Rusal to become lead investor in Braidy Atlas mill and secure the world's largest primary aluminum slab contract
HARBOR HAS CONFIRMED THAT: a) Braidy Industries, Inc. and En+ Group subsidiary, Rusal Global Management B.V., have executed a Letter of Intent (LOI) for a $200 million lead investment in Braidy Atlas (mill). The LOI will become binding subject to the final approval by the respective boards of both companies. b) Rusal will obtain a 40% share in the mill and become Braidy's 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. c) Lord Barker, En+ Group Executive Chairman, who served as the British Minister of State for Energy and Climate Change, will join CEO Craig Bouchard as co- chairman of the Board of Braidy Atlas.
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