MWCC Signs MOU with PMET and Mitsui & Co. for Joint Study on Commercializing Microwave-based Low-carbon Lithium Ore Refining Technology　- Accelerating the Development of a Lithium Supply Chain Contributing to Economic Security and Decarbonization –

Microwave Chemical Co., Ltd.

Microwave Chemical Co., Ltd. (hereinafter “MWCC”) has entered into a non-binding Memorandum of Understanding (MOU) with PMET Resources Inc. (hereinafter “PMET”), a Canadian lithium resource development company, and Mitsui & Co., Ltd. (hereinafter “Mitsui”), regarding the application of MWCC’s proprietary “microwave calcination^*1 technology” (hereinafter “the Technology”) to spodumene ore—the raw material for lithium—mined from PMET’s mines, as well as joint studies toward future commercialization.

This matter was announced by PMET on June 17, 2026 (local time).^*2

■Over view
The primary objective of this collaboration is to conduct pilot plant testing of the Technology on lithium resources held by PMET, including the “Shaakichiuwaanaan Project^*4,” at MWCC’s Osaka plant, and to evaluate its technical and commercial feasibility.

The main roles of each party are as follows:
・PMET：Provision of spodumene ore samples from this project and other sources, and collaborating on applying the Technology to intermediate refining processes toward the production of “high-value-added lithium intermediate products” on-site.
・Mitsui：Evaluation of pilot testing utilizing global project development and commercialization capabilities, and support for discussions toward future commercialization.
・MWCC：Leadership and technical management of pilot plant testing using proprietary technology, and leading the conceptual design and equipment specification development for the calcination process at future commercial plants.

■Outlook
Spodumene ore has already been received from PMET, and pilot plant testing using this material is now underway. Following the completion of the testing, the three parties plan to evaluate the results and consider proceeding to specific discussions toward commercialization of the Technology.

By utilizing the affordable clean hydro power available in Quebec—where the mine is located—to produce “high-value-added lithium intermediate products” on-site, the parties aim to apply the Technology to significantly reduce transportation and logistics costs and build a more efficient, low-carbon lithium supply chain that is not dependent on specific regions. As this initiative aligns with the critical minerals strategies and clean energy goals of various countries, the three parties are also considering joint efforts to secure subsidies and grants from government agencies.

MWCC will continue to work closely with Mitsui and PMET to contribute to solving challenges related to critical minerals and achieving decarbonization. This initiative represents an important milestone in expanding MWCC’s metal smelting and mining process business, which is a key focus area, and MWCC will accelerate the real-world implementation of this business going forward.

■Reference
About PMET Resources Inc. (PMET)

PMET is a pegmatite critical mineral exploration and development company that holds 100% ownership of the “Shaakichiuwaanaan Project” located in the Eeyou Istchee James Bay region of Quebec, Canada. This project is among the top 10 largest lithium pegmatite resources in the world and holds significant potential as a critical mineral supply hub in North America.

*1 A heat treatment process in which ore is heated at high temperatures to alter its crystal structure, enabling efficient extraction of lithium components from spodumene ore.
*2 “PMET Advances On-Site Lithium Refining Strategy Through Technology Collaboration MOU with Mitsui and MWCC”
https://www.pmet.ca/news/pmet-advances-on-site-lithium-refining-strategy-through-technology-collaboration-mou-with-mitsui-and-mwcc/
*3 Press Release dated September 29, 2025:
“Launch of Demonstration Experiment for the Joint Development of Microwave-based Low-carbon Lithium Ore Refining Technology”
https://mwcc.jp/post_en/press_release/4136/
*4 A lithium spodumene mine development project 100% owned by PMET, located in Quebec, Canada, ranked among the world’s largest. It has year-round road access and is located near regional hydropower infrastructure.