Joint Venture in Battery Recycling
German-based revomet GmbH, founded in 2023 as a subsidiary of the international Cronimet Group, and Chinese CNGR Advanced Material Co. Ltd. have officially finalized their joint venture following the Heads of Agreement signed in December 2023. “Once all conditions from the joint venture agreement have been met, CNGR will acquire a 25 percent stake in revomet Bitterfeld GmbH, previously a wholly owned subsidiary of revomet GmbH,” Cronimet informed on its homepage.
“After extensive negotiations and a shared vision, a strategic intent has now become a flagship project, a milestone for both partners and for Europe’s battery industry. The partnership’s goal is to recover valuable raw materials such as nickel, cobalt, and lithium in the highest purity and return them to the production cycle. In doing so, it makes a decisive contribution to closing the loop in the battery value chain and to strengthening Europe’s sustainable raw material supply.” According to Dr. Filipe Costa, Managing Director of revomet GmbH, the partnership would bring together “cutting-edge recycling technologies, international market expertise and a strong logistics network – setting a new benchmark for sustainable value creation in the battery industry”.
While revomet contributes advanced recycling technologies, deep process know-how, and a strategically central location in Bitterfeld-Wolfen, complemented by offices in Leipzig and Karlsruhe, CNGR brings long-standing expertise in the production of precursors for active cathode materials (pCAM) as well as a worldwide network in the battery industry, the information highlighted the benefits of the partnership. And Cronimet, as revomet’s parent company, contributes its global network, decades of leadership in stainless steel recycling, as well as extensive logistics and collection capacities across Europe. “This cooperation between a German and a Chinese company is among the first of its kind in Europe and represents a pioneering model for international partnerships in the battery industry.”
(Published in GLOBAL RECYCLING Magazine 3/2025, Page 20, Photo: Cronimet)
