Neometals Provides Update on Primobius Battery Recycling Progress

Perth-based Neometals Ltd (ASX: NMT, LSE: NMT) is an emerging sustainable battery materials producer commercializing three environmentally-friendly processing technologies for lithium, nickel, cobalt and vanadium. The company recently provided an update on the progress of its lithium-ion battery (LIB) recycling joint venture, Primobius.

Primobius, co-owned by Neometals and German engineering firm SMS group, has completed demonstration trials that yielded outstanding results. Recoveries of over 95% were achieved for nickel, cobalt and copper, with new lithium recovery results pending. These results will be incorporated into engineering studies for a proposed commercial-scale 50 tonnes per day integrated LIB recycling plant in Germany.

The success of the improved process puts Primobius in a position to meet the stringent upcoming EU battery regulations on recycling rates. With its process improvements validated, Primobius can now offer plant supply contracts to partners and customers seeking circular battery supply chains. An initial 10 tonnes per day plant is nearing completion for Mercedes-Benz. Larger scale plants are also planned with Stelco in Canada.

As the first company positioned to meet impending EU regulations, Neometals is poised to capitalize on the rapidly growing LIB recycling industry. With Primobius' process and plant offerings validated, Neometals' circular battery materials business is reaching an inflexion point. Investors should watch for near-term catalysts as Primobius secures additional partners. Neometals offers leverage to the sustainability-driven battery megatrend.