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Largo (TSX: LGO) (NASDAQ: LGO) has promoted Francesco D’Alessio to Chief Commercial Officer, effective immediately. This appointment is part of a broader strategy to reposition Largo’s sales and trading operations to capitalize on emerging opportunities in the vanadium market. With over 17 years of experience in metals sales and trading, D’Alessio is expected to lead Largo’s realigned sales strategy, positioning the company for growth amid evolving market conditions and anticipated long-term increases in vanadium demand.
The International Energy Agency (IEA) projects vanadium demand to rise over 500% by 2050 under a net zero scenario, driven by clean energy storage and high-strength steel alloys. D’Alessio, who joined Largo in 2019, will oversee the strategic review process of Largo Clean Energy Corp. (LCE) to maximize its value. As part of this transition, Paul Vollant has left his position at Largo.
Largo (TSX: LGO) (NASDAQ: LGO) ha promosso Francesco D’Alessio a Chief Commercial Officer, con effetto immediato. Questa nomina fa parte di una strategia più ampia per riposizionare le operazioni di vendita e trading di Largo per capitalizzare le opportunità emergenti nel mercato del vanadio. Con oltre 17 anni di esperienza nelle vendite e nel trading di metalli, D’Alessio è atteso alla guida della nuova strategia di vendita di Largo, posizionando l’azienda per la crescita in un contesto di mercato in evoluzione e con aumenti di lungo termine previsti nella domanda di vanadio.
La International Energy Agency (IEA) prevede che la domanda di vanadio aumenterà di oltre il 500% entro il 2050 in uno scenario di zero netto, alimentata dall’immagazzinamento di energia pulita e dalle leghe di acciaio ad alta resistenza. D’Alessio, che è entrato in Largo nel 2019, supervisionerà il processo di revisione strategica di Largo Clean Energy Corp. (LCE) per massimizzarne il valore. Nell’ambito di questa transizione, Paul Vollant ha lasciato la sua posizione in Largo.
Largo (TSX: LGO) (NASDAQ: LGO) ha promovido a Francesco D’Alessio como Chief Commercial Officer, con efecto inmediato. Este nombramiento es parte de una estrategia más amplia para reposicionar las operaciones de ventas y comercio de Largo y capitalizar las oportunidades emergentes en el mercado del vanadio. Con más de 17 años de experiencia en ventas y comercio de metales, se espera que D’Alessio lidere la estrategia de ventas reestructurada de Largo, posicionando a la empresa para el crecimiento en medio de condiciones de mercado cambiantes y el aumento anticipado a largo plazo de la demanda de vanadio.
La Agencia Internacional de Energía (IEA) proyecta que la demanda de vanadio aumentará más del 500% para 2050 bajo un escenario de cero emisiones netas, impulsada por el almacenamiento de energía limpia y aleaciones de acero de alta resistencia. D’Alessio, quien se unió a Largo en 2019, supervisará el proceso de revisión estratégica de Largo Clean Energy Corp. (LCE) para maximizar su valor. Como parte de esta transición, Paul Vollant ha dejado su posición en Largo.
Largo (TSX: LGO) (NASDAQ: LGO)는 Francesco D’Alessio를 최고 상업 책임자로 즉시 임명했습니다. 이 임명은 Largo의 판매 및 거래 운영을 재편성하여 바나듐 시장의 새로운 기회를 활용하기 위한 보다 포괄적인 전략의 일환입니다. 금속 판매 및 거래 분야에서 17년 이상의 경력을 지닌 D’Alessio는 변화하는 시장 환경 속에서 성장할 수 있도록 회사의 판매 전략을 이끌 것으로 기대됩니다.
국제 에너지 기구 (IEA)는 2050년까지 제로넷 시나리오에서 바나듐 수요가 500% 이상 증가할 것으로 예상하고 있으며, 이는 청정 에너지 저장 및 고강도 강철 합금에 의해 촉발됩니다. 2019년 Largo에 합류한 D’Alessio는 Largo Clean Energy Corp. (LCE)의 전략적 검토 과정을 감독하여 가치를 극대화할 것입니다. 이 전환의 일환으로 Paul Vollant는 Largo에서 자신의 직위를 떠났습니다.
