Chinese battery materials company CNGR Advanced Material has formed a joint venture with German CRONIMET Group subsidiary “revomet”. Under the agreement, CNGR will acquire a 25-percent stake in “revomet Bitterfeld GmbH” which operates a plant that processes production waste from the battery industry. The plant recovers raw materials, such as nickel, cobalt, and lithium, for use in producing new battery materials.
Annual capacity of 28,000 tons
With an annual target capacity of 28,000 tons, divided between two processing lines, the project was first announced in December 2023. While “revomet” will contribute its recycling expertise and process technology, CNGR will bring its experience in manufacturing cathode materials and its relationships with international battery manufacturers to the table. The company is supported by the CRONIMET Groupʼs logistics network spanning all over Europe. According to the partners, the joint venture is one of the first collaborations of its kind in Europe between a German recycling company and a Chinese cathode material manufacturer.
Source:
https://www.cronimet.de/en/newsroom/press/current-press-releases/
