IRW-PRESS: Redivium Limited: Redivium Engages Oval Advisory to Support its UK Battery Recycling Projects
September 2, 2024 / IRW-Press / Redivium Limited (ASX: RIL, FWB: HR90) (Redivium or the Company) is pleased to announce the appointment of boutique project finance and strategic transactions advisory group Oval Advisory Limited (Oval). The Group will assist Redivium in the development and financing of its battery recycling projects under construction and planning in the UK. This appointment is an important step for Redivium in its journey to establish itself as a leading sustainable recycling and critical battery materials supply company in the UK market.
Financing strategy in the United Kingdom
Oval will provide strategic advisory services to Redivium on its battery recycling initiatives in the UK. Under the terms of the engagement, the collaboration will address three key projects:
– A first phase focusing on optimising the structuring of the financing required for Redivium's lithium-ion battery shredding joint venture in North West England.
– A second phase of funding targeting the recycling of unspecified waste and waste from battery manufacturing in England.
– A third phase of strategic planning and financing of a hydrometallurgical circuit in the UK Midlands based on the Mercedes Benz solution provided by the owners of Redivium's licensed technology (license to commercialise patented technology of ACN 630 589 507 Pty Ltd. jointly owned by Neometals Ltd. (ASX: NMT) and SMS Group GmbH).
This appointment will enable Redivium to leverage Oval's expertise in project finance, strategic partnerships and mergers and acquisitions to accelerate the development and commercialisation of its battery recycling facilities, making it the UK's first integrated battery materials manufacturer.
Michael OLeary-Collins, