Project developer Neometals will create a 50:50 lithium-ion battery recycling joint venture (JV) with German metallurgical plant supplier SMS group
The Primobius JV will commercialise the Australian firm Neometals’ proprietary recycling technology to recover lithium, nickel, cobalt and other materials from electric vehicle battery packs and consumer electronic batteries.
Recovered and refined materials will be placed into the battery supply chain.
The creation of the JV follows the successful 13-month pilot-plant test work on Neometals’ proprietary recycling technology.
Neometals executed a binding memorandum of understanding with SMS group last October, which allowed SMS group to complete exclusive due diligence on a transaction to co-fund final stage process evaluation before co-developing commercial recycling operations with Neometals.
Next steps for the JV will include construction and commissioning of a €3.5 million ($4 million) Demonstration Plant at a SMS group facility in Germany.
The plant will use Neometals piloted commercial-scale comminution (shredding) and hydrometallurgical circuits. The comminution circuit (20ktpa capacity) is en-route from the US and the plant will generate results for a formal feasibility study with commercial feedstock, offtake and financing activities occurring in parallel.