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Blackstone Resources AG in Second Phase of Battery Production Subsidy Application

May 8, 2019

BAAR, Switzerland--(BUSINESS WIRE)--May 8, 2019--Blackstone Resources AG (SWX: BLS; STU: 4BR, FRA: 4BR, BEB: 4BR) (“Blackstone”) is pleased to announce that it has submitted a detailed application with a business plan and work programme with the German Federal Ministry for Economic Affairs and Energy (BMWi) for access to its battery production subsidy programme.

The move follows positive correspondence from the German ministry BMWi, inviting Blackstone along with a number of prominent battery makers, to submit an application for financing.

The application submitted by Blackstone was made through its 100% owned subsidiary Blackstone Research, which is based in Erfurt, Germany. It was made in close co-operation with its future partners from Belgium, The United Kingdom, Austria, Poland and two from Germany.

The BMWi is now reviewing Blackstone’s application and based on its merits, will inform us on the outcome in due course. We are confident that the application Blackstone has made is strong and will result in future subsidies being made available.

In addition, Blackstone is preparing additional applications with individual states within Germany: Thuringia, Saxony and Brandenburg. The aim here is to roll out our battery manufacturing facilities.

This represents a significant step forward for Blackstone’s ambitions in the battery technology market and places the company a step closer towards its goal of becoming a vertically integrated supplier to the electric vehicle and energy storage market.

Blackstone Resources AG

Blackstone Resources is a Swiss Holding Company, with its legal domicile in Baar, Kanton Zug and is concentrating on the battery metals market as primary metals. In addition, it sets up, develops and manages refineries used for gold and battery metals. It offers direct exposure to the battery metal revolution that is being driven by the demand of electric vehicles that need vast quantities of these metals. These include cobalt, manganese, molybdenum, graphite and lithium. In addition, Blackstone Resources has started a research programme on new battery technologies.

For more information please visit www.blackstoneresources.ch

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Please ensure you consult the disclaimer for a full understanding of the content within:  http://www.blackstoneresources.ch/about-us/disclaimer-press-release/

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CONTACT: Blackstone Resources AG

T: +41 41 449 61 63

F: +41 41 449 61 69

info@blackstoneresources.ch

Investor Relations

ir@blackstoneresources.ch

Media Enquires

Manuela Pereira

media@blackstoneresources.ch

KEYWORD: AUSTRIA EUROPE GERMANY SWITZERLAND

INDUSTRY KEYWORD: ENERGY UTILITIES MANUFACTURING OTHER MANUFACTURING NATURAL RESOURCES MINING/MINERALS PROFESSIONAL SERVICES FINANCE

SOURCE: Blackstone Resources AG

Copyright Business Wire 2019.

PUB: 05/08/2019 11:45 AM/DISC: 05/08/2019 11:45 AM

http://www.businesswire.com/news/home/20190508005530/en