East African Power Corporation and CVMR Corporation Sign an agreement for a 500 MW Solar and Battery Storage Framework to Power CVMR’s Global Mining and Refining Portfolio
Toronto, Canada / Nairobi, Kenya — 8 June 2026 — In a joint communiqué, East AfricanPower Corporation (“EAPC”) and CVMR® Corporation of Canada (“CVMR®”) announced today the signing of an agreement (“Agreement”) establishing a long-term framework for the development, financing, construction and operation of up to 500 megawatts (MW) of solar photovoltaic generation and co-located battery energy storage systems (“BESS”) to serve CVMR®’ s mining, refining and downstream processing operations across its expanding global portfolio.
The framework agreement is structured as an evergreen master arrangement under which EAPC will originate, develop and deliver project-specific Power Purchase Agreements (“PPAs”), captive generation assets, and hybrid solar-plus-storage microgrids at CVMR® operating sites, refining hubs and joint-venture concessions. Initial deployments are expected to be prioritized at CVMR®’s African operations — including its activities in the Central African Republic and the recently established CVMR® (R.D. Congo) S.A.R.L. joint venture with BITEC — followed by sites under evaluation in the Middle East, Southeast Asia and the Balkans.
CVMR®’s proprietary Vapour Metallurgy refining processes produce ultra-high-purity metal powders, nano-powders, pellets and near-net-shape components in a closed-loop system that is environmentally neutral. Pairing that refining platform with firm, dispatchable renewable energy is intended to extend the same environmental neutrality across the full value chain — from mine face to refined product — and to materially reduce the levelized cost of energy at remote and grid-constrained sites where CVMR® increasingly operates.
“Critical minerals processed with Eco friendly power source— that is the proposition,” said Kamran M. Khozan, Chairman and CEO of CVMR® Corporation.
“Our Vapour Metallurgy technology was designed from the outset to minimize environmental impact, but the supply chain that feeds such a refinery including its required energy have to be environmentally as neutral as the refining process itself. Partnering with East African Power Corporation allows us to extend our in-country, value-added model into the energy layer of our operations, particularly in African jurisdictions where reliable, affordable, low-carbon power is one of the greatest constraints on building domestic refining capacity.”
“Africa’s ability to produce renewable energy is the corner stone for allowing technologies such as CVMR®’s, to operate in that continent.” said Dan Klinck, CEO of East African Power Corporation.
“CVMR®’s business model of partnership with the host countries ’government— in-country refining, technology transfer, long-term industrial commitment — is exactly the kind of counterparty that allows us to mobilize development finance at scale, build local engineering capacity, and deliver electricity at tariffs that make domestic mineral processing globally competitive. A 500 MW pipeline tethered to producing mines and operating refineries is what moves the energy-minerals nexus from conference panels to construction sites. We are proud to be doing this work alongside Kamran and his team.”
Under the terms of this agreement, the parties will jointly:
• Identify and rank candidate sites across CVMR®’s existing and pipeline portfolio for solar-plus-storage deployment, beginning with a technical screening of the company’s African concessions;
• Establish a joint development vehicle (“JDV”) to act as the contracting counterparty for project-level PPAs, with EAPC as the lead developer and operator and CVMR® as the anchor offtaker;
• Pursuing blended financing structures combining development finance institution (“DFI”) capital, export credit agency cover, and private debt and equity, with a view to achieving financial close on the first tranche of projects within twenty-four months;
• Coordinate with host governments to align grid interconnection, wheeling, and tax frameworks with national industrialization and energy transition strategies;
• Develop local content, training and supply-chain participation programmes consistent with the host-country partnership philosophy that has characterized CVMR®’s engagements to date.
The agreement establishes EAPC as CVMR®’s preferred development partner for solar and power storage solutions globally. Specific project terms, capacities, and commercial structures will be set out in definitive agreements to be negotiated on a project-by-project basis. Industry context for such announcements is significant. The International Energy Agency and others have repeatedly identified power availability and cost as the principal bottleneck constraining the building of critical mineral refining capacity outside China. At the same time, mining and refining operations are among the largest single industrial loads in many African economies, making them natural anchor customers for utility-scale renewables. The EAPC– CVMR® framework is designed to address both constraints simultaneously.
The agreement was executed following meetings between the parties in Toronto, Riyadh and Nairobi from January to May 2026 and builds on CVMR®’s recently expanded African footprint, including its twenty-five-year strategic partnership with the Government of the Central African Republic and the CVMR® (R.D. Congo) S.A.R.L. joint venture announced in March 2026.
About East African Power Corporation:
East African Power Corporation is an independent power producer and renewable energy developer focused on the financing, construction and operation of utility-scale solar, wind and energy storage assets across East and Central Africa. EAP bridges the gap between power generation and end-users, evolving from an EPC firm into an impact-driven Independent Power Producer (IPP) delivering affordable and reliable energy at scale across African Markets. In the Democratic Republic of Congo EAP has been awarded a $2B energy framework agreement through 2030, anchored by bankable concession agreement for 266MW of solar, starting in 2026.
About CVMR® Corporation:
CVMR® Corporation is a Canadian-based mining and refining company that uses proprietary technologies for the concentration and refining of a wide range of metals. Its Vapour Metallurgy refining systems can produce ultra-pure metals in powder, nano-powder, pellet, super-alloy and near-net-shape forms for applications across aerospace, additive manufacturing, batteries, electronics and defence. CVMR®’s technology platform supports high-precision refining and manufacturing while operating in a closed-loop, environmentally neutral configuration. CVMR® operates globally through a network wholly owned subsidiaries and joint ventures established in partnership with host governments.
Media Contacts:
East African Power Corporation
dk@eastafricanpower.com
Tel: +250 784 912 333
CVMR® Corporation
cvmrinfo@cvmr.ca
Tel: +1 416 743 2746
Forward-looking statements: This press release contains forward-looking statements regarding the parties ’ intentions, expectations and plans. Such statements are based on current assumptions and are subject to risks and uncertainties, including project financing, regulatory approvals, and the negotiation and execution of definitive agreements. Actual outcomes may differ materially from those expressed or implied.