Largo (TSX: LGO) (NASDAQ: LGO) a promu Francesco D’Alessio au poste de Chief Commercial Officer, avec effet immédiat. Cette nomination s’inscrit dans une stratégie plus large visant à repositionner les opérations de vente et de négoce de Largo pour tirer parti des nouvelles opportunités sur le marché du vanadium. Fort de plus de 17 ans d’expérience dans la vente et le négoce de métaux, D’Alessio est attendu à la tête de la stratégie commerciale révisée de Largo, préparant l’entreprise à croître dans un contexte de marché en évolution et avec des augmentations à long terme prévues de la demande en vanadium.
Selon l’Agence Internationale de l’Énergie (AIE), la demande de vanadium devrait augmenter de plus de 500 % d’ici 2050 dans un scénario d’émissions nettes nulles, alimentée par le stockage d’énergie propre et les alliages d’acier de haute résistance. D’Alessio, qui a rejoint Largo en 2019, supervisera le processus de révision stratégique de Largo Clean Energy Corp. (LCE) pour en maximiser la valeur. Dans le cadre de cette transition, Paul Vollant a quitté son poste chez Largo.
Largo (TSX: LGO) (NASDAQ: LGO) hat Francesco D’Alessio zum Chief Commercial Officer befördert, mit sofortiger Wirkung. Diese Ernennung ist Teil einer umfassenderen Strategie zur Neuausrichtung der Verkaufs- und Handelsoperationen von Largo, um auf die sich bietenden Chancen im Vanadiummarkt zu reagieren. Mit über 17 Jahren Erfahrung im Verkauf und Handel von Metallen wird von D’Alessio erwartet, dass er die neue Vertriebsstrategie von Largo anführt und das Unternehmen auf Wachstum in einem sich wandelnden Marktumfeld und bei den erwarteten langfristigen Nachfragesteigerungen nach Vanadium vorbereitet.
Die Internationale Energieagentur (IEA) prognostiziert, dass die Vanadiumnachfrage bis 2050 unter einem Netto-Null-Szenario um über 500% steigen wird, angetrieben durch die Speicherung sauberer Energie und hochfeste Stahllegierungen. D’Alessio, der 2019 zu Largo gestoßen ist, wird den strategischen Überprüfungsprozess der Largo Clean Energy Corp. (LCE) leiten, um deren Wert zu maximieren. Im Rahmen dieses Übergangs hat Paul Vollant seine Position bei Largo verlassen.
Positive
- Appointment of experienced Chief Commercial Officer with 17 years in metals sales and trading
- Realignment of sales strategy to capitalize on emerging vanadium market opportunities
- Projected 500% increase in vanadium demand by 2050 according to IEA
- Strategic positioning for future growth in clean energy storage and high-strength steel alloys markets
Negative
- Departure of previous sales leader Paul Vollant
- Current mining investments falling short of meeting future vanadium needs
- Long development time (10-15 years) for new vanadium mines
TORONTO–(BUSINESS WIRE)– Largo Inc. (“Largo” or the “Company”) (TSX: LGO) (NASDAQ: LGO) is pleased to announce the promotion of Francesco D’Alessio to the role of Chief Commercial Officer, effective immediately. With Largo since 2019, the appointment of Mr. D’Alessio is part of a broader focus on the repositioning of Largo’s sales and trading operations to capitalize on emerging opportunities in the vanadium market.
Largo Appoints Francesco D’Alessio as Chief Commercial Officer to Lead Realigned Sales Strategy (Photo: Business Wire)
The Company believes Mr. D’Alessio’s proven expertise and strategic vision make him ideally suited to lead Largo’s realigned sales strategy, positioning the Company for growth in response to evolving market conditions and the anticipated long-term increases in vanadium demand. As demand for vanadium is forecast to grow significantly—projected by the International Energy Agency (IEA) to rise over 500% by 2050 under a net zero scenarioi, while current mining investments fall short of meeting future needs and the development of new vanadium mines can take 10-15 years—the Company’s sales division is well-positioned to navigate current market conditions while preparing for future growth. As demand for vanadium is forecast to significantly grow, particularly driven by the need for clean energy storage and high-strength steel alloys, the Company’s sales division is well-positioned to navigate current market conditions while preparing for future growth.
