VANCOUVER, B.C. – TheNewswire - May 22, 2025 - STARMET VENTURES INC. (CSE: STAR) (the “Company” or “Starmet”), is pleased to announce that it has entered into an agreement with Solterra Renewable Energy Ltd. (“Solterra”), a company that specializes in the origination and development of renewable energy projects across Europe.

 

Through its wholly owned subsidiary (the “Subsidiary”), Solterra is currently developing a Battery Energy Storage System ("BESS" or the “Project”) in Germany. Under existing arrangements,  third parties are entitled to receive 50% of the Project’s profits rights.

 

Pursuant to the agreement, Starmet will pay Solterra $420,000 in exchange for 30% of Solterra’s share of the Project’s profit rights. This strategic collaboration reflects both companies’ shared vision of advancing renewable energy deployment and addressing the growing demand for grid-enhancing energy storage solutions.

 

According to SolarPower Europe’s European Market Outlook for Battery Storage 2025–2029, the European battery storage market is set to experience rapid expansion. The report notes: “Beyond 2025, under current market and regulatory conditions, our medium scenario anticipates a sharp growth trajectory, with annual deployments increasing by 41.9 GWh (+41%) in 2026 and 68 GWh (+62%) in 2027.” Furthermore, the total battery storage capacity in Europe is projected to reach 400 GWh by 2029, although even faster growth is needed to meet grid flexibility requirements.

 

About Starmet Ventures Inc.:

Starmet Ventures Inc’s principal business activities include the exploration of mineral resource properties with an emphasis on the Properties located in Esmeralda County, Nevada and Ear Falls, Ontario.  Starmet’s objective is to identify and develop economic mineral resource properties of merit and to conduct exploration programs thereon.

ON BEHALF OF STARMET VENTURES INC.

“Gabi Kabazo”
Chief Financial Officer
T: 1 (604) 833-6820
E: gkabazo@gmail.com

    

Forward-Looking Information:

This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or” should” occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to Solterra’s battery project in Germany and the European Market Outlook for Battery Storage are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Starmet, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the risk that Starmet may be unable to complete the Private Placement on the terms presented or at all, and the risk that Starmet may be unable to obtain the required approvals in connection therewith. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Starmet does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.