Mining
By Josh White
Date: Friday 13 May 2022
LONDON (ShareCast) - (Sharecast News) - Neometals announced on Friday that its battery recycling joint venture Primobius has signed a cooperation agreement with the Mercedes-Benz recycling subsidiary Licular.
The AIM-traded firm said the deal was conditional on Licular issuing a purchase order for the engineering, supply and installation of the necessary equipment for the recycling plant.
Subject to that purchase order, under the agreement Primobius would enter into a "long-term research and development collaboration to" recycle next generation cell formats and chemistries.
Primobius would also provide a non-exclusive technology licence for the recycling plant, know-how, staff training, engineering and plant management support to Licular.
During the plant's operations phase, the parties would jointly evaluate an industrial-scale operation of Primobius' recycling technology.
The company said the recycling plant would be operated at an agreed Licular location, which Neometals expected to be Mercedes-Benz's Kuppenheim operations in southern Germany.
"We are delighted to formalise our long-term cooperation agreement with Mercedes-Benz," said chief executive officer Chris Reed.
"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."
At 1534 BST, shares in Neometals were up 7.64% in London, at 77.5p.
Reporting by Josh White at Sharecast.com.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 6.29p |
Change Today | 0.29p |
% Change | 4.86 % |
52 Week High | 35.50p |
52 Week Low | 5.50p |
Volume | 656 |
Shares Issued | 622.81m |
Market Cap | £39.19m |
RiskGrade | 155 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Strong Buy | 0 |
Buy | 0 |
Neutral | 1 |
Sell | 0 |
Strong Sell | 0 |
Total | 1 |
No dividends found |
Time | Volume / Share Price |
11:48 | 405 @ 6.17p |
08:57 | 251 @ 5.50p |
You are here: research