AE Fuels Joins A$53M National Critical Minerals Initiative to Advance Battery-Grade Manganese Strategy
CMCI CRC participation and new research coverage aim to support AE Fuels’ shift from manganese ore to higher-value battery-grade products.
Rhea-AI Summary
AE Fuels (NRGFF) has joined the Australian Government‑funded A$53 million Critical Metals for Critical Industries Cooperative Research Centre (CMCI CRC) as an industry partner to advance its South Woodie Woodie manganese project toward battery‑grade products.
The partnership provides access to specialist research capability, infrastructure and industry relationships to support downstream refining of South Woodie Woodie concentrate into higher‑value HPMSM, EMD and EMM. AE Fuels has already produced battery‑grade HPMSM in continuous mini‑pilot testing and holds a 100% interest in South Woodie Woodie, which hosts an NI 43‑101 inferred resource of 11.3 million tonnes grading 15.0% manganese at a 10.1% cut‑off. The company also engaged Atrium Research to provide company‑sponsored equity research for an initial 18‑month term at $12,000 per quarter, subject to TSX Venture Exchange approval.
Positive
- Joins CMCI CRC, a A$53 million Australian Government-funded critical-metals initiative
- Holds 11.3 Mt inferred resource at 15.0% Mn at South Woodie Woodie
- Has already produced battery-grade HPMSM via continuous mini-pilot testing
- Engages Atrium Research for 18 months of equity research coverage
- Atrium fee set at $12,000 per quarter, paid in cash only (no securities)
Negative
- Proposed CMCI CRC project is still subject to scope, funding, IP terms and CRC approvals
- Company commits to $12,000 per quarter research fees for at least 18 months
AI-generated analysis. How Rhea-AI works. Not financial advice.
CMCI CRC partnership provides a national platform to advance South Woodie Woodie from manganese resource through downstream processing and battery-grade products
Joins A
$53 million Australian Government-funded CMCI CRC as an industry partner, providing access to specialist research capability, infrastructure and industry relationships focused on critical-metals refining and commercialization.Advances South Woodie Woodie toward higher-value manganese products, including battery-grade HPMSM, EMD and EMM.
Builds on demonstrated downstream progress, including successful production of battery-grade HPMSM through continuous mini-pilot testing.
Complements AEF's recent qualification to join the U.S. Defense Industrial Base Consortium as AEF builds the technical, government, industry and funding pathways required to advance its critical-mineral assets.
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2026) - AE Fuels Corporation (TSXV: AEF) (OTCQB: NRGFF) ("AEF" or the "Company") is pleased to announce that it has joined the Critical Metals for Critical Industries Cooperative Research Centre ("CMCI CRC") as an industry partner, providing AEF with access to a nationally funded platform focused on advancing critical-metals refining and commercialization in Australia.
The partnership supports AEF's strategy to develop its
CMCI CRC has received A
Gary Lewis, Chief Executive Officer and Director of AEF, commented: "Our objective at South Woodie Woodie is not simply to develop another manganese mine. We are working to build a pathway from an Australian manganese resource through to the higher-value products required by advanced battery and manufacturing supply chains.
"We have already demonstrated that South Woodie Woodie material can be beneficiated and converted into battery-grade HPMSM. Joining CMCI CRC gives us access to a national platform of technical capability, infrastructure and industry relationships to build on that work and address the next stages of development.
"For AEF, this is also about building the partnerships around the asset. Developing a new critical-minerals supply chain requires more than a resource — it requires technology, engineering, customers, government alignment and capital. Our recent qualification to join the US Defense Industrial Base Consortium and now our participation in CMCI CRC are part of the same strategy: building the technical, government, industry and funding pathways required to move AEF's critical-mineral assets toward development and commercialization."
Building the Pathway from Resource to Battery Material
AEF's strategy for South Woodie Woodie extends beyond development of the existing manganese resource. The Company is seeking to establish a technically and commercially viable pathway from mined material through beneficiation and refining to battery-grade manganese products.
AEF has already established an NI 43-101 inferred manganese resource, demonstrated a beneficiation pathway and successfully produced battery-grade HPMSM through continuous mini-pilot testing. Participation in CMCI CRC provides a platform to build on this work through collaborative research, engineering and commercialization programs.
AEF intends to work with CMCI CRC to develop a collaborative project evaluating the conversion of South Woodie Woodie manganese concentrate into higher-value manganese products, including HPMSM, EMD and EMM. The proposed program is expected to focus on the technical and commercial information required to support further engineering, scale-up and development decisions.
For AEF, the collaboration has the potential to:
- Advance the technical pathway toward commercial-scale high-purity manganese production.
