revomet GmbH, a subsidiary of the international CRONIMET Group, and CNGR Advanced Material Co. Ltd. have finalized a joint venture agreement. Under the agreement, CNGR will acquire a 25% stake in revomet Bitterfeld GmbH, previously fully owned by revomet. The partnership follows a Heads of Agreement signed in December 2023.
revomet Bitterfeld GmbH operates one of Europe’s most advanced battery recycling facilities, focusing on recovering high-purity raw materials from battery scrap. The joint venture aims to contribute to a closed-loop battery value chain by recycling nickel, cobalt, and lithium and returning them to production.
“This partnership combines advanced recycling technologies with global market experience and a strong logistics network, setting a new standard for sustainable value creation in the battery sector,” said Dr. Filipe Costa, Managing Director of revomet GmbH.
Joint Venture Highlights:
- revomet: Provides advanced recycling processes, extensive know-how, and a strategically located facility in Bitterfeld-Wolfen, supported by offices in Leipzig and Karlsruhe.
- CNGR: Brings expertise in precursor materials for cathodes (pCAM) and access to a global battery market network.
- CRONIMET: Offers a worldwide network, decades of experience in metal recycling, and broad logistics and collection capabilities across Europe.
This collaboration is among the first German-Chinese joint ventures in European battery recycling. CNGR’s experience from the Chinese e-mobility market complements revomet’s European recycling proficiency, creating a central hub of knowledge and technology in Bitterfeld.
“We’re proud to contribute to an efficient and sustainable battery industry in Europe through this exchange of skills and expertise,” said Jürgen Pilarsky, CEO and shareholder of the CRONIMET Group.
Founded in 2023 as part of the CRONIMET Group, revomet specializes in recycling end-of-life and production-related battery waste. The company’s Bitterfeld-Wolfen facility treats lithium-ion batteries with environmentally friendly processes, while its offices in Leipzig and Karlsruhe coordinate logistics and process control. Through CRONIMET’s European collection network, revomet efficiently collects and processes battery scrap to supply high-quality raw materials for a circular economy.
Source: CRONIMET PR News, Email Communication
