Extract from this mornings release:
PRIMOBIUS TO ENTER NORTH AMERICA WITH STELCO FOR RECYCLING OF ELECTRIC VEHICLE BATTERIES HIGHLIGHTS
Primobius executes agreementsto commercialise its recycling technology into North America, the fastest growing lithium battery production region, with leading Canadian steelmaker StelcoHoldingsInc. (TSX: STLC);
Stelco plans to secure large volumes of end-of-life vehicles to source scrap steel feedstocks and recycle lithium-ion batteries in a proposed 50tpd integrated operation at its Lake Erie Works;
Primobius will licence a Stelco battery recycling special purpose vehicle and hold an option to acquire between 25% and 50% equity by contributing its pro-rata share of sunk evaluation and development costs; and
Allows Stelco to focus on feedstock and approval activities and Primobius on its demonstration trials, engineering studies and 10tpd commercial disposal operation in Hilchenbach, Germany.
