Neometals (ASX:NMT) - Managing Director & CEO, Chris Reed
Managing Director & CEO, Chris Reed
Source: Neometals
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  • Neometals’ (NMT) subsidiary Primobius partners with luxury car manufacturer Mercedes-Benz
  • Mercedes-Benz recently named Primobius its preferred technology partner for the design and construction of a battery recycling plant
  • Primobius will provide a technology licence for the German recycling plant and provide its expertise and support to Mercedes’ recycling subsidiary LICULAR
  • Neometals Managing Director Chris Reed says he’s “grateful” for the opportunity and accepts the challenge to “future proof” NMT’s processing technology
  • NMT shares were up 8.13 per cent and trading at $1.33

Neometals’ (NMT) 50 per cent-owned subsidiary Primobius has entered a binding cooperation deal with LICULAR, a recycling subsidiary of Mercedes-Benz.

This follows Mercedes-Benz announcing in March it had named Primobius as its preferred technology partner for the design and construction of a battery recycling and waste disposal recycling plant.

The agreement will become legally binding upon LICULAR making a purchase order for Primobius to supply and install equipment for the construction, commissioning and operation of a recycling plant.

The companies expect the lithium-ion battery plant will be located at Mercedes-Benz’s Kuppenheim operations in southern Germany and has a nominal design capacity of 10 tonnes per day (2500 tonnes per annum).

Primobius will provide a technology licence for the recycling plant and provide its expertise and plant support to LICULAR.

Neometals Managing Director Chris Reed said he was “grateful” for the opportunity and accepts the challenge to “future proof our processing technology.”

“The research and development collaboration is as important to us as successfully supplying the equipment. We are excited to work together to develop a more holistic recycling solution covering logistics, handling, compliance and sustainability,” Mr Reed said.

The deal also aligns with Mercedes-Benz’s global strategy for recycling automotive battery systems and the proposed plant actually marks the luxury car manufacturer’s first entry into battery recycling.

According to the companies, the agreement is conditional upon LICULAR issuing a purchase order for the engineering, supply and installation of the required equipment.

The deal will expire on December 31, 2026, but may be extended by mutual agreement.

NMT shares were up 8.13 per cent and trading at $1.33 at 10:36 am AEST.

NMT by the numbers
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