May 16, 2019
HARBOR FIRST.
HARBOR has learned that the respective Boards of Directors of Braidy Industries and UC Rusal have approved Rusal’s $200 million lead investment in Braidy Atlas and a ten-year contract for around 2.0 million mton of its low-carbon primary aluminum ALLOW brand. As specified in a Letter of Intent (LOI) signed a month ago, Rusal will invest $200 million, obtain a 40% share in the Braidy Atlas mill, and become its exclusive supplier of primary aluminum, by providing around 2.0 million mton of its low-carbon primary aluminum ALLOW brand, over a period of ten years.
More details in full report.