TIDMNMT
RNS Number : 2257Z
Neometals Ltd
10 January 2024
This announcement contains inside information
10 January 2024
Neometals Ltd
("Neometals" or "the Company")
Mercedes-Benz Refinery Purchase Order
Highlights
-- Primobius receives purchase order ("PO") from Mercedes-Benz
("Mercedes") for the hydrometallurgical refinery ("Hub") plant to
complete its lithium-ion battery ("LiB") recycling facility,
currently under construction, in Kuppenheim, Germany; and
-- PO covers fabrication, installation and commissioning of the
Hub which will refine intermediate products from the 2,500tpa
shredding 'Spoke' currently being fabricated for Mercedes under a
previous PO.
Innovative battery materials recycler, Neometals Ltd (ASX: NMT
& AIM: NMT) ("Neometals" or "the Company"), is pleased to
announce that Primobius GmbH ("Primobius") has received a PO for
supply of a hydrometallurgical refining Hub from Mercedes for
installation at its Kuppenheim operation in Germany. Primobius is
an incorporated battery recycling joint venture ("JV"), company
owned 50:50 by Neometals and SMS group GmbH ("SMS"). Primobius is
commercialising a patented LiB recycling process via a plant supply
and technology licensing business model.
The PO value is EUR18.8M ( A$30.8M) and was awarded as part of a
cooperation arrangement with Mercedes ("Cooperation"). Under the
Cooperation, Primobius is responsible for the engineering,
equipment supply and installation for a 2,500tpa fully-integrated,
closed loop Mercedes LiB Recycling Pilot Plant ("Mercedes Spoke"
followed by "Mercedes Hub") (together "Mercedes Pilot Plant").[1]
The Hub is designed to match the capacity required to process
intermediate feed material ("Black Mass") generated from the
front-end refining Spoke.
The Mercedes Pilot Plant marks the automotive company's entry
into the field of LiB recycling. As set out in the Mercedes
'Kuppenheim Ground-Breaking Ceremony' Press Release dated 3(rd)
March 2023, the Mercedes LiB Recycling Plant at Kuppenheim "aims to
cut resource consumption and establish closed-loop recycling of
battery raw materials as (Mercedes) moves towards going electric
only". The facility aims to recover materials (including lithium,
nickel and cobalt, amongst others) which will be fed back into
production of a targeted 50,000 battery modules for installation
into new Mercedes vehicles.
The Mercedes Hub PO completes the Primobius contractual
arrangements relating to construction of the Mercedes Pilot Plant
and follows, as scheduled, closely behind the corresponding Spoke
PO[2]. The award is further validation of the efficacy and
scalability of the Primobius technology to meet the needs of global
OEM's generally, and the automotive industry more specifically.
Successful commissioning and the achievement of steady state
operations will significantly de-risk the next level of scale up to
21,000tpa. Beyond the Mercedes Pilot Plant, Primobius is focused on
engineering an industrial scale solution for Mercedes.
Figure 1: Render of integrated Mercedes LiB Recycling Pilot in
Kuppenheim Germany.
Figure 2: Real-time photo of construction progress.
Neometals Managing Director, Chris Reed says:
"We are proud to partner with Mercedes in its journey to lead
the closed-loop recycling of lithium batteries.
The relationship exemplifies some of the unique aspects to
Primobius' business model. One of these is the ability to supply
plant and offer technology licences so OEMs can retain their
battery materials from scrap and end-of-life batteries. Supply
certainty, low operating costs and low carbon footprint are key
value drivers for OEM's looking forward. Our measured approach to
delivering scalable solutions with our partner and leading plant
builder SMS augurs well for penetrating this enormous addressable
market.
Primobius looks forward to working with Mercedes to scaleup the
technology and provide an industrial scale recycling solution to
meet their future needs. "
Next Steps
Primobius has commenced the installation of the Spoke plant
equipment and will now commence fabrication of the Hub equipment
supply package.
About Primobius GmbH
Primobius is a 50:50 incorporated joint venture between
Australian sustainable battery materials producer, Neometals Ltd,
and German global plant manufacturer SMS group. Primobius is
focused on the development of sustainable processes for the
recovery and recycling of lithium-ion batteries.
For more information, please visit https://www.primobius.com
.
Authorised on behalf of Neometals by Christopher Reed, Managing
Director.
For more information, please contact:
Neometals Ltd
Chris Reed, Managing Director & Chief Executive
Officer +61 8 9322 1182
Jeremy McManus, General Manager - IP & IR +61 8 9322 1182
Cavendish Capital Markets Limited - NOMAD
& Joint Broker
Neil McDonald +44 (0)131 220 9771
Peter Lynch +44 (0)131 220 9772
Adam Rae +44 (0)131 220 9778
RBC Capital Markets - Joint Broker +44 (0) 20 7653 4000
Paul Betts
Jamil Miah
Camarco PR + 44(0) 20 3 757 4980
Gordon Poole
Emily Hall
Lily Pettifar
About Neometals
Neometals has developed and is commercialising three
environmentally-friendly processing technologies that produce
critical and strategic battery materials at lowest quartile costs
with minimal carbon footprint.
Through strong industry partnerships, Neometals is demonstrating
the economic and environmental benefits of sustainably producing
lithium, nickel, cobalt and vanadium from lithium-ion battery
recycling and steel waste recovery. This reduces the reliance on
traditional mine-based supply chains and creating more resilient,
circular supply to support the energy transition.
The Company's three core business units are exploiting the
technologies under principal, joint venture and licensing business
models:
-- Lithium-ion Battery ("LiB") Recycling (50% technology)
- Commercialisation via Primobius GmbH JV (NMT 50% equity). All
plants built by Primobius' co-owner (SMS group 50% equity), a
150-year-old German plant builder. Providing recycling service as
principal in Germany and commenced plant supply and licensing
activities as technology partner to Mercedes-Benz. Primobius
targeting first commercial, fully integrated, 21,000tpa plant offer
to Canadian company Stelco in the JunQ 2025;
-- Lithium Chemicals (70% technology) - Commercialising patented
ELi(TM) electrolysis process, co-owned 30% by Mineral Resources
Ltd, to produce battery quality lithium hydroxide from brine and/or
hard-rock feedstocks at lowest quartile operating costs. Co-funding
Pilot Plant trials in 2023 with planned Demonstration Plant trials
and evaluation studies in 2024 for potential 25,000tpa LiOH
operation in Portugal under a JV with related entity to Bondalti,
Portugal's largest chemical company; and
-- Vanadium Recovery (100% technology) - aiming to enable
sustainable production of high-purity vanadium pentoxide from
processing of steelmaking by-product ("Slag") at lowest-quartile
operating cost. Targeting partnerships with steel makers and
participants in the vanadium chemical value chain under a low risk
/ low capex technology licensing business model.
For further information visit www.neometals.com.au
[1] for full details refer to Neometals ASX announcement
headlined "Cooperation Agreement with Mercedes Benz" released on
13(th) May 2022
[2] for full details refer to Neometals ASX announcement
headlined "Mercedes-Benz Recycling Plant Purchase Order" released
on 22(nd) August 2023
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