Neometals lodges patent applications for lithium battery recycling

Company News

by Jessica Amir

Neometals Limited (ASX:NMT) has lodged three US provisional patents applications for its technology to recover high-value material from spent lithium batteries.

The lithium miner and producer lodged the applications after its studies found its process can economically recovery high-value (99.2 per cent) cobalt, at potentially the lowest quartile of operating costs.

Neometals says the patent of its technology will protect its competitive advantage once the commercial viability emerges.

Neometals has the exclusive rights to commercialise the technology on a global basis.

The company is also building a 100-kilogram per day pilot plant laboratory in Canada to accelerate the commercialistion of the battery recycling technology.

Shares in Neometals Limited (ASX:NMT) last traded over 3.80 per cent higher to 27 cents.

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