Stelco’s battery recycling agreement with Primobius
by CM Staff
The company estimated it will generate up to 40,000 net tons per annum of scrap steel that will be recycled into Stelco's steelmaking operations.
HAMILTON — Stelco 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.
According to Stelco, 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 per cent and 50 per cent 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.
Stelco stated plans to use a 20,000-net ton per annum integrated shredding and hydrometallurgical refinery at Lake Erie Works. The company estimated it will produce 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.
The company said the plant should meet the need for multiple recycling facilities to manage anticipated volumes from end-of-life electric vehicle batteries. 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.
“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,” said Stelco Executive Chairman and Chief Executive Officer, Alan Kestenbaum in a statement.
