Stelco is entering the car battery recycling business in a big way. They have signed a deal with to and Australian-German joint venture company Primobius to roll out Primobius’s advanced electric vehicle battery recycling and processing technologies in North America. The option agreement grants Primobius the right to acquire between 25% and 50% equity in Stelco’s wholly-owned subsidiary performing these activities. Otherwise, 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.
The proposed 20,000-net ton per annum integrated shredding and hydrometallurgical refinery at Lake Erie Works will enable Stelco to become a leading lithium-ion battery recycler in North America, producing 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 plant will help meet the need for multiple large recycling facilities to manage significant anticipated volumes from end-of-life electric vehicle batteries originating from the world’s fastest growing cell-making region and provide Stelco with the opportunity to build additional processing facilities across North America.
Many countries are passing legislation mandating that electric car batteries be 110 percent recycled, meaning the battery recycling sector will experience growth as the auto fleet gradually converts to EVs.
Stelco Executive Chairman and Chief Executive Officer, Alan Kestenbaum said: ” 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.”