Hydrotech Metal are Getting Closer to Canada Securities Exchange

By : Nata Kesuma | Tuesday, October 19 2021 - 15:47 IWST

Widodo Sucipto, President Director of PT Hydrotech Metal Indonesia.
Widodo Sucipto, President Director of PT Hydrotech Metal Indonesia.

INDUSTRY.co.idJakarta – 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.

News Comment

Today's Industry

The President Director of PT Trimegah Sekuritas Indonesia Tbk (TRIM), Philmon Tanuri (left) delivered remarks at the kick off of Trimegah's collaboration with IA SBM-ITB in Jakarta on Wednesday (05/06/2024).

Jumat, 07 Juni 2024 - 19:43 WIB

Trimegah Sekuritas Supports Ikatan Alumni SBM-ITB to Realise Lifelong Learning Mission

In order to realise its mission of “Educate and create wealth for community through unique and professional investment experience”, PT Trimegah Sekuritas Indonesia Tbk (TRIM) collaborates…

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…