Under the terms of the MoU, Primobius will contribute its lithium battery materials capabilities.

Itochu will supply stationary energy storage batteries to the demonstration plant, with Primobius to operate the demonstration plant trial campaign, dedicated to the Itochu feed, to generate recycled products for analysis by Itochu and cathode makers in Itochu’s supply chain.

Primobius and Itochu will now enter into good faith discussions with a view to execute a long-term cooperation agreement.

The two companies have started business planning discussions, and the JV has preparations under way for a dedicated demonstration plant, which is scheduled to start operation in the June quarter of this year.