The Ivanhoe Mines founder and chairman holds a 19.9% stake in the Melbourne-based company.

Friedland, a self-confessed scandium fan, made around $A5.1 million in on-market purchases of Clean TeQ shares in late August to bolster his stake.

He was already the company’s largest shareholder since making an initial investment in 2013.

In late 2014, Clean TeQ acquired its flagship Syerston scandium-nickel-cobalt project in New South Wales from Ivanhoe.

Last week Friedland said Clean TeQ was well-placed to become a leading supplier of nickel and cobalt sulphate for use in lithium ion batteries.

“These are key raw materials required to power the extraordinary revolution taking place in electric mobility,” he said.

“Through the development of Syerston, Clean TeQ will also become the world’s largest producer of scandium, which we expect will facilitate the increased adoption of aluminium-scandium alloys for lightweight applications in the global transportation sector.”

Former Ivanhoe director Sam Riggall is executive chairman of Clean TeQ and said he was delighted Friedland was joining the board.

“His depth of experience in financing and developing minerals and technologies companies into globally significant business will be of great benefit to Clean TeQ,” Riggall said.

“We expect he will play an important role in communicating to global investment markets the value of the Syerston project as a potential leading supplier of cathode raw materials to the lithium-ion battery sector, as well as bringing valuable insight and support to future financing options for the project.”

Last week, Clean TeQ released a feasibility study for Syerston, outlining a $100 million capital cost for an operation to produce 50 tonnes of scandium per annum – more than three times the current global annual output.

The company is also completing a prefeasibility study into a large scale nickel-cobalt development, where scandium would be a by-product.

Shares in Clean TeQ were up half a cent to 59c.