(Alliance News) - Neometals Ltd on Friday said its half-owned joint venture firm Primobius GmbH has amended its development timeline for the commercialisation of its lithium-ion battery recycling technology.
The battery materials producer explained that Primobius has adjusted the timeline to accommodate a new end-to-end lithium-ion battery recycling demonstration trial for customers in December.
As a result, the completion of the commercial-scale hydrometallurgical refinery is now expected late in the second quarter of 2023.
Neometals Managing Director Chris Reed said: "Primobius' strategy to prioritise its foundation customer needs ahead of own plant building ambitions as principal has necessarily delayed finalisation of evaluation studies. The benefits of additional trials will be in the quality of the data, design and delivery of our recycling plants. The demand for our product is strong and our teams have built an enviable pipeline of new business opportunities with participants in every stage of the global lithium-ion battery supply chain."
Shares in Neometals were up 0.5% at 61.28 pence on Friday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Neometals (NMT)