Neometals developed, and owns 100%, of a sustainable process (“VRP Technology“) to produce vanadium chemical products for battery and aerospace alloying applications from stockpiles of vanadium-bearing steel making by-product (“Slag“). The VRP Technology converts industrial side streams into supply constrained battery metal with zero waste and zero embedded CO2 footprint.
Neometals is currently evaluating low-capex, low-risk technology licensing opportunities with potential partners, including steel makers producing suitable steel slags, to generate future royalty income.
The VRP Technology enables sustainable production of critical and strategic battery materials without mining risk. There is global application however the need for resilient and sustainable European supply of high purity V2O5 makes this region a priority. Europe’s need is driven by:
Almost non-existent European primary production (Russia and China supply ~70% of the market);
Vanadium categorised as ‘Critical’ by the EU – sought for grid scale energy storage applications (Vanadium Redox Flow Batteries, VRFB); and
Regulation and policy requirements to strengthen circular supply chains and increase domestic capacity for extraction, processing and recycling.
Potential 1st quartile production costs with future upside from carbon negative product offering.