Phenom Reports Commercialization Progress at MK Plus's New Swedish Base
Rhea-AI Summary
Phenom Resources (OTCQX: PHNMF) reported further commercialization progress at MK Plus, the private Japanese company developing Vanadium Solid-State Battery (VSB) technology in which Phenom holds a 5% equity interest. MK Plus has secured a Swedish manufacturing plant, workforce, initial orders and now more than 10 additional interested customers across Europe and the Middle East.
MK Plus Sweden AB was awarded nearly SEK 120 million (US$12 million) by the Swedish Energy Agency to co-finance industrialization and scale-up of its VSB technologies, alongside collaborations with RISE and Swedish equipment suppliers. Additional financings support advanced retooling of the Swedish plant, targeting first battery deliveries this fall to customers including the Austrian state of Burgenland, Agelus/Aramco in Saudi Arabia and other European buyers. Operating under the Vanadis Energy brand, MK Plus is building an international manufacturing and commercialization platform for stationary energy storage. Phenom also highlighted its vanadium and gold projects in Nevada, including 100% ownership of the Carlin Gold-Vanadium Project.
Positive
- 5% equity stake in MK Plus Vanadium Solid-State Battery developer
- MK Plus Sweden AB awarded nearly SEK 120 million (US$12 million) by Swedish Energy Agency
- More than 10 new interested customers in Europe and the Middle East for VSB systems
- Retooling of Swedish plant at an advanced stage for commercial battery production
- First VSB deliveries targeted this fall to European and Middle Eastern customers
Negative
- None.
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Vancouver, British Columbia--(Newsfile Corp. - August 13, 2026) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to provide shareholders with a further update on the commercialization progress of MK Plus Co., Ltd. ("MK Plus"), the private Japanese battery company developing next-generation Vanadium Solid-State Battery ("VSB") technology, in which Phenom holds a
As previously report on April 20, 2026, MK Plus had secured a modern battery manufacturing plant in Sweden, a Swedish work force, and orders for the commercialization of its battery. Since then, MK Plus has added +10 interested customers in Europe and the Middle East by targeting utilities, renewable energy developers, industrial customers and infrastructure partners seeking safer and more sustainable alternatives to conventional battery systems. MK Plus believes increasing demand for grid-scale energy storage, combined with growing concerns regarding battery safety, continues to strengthen the commercial opportunity for its Vanadium Solid-State Battery platform.
In addition, a significant milestone was recently achieved through the announcement that MK Plus Sweden AB has been awarded nearly SEK 120 million (US
Other financings have been secured recently that will allow for the retooling of the Swedish plant for the MK Plus battery commercial line. The plant retooling is at an advanced stage and once completed, this will pave the way to deliver the first round of batteries this fall to the Austria State government of Burgenland, Agelus/Aramco, Saudia Arabia, and other European customers.
Today, MK Plus is evolving beyond a battery technology developer into an international battery manufacturing and commercialization company. Operating under the Vanadis Energy brand, MK Plus is establishing its European industrial base in Sweden while expanding its commercial footprint across Europe, North America and the Middle East. Through strategic manufacturing, research and commercial partnerships, Vanadis Energy is positioning itself to address the rapidly growing global demand for safe, long-life stationary energy storage solutions.
Phenom will continue to provide shareholders with updates as MK Plus progresses through the next stages of commercial production, customer deployment and international expansion.
About Phenom Resources Corp.
Phenom has
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@phenomresources.com www.phenomresources.com
Technical disclosure in this news release has been reviewed and approved by Paul Cowley, a Qualified Person as defined by National Instrument 43-101, President, CEO and director of the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
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