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Clean TeQ Water Awarded FEED and Early Works Contract of up to A$5.4 Million for the Syerston Scandium Project

Highlights FEED and Early Works Contract Awarded Sunrise Energy Metals has awarded Clean TeQ Water a Front End Engineering Design (FEED) and early works contract for the scandium recovery circuit at the Syerston Project . Contract Value up to A$5.4 Million The contracted FEED scope is valued at ~A$2.0 million, delivered on a schedule-of-rates basis, while long lead deliverables are carried at a provisional sum of ~A$3.4 million. MBIX and Scandium Refinery Scope The scope includes the continuous Resin-in-Pulp (cRIP) ion exchange circuit, underpinned by Clean TeQ’s MBIX platform, together with the scandium refinery. Advancing the Syerston Scandium Project Clean TeQ Water has been awarded a contract by Sunrise Energy Metals for a Front End Engineering Design (FEED) and early works phase of the scandium recovery circuit at the Syerston Scandium Project in New South Wales, Australia. The award follows the preliminary testwork and engineering package completed by Clean TeQ Water as announced on 27 January 2026 . Clean TeQ Water’s scope comprises two of the packages that make up the project: the continuous Resin-in-Pulp (cRIP) ion exchange circuit, underpinned by MBIX (Moving Bed Ion Exchange) technology, and the downstream scandium refinery. The contract advances the engineering design of both circuits, building on the work completed in the preliminary stage, supported by confirmatory and optimisation testwork in Clean TeQ Water’s laboratories. The full FEED scope is contracted, with an estimated value of approximately A$2.0 million excluding GST. The estimate is built from a deliverable-by-deliverable build-up of estimated hours by role, priced at an agreed schedule of rates that is firm for twelve months from award. The work is delivered on that schedule-of-rates basis, under which Sunrise pays for the hours worked, together with external expenses at cost plus a margin. Revenue from the FEED scope is expected to be recognised substantially in the 2027 financial year. In addition, Clean TeQ Water will supply the long lead deliverables required to protect the project’s delivery schedule. These deliverables are carried at a provisional sum of approximately A$3.4 million excluding GST and are expected to be released in tranches during the FEED engagement. Clean TeQ Water’s continued appointment reflects both companies’ long-standing technical collaboration and deep expertise in critical metals recovery. While Sunrise retains exclusive rights to MBIX for scandium, nickel and cobalt, Clean TeQ Water applies the MBIX technology more broadly in water treatment, industrial processing, and emerging applications across uranium, rare earths and other high-value critical minerals. “This award continues a collaboration that reaches back to the earliest development of the scandium flowsheet, and it is a strong endorsement of the work our team has delivered on the project to date,” says Clean TeQ Water CEO Peter Voigt. “Moving from preliminary work into FEED and early works is a natural next step for both companies and our team is ready to deliver the ion exchange and refinery packages at the scale the project demands. The Company’s track record in delivering advanced ion exchange systems and metallurgical process plants provides a strong foundation for project execution at scale.” The services are delivered on a schedule-of-rates basis, so the value stated above is the Company’s estimate of the cost of completing that scope rather than a fixed or capped amount, and the amount actually invoiced will depend on the hours worked and the expenses incurred and may be higher or lower than the estimate. The early works long lead deliverables are carried as a provisional sum, no part of which is committed at the date of this announcement; each tranche is released only on Sunrise’s written instruction, and the Company gives no assurance as to the amount, if any, that will ultimately be released. Keep up to date with the latest Clean TeQ Water announcements.