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Innovative project development company, Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), notes the press release made today by Mercedes-Benz AG(“Mercedes-Benz”)(“Mercedes Release”). Mercedes-Benz has advised that its wholly owned subsidiary LICULAR GmbH (“LICULAR”) plans to cooperate with Primobius GmbH (“Primobius”), the incorporated joint venture company owned 50:50 by Neometals and SMS group GmbH (“SMS”), as part of Mercedes-Benz’s push to develop a holistic and sustainable recycling approach for lithium-ion batteries.
• Neometals notes the press release made today by Mercedes-Benz AG (“Mercedes-Benz”), regarding its global strategy for recycling automotive battery systems, which includes a recycling plant at its Kuppenheim operations in Southern Germany;
• Mercedes-Benz has announced that its subsidiary LICULAR GmbH (“LICULAR”) plans to cooperate with Neometals’ battery recycling JV, Primobius, as its technology partner, for the design and construction of the proposed recycling plant;
• Primobius is in advanced discussions with Mercedes-Benz regarding the design and construction of a 2,500 tpa lithium-ion battery recycling plant for LICULAR’s facilities; and
• Neometals looks forward to Primobius’ continuing collaboration with Mercedes-Benz and will keep the market informed of developments.
Mercedes-Benz has today announced that Primobius is its preferred technology partner for the conceptual design and construction of a planned battery recycling and waste disposal recycling plant at Mercedes Benz’s Kuppenheim Operations in Southern Germany. The proposed recycling plant at Kuppenheim marks Mercedes-Benz’s first entry into the field of battery recycling. As set out in the Mercedes Release and based on preparatory work carried out by Primobius and LICULAR, Neometals expects the recycling plant will have a nominal capacity of 2,500 tonnes per annum (up to 10 tonnes per day) and will be built in two stages with the first stage (mechanical dismantling) commencing production in 2023.
Neometals confirms that Primobius is finalising discussions with Mercedes-Benz regarding the planned cooperation set out in the Mercedes Release. The formal agreements relating to the cooperation agreement are expected to be signed between Primobius and LICULAR, following negotiations under an earlier informal non-binding memorandum of understanding between the parties. Neometals is pleased with how the discussions are progressing and notes that Mercedes-Benz has publicly made its intentions known in advance of the parties executing binding legal agreements. Neometals looks forward to Primobius continuing its negotiations with Mercedes-Benz and providing further updates on the cooperation with LICULAR.
Chris Reed says:
“We are proud that Mercedes-Benz, one of the greatest names in the automobile industry, has announced its intention to partner with Primobius. Mercedes-Benz has made public its clear commitment towards sustainable battery recycling, with Primobius as its preferred technology partner for the design and construction of an integrated recycling plant in Kuppenheim. Lithium battery recycling supports conservation of resources, decarbonisation and supply chain resilience and we are excited to assist Mercedes in its goal to re-use recovered materials for the manufacture of new cells for Mercedes-EQ vehicle models.
All of our discussions to date have been very positive and we look forward to continuing our negotiations and entering into binding legal agreements in the near future.”
This article includes content from Neometals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.