- Generate engineering and economic data required for investment and development decisions.
- Leverage specialist research capability and infrastructure to reduce development risk.
- Strengthen access to government support, strategic partners, customers and project finance.
Supporting an Allied Manganese Supply Chain
Australia is a major producer of manganese ore but captures comparatively limited value from downstream conversion into high-purity manganese products. AEF's strategy is to investigate whether South Woodie Woodie can form the upstream foundation of a higher-value manganese supply chain incorporating beneficiation, refining and production of battery-grade materials.
Participation in CMCI CRC aligns South Woodie Woodie with a broader Australian Government-supported initiative to develop sovereign critical-metals refining capability and more resilient supply chains. It also provides a framework for collaboration with potential Australian and international partners as AEF evaluates future processing, product qualification, customer and funding pathways.
AEF's proposed project remains subject to agreement on its scope, partners, funding, intellectual property arrangements and required CRC approvals.
AEF Engages Atrium Research Corporation
AEF (the "Company") is pleased to announce that it has engaged Atrium Research Corporation ("Atrium"), pursuant to an agreement dated September 18, 2026, to initiate company-sponsored research coverage of the Company. The fees payable to Atrium will be funded from the Company's working capital.
Atrium will publish research reports based on publicly available information and host management interviews designed to provide investors with additional insight into AEF's business, strategy and growth opportunities. Atrium's research reports will be distributed through various research and market data platforms, digital channels and subscriber networks. The Company will pay Atrium cash compensation of
Atrium is a Toronto-based independent equity research firm providing institutional-quality, company-sponsored research on North American public companies, with an investment philosophy focused on taking a 3-5-year view of companies it believes are currently overlooked by the market. Atrium and the Company are arm's-length parties, and neither Atrium nor its insiders currently hold any securities of the Company or any right to acquire such securities.
On behalf of the board of directors of the Company:
Gary Lewis,
CEO and Director
About the South Woodie Woodie Manganese Project
AEF holds a
About AE Fuels Corporation
AE Fuels Corporation (TSXV: AEF) (OTCQB: NRGFF) is a US-aligned, critical minerals company focused on battery-grade manganese and fluorspar-hydrofluoric acid (HF) supply chains. The Company's strategy connects allied-country manganese supply (Pilbara, Western Australia) and domestic US fluorspar supply (New Mexico, USA) with US midstream processing and downstream supply chains. Manganese and fluorspar are designated critical minerals in the US, Australia and EU, and essential to multiple high-growth industries including battery materials, semiconductor fabrication and advanced electronics, nuclear fuel processing and clean energy technologies. AEF is advancing development activities aimed at delivering reliable, allied-sourced supply of these materials to reduce foreign dependency and strengthen US industrial base resilience across these key industries.
For further information please contact:
Gary Lewis, CEO and Director
T +61 422 880 055 E gl@aefuels.com W www.aefuels.com
Susan Assadi, Public Affairs
T +1 347 977 7125 E sa@aefuels.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
1 NI 43-101 Technical Report, effective August 15, 2025, and filed on SEDAR+ on December 12, 2025.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315386
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What development work has AE Fuels already completed at South Woodie Woodie?
AE Fuels has established an NI 43‑101 inferred manganese resource, demonstrated a beneficiation pathway and successfully produced battery‑grade HPMSM through continuous mini‑pilot testing. The company is now focusing on work that can support engineering, scale‑up and development decisions for commercial high‑purity manganese production.
What is the planned focus of AE Fuels’ collaboration with CMCI CRC?
The company intends to develop a collaborative project with CMCI CRC to evaluate converting South Woodie Woodie manganese concentrate into higher‑value products, including HPMSM, EMD and EMM. The program is expected to generate technical, engineering and economic information needed for further scale‑up and investment decisions.
What potential benefits does AE Fuels expect from participating in CMCI CRC?
AE Fuels expects the collaboration to advance the technical pathway to commercial‑scale high‑purity manganese, generate data for investment and development decisions, leverage specialist research infrastructure to reduce development risk, and strengthen access to government support, strategic partners, customers and project finance.
What are the key terms of AE Fuels’ agreement with Atrium Research?
Atrium will provide company‑sponsored research coverage based on publicly available information and host management interviews. AE Fuels will pay Atrium $12,000 per quarter, funded from working capital, for an initial 18‑month term
What is the scale and location of the South Woodie Woodie Manganese Project?
South Woodie Woodie is located in the Pilbara District of Western Australia and covers 533.4 square kilometres. It contains an NI 43‑101 inferred mineral resource of 11.3 million tonnes grading 15.0% manganese at a 10.1% manganese cut‑off, and AE Fuels holds a 100% interest in the project.