The Hamilton, Ont.-based steel company has signed a non-binding memorandum of understanding to form a battery extraction and recycling joint venture with Primobius, the Australian company said in a statement to investors. (The Logic)
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The Hamilton, Ont.-based steel company has signed a non-binding memorandum of understanding to form a battery extraction and recycling joint venture with Primobius, the Australian company said in a statement to investors. (The Logic)
Talking point: The race is on to capitalize on the transition to electric vehicles, perhaps even for the steel company, established in 1910. Under the potential joint venture, Primobious would put a dedicated lithium-ion battery recycling facility beside Stelco’s proposed vehicle-recycling operation. The location of the facility wasn’t included in the announcement from Primobius, which is co-owned by Australia-listed Neometals and German plant manufacturer SMS group. Stelco did not respond to a request for comment on the deal and has not issued a press release on the MOU.
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