Stelco To Enter EV Battery Recycling With Primobius

0
392
A file photo of Stelco To Enter EV Battery Recycling With Primobius

Estimated Reading Time: 2 minutes

Stelco Holdings Inc. announced that it has executed binding licensing and option agreements with Primobius GmbH to commercialize Primobius’s proprietary advanced electric vehicle battery recycling and processing technologies in North America. The licensing agreement will enable Stelco to advance commercial lithium-ion battery feedstock sourcing agreements and commence engineering and approvals processes.

The option agreement grants Primobius the right to acquire between 25% and 50% equity in Stelco’s wholly-owned subsidiary performing these activities. If not exercised by Primobius, Stelco will have the exclusive rights to utilize Primobius’s proprietary technology in Canada, the United States and Mexico to recycle lithium-ion batteries removed from end-of-life electric vehicles, and Primobius will be entitled to a gross revenue royalty.

The proposed 20,000-net ton per annum integrated shredding and hydrometallurgical refinery at Lake Erie Works will enable Stelco to become a leading lithium-ion battery recycler in North America, producing up to 18,400 net tons per annum of nickel, manganese and cobalt sulphates, and lithium hydroxide and carbonate, and is also expected to generate up to 40,000 net tons per annum of scrap steel that will be recycled into Stelco’s steelmaking operations.

ALSO READ  GM and Honda Will Co-develop Affordable EVs Targeting the World’s Most Popular Vehicle Segments

The plant will help meet the need for multiple large recycling facilities to manage significant anticipated volumes from end-of-life electric vehicle batteries originating from the world’s fastest growing cell-making region and provide Stelco with the opportunity to build additional processing facilities across North America. Capital costs of the plant will ultimately be based on detailed engineering studies expected to be completed in mid-2022 and are not expected to be material for the initial planning and development stages.

Stelco Executive Chairman and Chief Executive Officer, Alan Kestenbaum said, “Stelco is thrilled to partner with Primobius. After an extensive search for best-in-class technologies worldwide, including a detailed review of Primobius’s newly commissioned and operational demonstration plant in Hilchenbach, Germany on the premises of leading engineering firm SMS, Stelco has reached an agreement that will enable Stelco to create a closed loop system of auto recycling and provision of green steel and battery metals back to its automotive OEM customers. With this novel approach, Stelco is uniquely positioned to provide the highest quality automotive steels available in North America as well as a greater value proposition to its customers.”

ALSO READ  Week In India: Delhi Installs First Private EV Charging Point; Delhi Govt To Set Up EV Charging Stations At Govt Offices; And More

Kestenbaum continued, “By providing this service, Stelco will be able to recycle end-of-life electric vehicles, convert them into green steel and recover from their batteries high purity metals such as lithium, nickel, cobalt and manganese. The synergies obtained by joining the leading engineering company in the world with the leading battery metals technology company and with our state-of-the-art steelmaking capabilities position Stelco as the best-in-class partner to automotive OEMs, particularly those pursuing electric vehicle strategies.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.