renowned scientists, the Skolkovo Innovation Center is Russia’s largest supporter of innovation and a new global technology hub. Over 1,000 companies focused on innovation have joined these clusters after having been rigorously screened through a competitive process calling upon an international panel of business and science review experts. More than 200 companies have already benefitted from research grants ranging between $50,000 and $10 million, for a total of $300 million worth of grants made to date.
These research grants will be used by the Company to develop intellectual property for rare earth and metals processing technologies. These technologies will then be used by Stans for the development of rare earth based products and other commodities in the Russian Federation and worldwide. Stans has already funded a substantial amount of research and development to support the latest technology in processing rare earth ores to recover and refine rare earths and related products. These grants will be used to continue the Company’s efforts.
DIDIM is a registered participant of the Skolkovo Innovation Center in the Nuclear Technologies Cluster. The Russian Leading Research Institute of Chemical Technology (“VNIIHT”), an expert in the rare earth processing field, amongst other R&D organizations of the Russian Federation, will participate as consultants and contractors to DIDIM projects. Upon approval of initial grant applications, Stans Energy will be committing up to 50 million rubles (approx. US$1.4 million) to the new subsidiary over the next three years to participate in the program. The contribution of capital by Stans to DIDIM is a binding condition for the disbursement of any grants. DIDIM will also be soliciting clients outside of Stans Energy direct interests to develop metals processing technologies. VNIIHT and the other technical organizations will be subcontracted for select clientele in these instances.
“As Stans continues to evaluate new resource acquisitions and business opportunities, this ability to access non-dilutive, government sponsored funding will showcase the investment opportunity for potential partners in the Company. Being a research and development center for rare earth and metals processing technologies, DIDIM will help subsidize the Company’s technical development programs and de-risk any new projects the Company participates in. I would like to thank Mr. Vadim Veshchezerov, our new member of the Board of Directors, for his guidance through this lengthy and complicated approval process. This marks another milestone for Stans as we continue to grow and diversify our business. We still maintain a significant pipeline of catalysts that will provide momentum for continued corporate development well into 2015,” states Rodney Irwin, Interim President and CEO.
Stans is currently evaluating new rare earth and metals projects outside of Kyrgyzstan that could benefit from the processing and metallurgical technologies that would be developed by DIDIM. Should the Company resolve its issues with the Government of Kyrgyzstan, grant applications are ready for advancing the technological development of Kutessay II as well.
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About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
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FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company’s general business development, research development and the company’s development of mineral exploration projects. When used in this press release , the words “will”, “shall”, “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
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