November 11, 2026

PRESS RELEASE

SMGM Makes Strategic Investment in Atlas Materials

Delaware – Negative Emissions Materials Inc. ("Atlas Materials" or the "Company") is pleased to announce that Société Minière Georges Montagnat (SMGM) has completed a strategic investment in the Company.

The investment demonstrates confidence in Atlas Materials' scalable, zero-waste process for producing high-purity magnesium metal, nickel/cobalt mixed hydroxide precipitate and other valuable by-products, from SMGM-supplied saprolite ore.

Together with existing funds and a planned US$9 million capital raise, the investment will support the FEL3/definitive feasibility study, permitting and development of Atlas Materials' first commercial-scale plant, advancing its ambition to become one of the world's lowest-cost magnesium producers.

The planned facility is expected to produce approximately 23,000 tonnes of primary magnesium metal annually, equivalent to around 30% of current US consumption.

David Dreisinger, CEO of Atlas Materials, commented:

"We are delighted to welcome SMGM as a strategic investor. Their investment validates our technology's potential to unlock significant value from New Caledonian saprolite ore, enabling low-cost, large-scale production of magnesium and other critical minerals with a substantially reduced environmental footprint."

Thomas Sevêtre, CEO of SMGM, commented:

"We are excited to support Atlas Materials and its innovative, zero-waste technology. The process has the potential to create valuable new markets for New Caledonian saprolite ore, benefiting New Caledonia while supporting a more sustainable critical minerals supply chain."

ENDS

Contact

David Dreisinger
david.dreisinger@atlasmaterials.com
About Atlas
https://atlasmaterials.com/technology/
About SMGM
https://www.linkedin.com/company/societe-miniere-georges-montagnat/