Daniel Tellechea, Director and Interim CEO of Largo, commented: “Francesco has consistently demonstrated a strong commitment to enhancing our sales operations and is the right leader to guide our commercial strategy forward. His extensive background in vanadium sales and trading, combined with his strategic vision, will be critical as we aim to strengthen Largo’s position in the vanadium market with a focus on our approach to global sales and trading to drive long-term value going forward.”
Mr. D’Alessio has over 17 years of experience in metals sales and trading, including overseeing sales and shipment of vanadium, among other commodities, as well as additional experience in clean energy storage sales. Mr. D’Alessio currently serves as President of Largo Clean Energy Corp. (“LCE”), a subsidiary of Largo, overseeing the strategic review process to fully maximize the value of LCE, including its access to the innovative Largo Physical Vanadium Corp. structure. Mr. D’Alessio began his tenure at Largo in 2019 as Head of Sales, Americas, and was subsequently promoted to the position of Commercial Director, being actively involved in the overall sales strategy at Company. His experience also includes co-founding and previously holding the title of Marketing and Sales Director at SiderAlloys Intl. SA, where he facilitated the company’s global sales and raw material sourcing channels and go-to-market strategies. Prior to co-piloting the start-up of SiderAlloys in 2011, Mr. D’Alessio was Global Sales Manager of vanadium products for EVRAZ East Metals, where he managed all sales and marketing for the vanadium division. Mr. D’Alessio holds a Global Executive Master of Business Administration (GEMBA) from Bocconi University in Milan, Italy, and a Bachelor of Arts (B.A.) in Government and International Affairs from George Mason University in Fairfax, VA, USA.
As part of this transition, the Company announces that Paul Vollant has left his position at Largo. The Company appreciates Mr. Vollant’s leadership in establishing Largo’s independent sales division and acknowledges his valuable contributions during his time with the Company. Largo extends its sincere thanks and best wishes to him in his future endeavours.
About Largo
Largo is a globally recognized vanadium company known for its high-quality VPURETM and VPURE+TM products, sourced from its Maracás Menchen Mine in Brazil. The Company is currently focused on ramping up production of its ilmenite concentrate plant and is undertaking a strategic evaluation of its U.S.-based clean energy business, including its advanced VCHARGE vanadium battery technology to maximize the value of the organization. Largo’s strategic business plan centers on maintaining its position as a leading vanadium supplier with a growth strategy to support a low-carbon future.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol “LGO”. For more information on the Company, please visit www.largoinc.com.
Cautionary Statement Regarding Forward-looking Information:
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. The projected growth in demand for vanadium may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. There can be no assurance that such statements will prove to be accurate and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo’s annual and interim MD&A which also apply.
Trademarks are owned by Largo Inc.
i IEA (2024) – Critical Minerals Data Explorer
View source version on businesswire.com: https://www.businesswire.com/news/home/20240918598612/en/
For further information, please contact:
Investor Relations
Alex Guthrie
Director, Investor Relations
+1.416.861.9778
Source: Largo Inc.
FAQ
Who is the new Chief Commercial Officer of Largo (LGO)?
Francesco D’Alessio has been promoted to the role of Chief Commercial Officer at Largo (LGO), effective immediately.
What is the projected growth in vanadium demand according to the IEA?
The International Energy Agency (IEA) projects vanadium demand to rise over 500% by 2050 under a net zero scenario.
Why has Largo (LGO) realigned its sales strategy?
Largo (LGO) has realigned its sales strategy to capitalize on emerging opportunities in the vanadium market and position itself for growth in response to evolving market conditions and anticipated long-term increases in vanadium demand.
What are the main drivers for the expected increase in vanadium demand?
The main drivers for the expected increase in vanadium demand are the growing need for clean energy storage and high-strength steel alloys.
