5E sues Matrix Service for breach of contract over boron facility; hires new contractors

5E Advanced Materials, Inc.

Filed complaint July 17, 2023 in U.S. District Court for Central District of California against Matrix Service Inc.
Matrix demobilized from small-scale boron facility project due to repeated cost overruns and schedule delays.
New specialty contractors hired to correct Matrix's outstanding issues and complete last-mile construction.
Company seeks damages for cost overruns, delays, and system defects rectified at 5E's expense.
Guidance reiterated: boric acid production on track with EPA injection authorization as final condition.

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