by Adriano Marches
Stelco Holdings Inc. said on Friday it has signed an agreement with Primobius GmbH to commercialize electric-vehicle battery recycling and processing technologies in North America.
The Hamilton, Ontario-based steel company said it plans to source scrap steel feedstocks to secure life-long electric vehicles and recycle lithium-ion batteries through a proposed integrated 20,000-net-ton-per-year operation at the Lake Erie Works. making plans. On the northern shore of Lake Erie.
The binding licensing and options agreement with Primobius will allow Stelco to pursue commercial lithium-ion battery feedstock sourcing agreements and begin the engineering and approval process, the company said.
Stelco said that under the terms of the agreement, Primobius would issue a license to Stelco, and Primobius would be entitled to gross revenue royalties.
Additionally, Primobius will have the option to acquire up to 50% of the venture, Stellko said.
Primobius is a joint venture of steelmaking-equipment manufacturer SMS Group GmbH and Neometals Ltd., an Australian specialty-metals company.
,[The agreement] Stelco will enable our automotive OEM customers to create a closed-loop system of auto recycling and provision of green steel and battery metals back to their automotive OEM customers,” said Alan Kestenbaum, Stelco’s Executive Chairman and Chief Executive Officer.
Write to Adriano Marchese at [email protected]