- Battery materials refiner Neometals’ (NMT) joint venture company, Primobius, has entered into a recycling memorandum of understanding (MOU) with Itochu
- The MOU outlines a framework to evaluate Primobius’ technology as well as potential commercial arrangements to recycle Itochu’s end-of-life batteries
- Under the agreement, Itochu will supply stationary energy storage batteries for a dedicated Primobius demonstration plant trial
- Products generated during the trial will then be evaluated by Itochu and its supply chain
- The MoU is effective until 31 December 2022
Neometal’s (NMT) joint venture company, Primobius, has entered into a non-binding memorandum of understanding (MOU) with Itochu
Primobius is owned equally by battery materials refiner Neometals and SMS group.
The MOU outlines a framework to evaluate Primobius’ technology as well as potential commercial arrangements to recycle Itochu’s batteries.
Itochu is experience in supplying materials and equipment for battery and stationary energy storage systems. This includes supplying battery raw materials and equipment for battery production.
Under the MOU, the two companies will begin discussions and aim to execute formal long-term cooperation agreements.
“Neometals remains highly encouraged by the fast commercial progress being made by Primobius. Itochu has a global footprint, over 100,000 staff and holds multiple positions along the battery value chain, from raw materials, battery manufacturing equipment to complete stationary energy storage systems for residential and commercial applications,” said Neometals Managing Director Chris Reed.
“This is a significant milestone for Primobius as we build our pipeline of potential critical feedstocks for future commercial operations.”
The first steps under the agreement will include the supply of stationary energy storage batteries by Itochu to Primobius’ demonstration plant.
Meanwhile, Primobius will operate a trial campaign dedicated to the Itochu feed, which will generate recycled products for analysis by Itochu and cathode makers in its supply chain.
Preparations are already underway for a dedicated demonstration plant trial. The company says future binding legal agreements will cover sales of recycled product to establish a circular economy for Itochu, based on the use of Primobius recycling technology.
The Primobius demonstration plant is scheduled to commence operation in the June quarter this year. The campaign to process Itochu’s stationary energy storage batteries at the plant will follow a maiden campaign focussing on electric vehicle batteries.
The MOU is effective until the end of December 2022.
Neometals is in the grey, last trading at 37 cents at 10:22 am AEDT.