Announced
Financials
Sources
Tags
Australia
Electronic Components and Equipment
Private
Single Bidder
Majority
lithium-ion batteries
Friendly
Germany
Joint Venture
Pending
Private Equity
Synopsis
SMS Group, a German metallurgical equipment supplier, and Australia's Neometals, which explores and develops mineral projects, agreed to form a joint venture to commercialize the miner’s lithium-ion battery recycling technology. Financial terms were not disclosed. “SMS is a very well-respected name particularly in Europe, which is expected to become home to half the world’s battery megafactories outside of China. Having a brand name partner with best-in-class expertise on large-scale design, operation and plant maintenance will provide confidence to our prospective feedstock supply partners – the cell and car makers who ultimately have the responsibility for end-of-life recycling,” Chris Reed, Neometals managing director.
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