CNGR and CRONIMET Join Forces to Close the Loop in Battery Recycling

Frankfurt, Germany –  8 December 08th, 2023

CNGR Advanced Material Co., Ltd, global leader in precursors for active cathode materials of lithium-ion batteries and CRONIMET Holding GmbH, global leader in stainless steel recycling, have signed a Heads of Agreement (HoA) to expand CRONIMET’s recycling capacity at its newly founded competence center for battery materials and battery recycling, Revomet Bitterfeld GmbH, located in Bitterfeld, Germany.

Under the terms of the agreement, CNGR’s investment will allow it to become a strategic partner of revomet. Under the partnership, revomet will install its first two processing lines at the new lithium-ion battery recycling facility in Bitterfeld, Germany. The new installation will have an annual capacity of 28,000 metric tons and the first line is expected to be operational in the first half of 2024.

This partnership enables CNGR and CRONIMET to operate one of the largest battery recycling facilities in Western Europe. The partners will evaluate further projects in Bitterfeld and other countries as demand requires.

 “CNGR Global Recycling and CRONIMET have been in contact for more than a year and share a strong mutual trust, culminating in the investment at revomet Bitterfeld,” said James Baek, CEO of CNGR Global Recycling. “This partnership allows us to close the loop in the lithium-ion battery supply chain and establishes a sustainable recycling solution for the European market. We are confident that CRONIMET provides the most ecological and efficient recycling technology and experience in Europe. By combining our expertise, revomet Bitterfeld will become one of the most advanced recycling facilities .”

CRONIMET’s CEO, Jürgen Pilarsky, comments:

“At CRONIMET, we believe in the power of collaboration and expertise to drive sustainability in the battery industry. The decision to create revomet as our global battery competence center, is a testament to our strategic focus on developing a sustainable battery materials supply chain. We are proud to have CNGR as our partner to establish the first recycling facility at our location in Bitterfeld .

Leveraging our strengths in nickel and cobalt material recycling, and building on our mutual trust and shared interests, we aim to bring unparalleled efficiency and ecological responsibility to the forefront of battery recycling.”

About CNGR Advanced Material Co.  Ltd:

Established in September 2014, CNGR Advanced Material Co, Ltd. is a professional comprehensive service provider of advanced energy materials.

We maintain strategic cooperation with dozens of famous enterprises globally. Our core products, including high voltage tricobalt tetraoxide, high-nickel NCM and NCA, are supplied to the world’s top 500 enterprises located in China, Europe, America, Japan and Korea.

About Cronimet Holding GmbH:

The CRONIMET Holding Group, headquartered in Karlsruhe, Germany, is a global specialist for stainless steel scrap and ferroalloys. The focus here is on returning metallic raw materials to the materials cycle through recycling and processing, thus contributing to the securing of raw materials and raw material efficiency. The CRONIMET Holding Group was founded in 1980 and is now present worldwide with more than 1500 employees at about 70 locations.

About Revomet Bitterfeld GmbH

Revomet Bitterfeld GmbH is a newly founded CRONIMET company focusing on innovative and sustainable battery materials and recycling. Building on the legacy of CRONIMET it will work on closing the loop in the battery life cycle. revomet aims to reduce waste in the EV sector and establish itself as a key player in the industry with its global network and expertise.