- Neometals (NMT) sees its first commercial battery recycling plant commissioned in Hilchenbach Germany
- The plant has been expanded by Primobius, a joint venture company owned equally by Neometals and SMS Group
- The plant now consists an expanded shredding and beneficiation circuit which will begin a 10tpd battery disposal recycling service in Q1 2022
- Neometals says a Federal environmental permit is imminent and battery feed supply arrangements are advancing
- Shares last traded December 17 at $1.03
Neometals (NMT) has commissioned its first commercial battery recycling plant in Hilchenbach Germany.
The plant has been expanded by Primobius, a joint venture company owned equally by Neometals and SMS Group.
According to Neometals, Primobius’ strategy is to secure market share by focussing on potential partners and customers with direct access to large volumes of production scrap and end-of-life feedstocks.
The company says the plant will generate revenues from the receipt of fees to dispose of the batteries and the sale of intermediate active material. Additionally, the company intends to further de-risk the technology by demonstrating its operational capability at a commercial scale.
Neometals says the 10tpd battery disposal recycling service will begin in Q1 2022 with its newly expanded shredding and beneficiation circuit. The company also says a federal environmental permit is imminent and battery feed supply arrangements are advancing.
Neometals’ Managing Director Chris Reed said the commissioning herald the comopany’s entry into the European battery supply chain.
“Our solutions for the safe disposal and sustainable recycling of lithium-ion batteries coupled with our flexible business models make Primobius a compelling value proposition for potential customers and a formidable competitor to the incumbent recyclers,” he said.
Shares last traded December 17 at $1.03