Neometals Ltd (ASX: NMT)
Announced the approval by the shareholders of Primobius GmbH, the JV company owned 50:50 by Neometals and SMS group GmbH ,to fund the fast-track commercialisation of commercial lithium-ion battery recycling operations.
Primobius’ intends to expand the current demonstration plant in Hilchenbach, Germany, and build up operational capacity to provide a 10tpd processing facility.
|Neometals||ASX : NMT|
|Stage||Production + development|
|Metals||Titanium + Vanadium + lithium + nickel|
|Market cap||A$474 m @ 86.5 c|
|Location||Western Australia, Germany.|
Neometals Primobius Fast Track Battery Recycling
Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to announce
the approval by the shareholders of Primobius GmbH (“Primobius”), the joint venture (“JV”) company owned 50:50 by Neometals and SMS group GmbH (“SMS group”),to fund the fast-track commercialisation of commercial lithium-ion battery (“LIB”) recycling
Primobius’ intends to expand the current demonstration plant (“DP”) in Hilchenbach Germany and build up operational capacity to provide a 10tpd battery disposal recycling service in Q1 2022 (“10tpd Shredder Plant”). Shredder Plant 1 will generate early revenue from the sale of intermediate active materials (“Black Mass”) and set a market reference for operational capability.
- In response to customer interest, Neometals and SMS agree to fund Primobius JV to fast-track commercial operations with recycling services offered in Q1 2022;
- Primobius will modify its existing German battery recycling demonstration plant to process up to approximately 10 tonnes per day to provide disposal services to European vehicle and cell-makers;
- Primobius plans to shred batteries, physically separate battery components and sell mixed cathode and anode ‘Black Mass’ from Hilchenbach site; and
- Preparations for the commencement of demonstration trials and evaluation activities for 50tpd (20,000tpa) German operation continue in parallel.
Neometals management comments
“We are excited to herald the entry of Primobius into the commercial European battery recycling landscape.
“The funding approval is an agile response by the JV shareholders to strong demand for the safe disposal of growing volumes of lithium-ion batteries arising from warranty returns and at end-of-life.
“The 10 tpd Shredding Plant represents the maximum commitment we can make to meet demand having regard to regulatory permitting timeline constraints.
“As well as being a showcase for potential customers and partners, the facility will provide a valuable training ground for the operations team and will support continuous process improvement ahead of the next scale up to a 50 tpd operation.
“The scale and speed of the electrification of transport and renewable energy storage is phenomenal, the volumes and momentum of global investment funds available to support enablers of decarbonisation steel our resolve for Primobius to become the pre-eminent recycler in the western world.”
Neometals’ Managing Director Chris Reed
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