RE: 50 tonne a month3 Jul 2024 11:07
THE OFFTAKE AGREEMENT
We are delighted to have signed an offtake agreement with Lohum Cleantech, India’s leading producer of sustainable energy transition materials.
Under the terms of the agreement, we will sell 50 tonnes of black mass per month, produced at our industrial-scale lithium-ion battery recycling facility in Wolverhampton, to Lohum’s facility in India.
This agreement aligns with our strategy to sell black mass to multiple partners as we continue to build our inventory of black mass.
Black mass contains essential metals including lithium, manganese, nickel, and cobalt that can be reprocessed and sold back into the battery manufacturing supply chain.
We have achieved a significant 47% recycling rate from end-of-life battery to black mass at our recycling facility in Wolverhampton.