22nd Aug 2023 09:52
(Alliance News) - Neometals Ltd on Tuesday said its 50% owned subsidiary Primobius GmbH has received a purchase order to supply a 10 tonnes per day lithium-ion battery shredding spoke.
Neometals shares rose 10% to 28.66 pence each on Tuesday morning in London.
The London-based sustainable battery materials producer said the order was awarded by Mercedes-Benz Group AG as part of a cooperation arrangement. Under the arrangement, Primobius will create, supply and install a fully-integrated, closed loop lithium-ion battery recycling plant.
Spoke shredding is a process by which lithium-ion batteries are broken down into inert materials, which removes the risk of fire or explosion. Primobius is a 50:50 joint venture with SMS Group GmbH.
The new facility, located in Kuppenheim, Germany, is expected to have an annual capacity of 2,500 tonnes, and will be used to recover materials including lithium, cobalt and nickel, which will be fed back into production for new Mercedes vehicles.
Neometals Managing Director Chris Reed said: "We are honoured to supply and support Mercedes in its journey to lead the closed-loop recycling of lithium batteries by automakers. Our long-term collaboration will ensure our process remains at the leading edge, able to process the latest innovations in cell chemistry, format and function.
"The spoke is ready to be offered to our business development pipeline and the hub will soon be product ready. I would like to thank our partner SMS and our respective teams in Primobius for their commitment to ensuring the quality of our recycling solution to meet Mercedes' exacting requirements."
By Harvey Dorset, Alliance News reporter
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