Neometals now has direct access to European capital markets and the City of London after its shares began trading on the UK’s AIM market, completing the battery metal recycling company’s dual listing. Immediately after the listing, which raised no additional capital, Neometals shares on the ASX traded from $1.20 before listing to $1.48 at the close of trading on Wednesday.
Neometals is moving into clean energy, battery metals and advanced materials with its proprietary green process technologies aimed at generating projects in the energy storage commodity markets.
The company hit a major milestone in December last year when it commissioned its first commercial lithium-ion battery recycling plant in Hilchenbach, Germany, with joint venture partner engineering titan SMS. Group. Joining AIM is a crucial new step for the company in its European ambitions.
Full-time operations in Germany are expected to start this quarter when the plant is expected to safely recycle up to 10 tonnes per day of battery-grade metal sulfate chemicals into the production of new batteries.
Having a battery recycling asset in Germany, the heart of European clean energy production, is likely to attract interest from UK AIM investors given its geography and the global appetite for green energy.
The latest development follows a number of other significant investment decisions over the past 12 months for Neometals, which said the listing was aimed at maximizing liquidity and better capitalizing on substantial interest from UK investors and in its role of supporting sustainable battery value chains.
According to management, it has a growing suite of sustainable downstream, recovery and recycling projects, supporting the global transition to more circular supply chains and cleaner energy.
Neometals Managing Director Chris Reed said: “We are delighted to begin trading on AIM. With this listing, we look forward to broadening our shareholder base by offering a differentiated investment opportunity and providing UK and European investors with a means to gain exposure to projects at the heart of recycling and decarbonisation of supply chains associated with the electric vehicle and energy storage sectors.
In another late 2021 announcement, Neometals signaled a sizzling entry into the electric vehicle, or “EV” battery recycling market in North America after the 50:50 joint venture it created with SMS Group, Primobius GmbH, has signed an agreement to market its recycling. technology with Canadian steel giant Stelco Holdings. According to Neometals, the region is the fastest growing sector for lithium battery production.
The scale and scope of the recycling plant can be extended to include a sustainable hydrometallurgical refinery to recover and regenerate battery-grade metal sulfate chemicals for reuse in the production of new batteries, the company said. .
In Portugal, the company markets a proprietary process to produce lithium hydroxide from lithium solutions by electrolysis. It is a more efficient method that avoids the expensive, carbon-intensive reagents used in traditional chemical conversion.
Broadening its focus on the City of London Money Markets ahead of major investment decisions could be seen as a wise move for a company with very advanced European plans, especially those in the energy supply chain area. own.
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