Neometals Ltd - London-based battery materials producer - Primobius GmbH, Neometals' joint venture with German plant manufacturer SMS Group GmbH, wins a purchase order from car manufacturer Mercedes-Benz Group AG. Primobius, which develops sustainable processes to recycle lithium-ion batteries, will supply a hydrometallurgical refining hub for a Mercedes facility in Kuppenheim, Germany. Purchase order is worth EUR18.8 million and completes contractual arrangements for the Mercedes pilot plant. The hub will refine intermediate products from a shredding 'spoke' at the plant that Primobius is already fabricating for Mercedes.
"Primobius looks forward to working with Mercedes to scale up the technology and provide an industrial scale recycling solution to meet their future needs," says Neometals Managing Director Chris Reed.
Current stock price: 11.99 pence, up 17% in London on Wednesday
12-month change: down 73%
By Tom Waite, Alliance News editor
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Neometals (NMT)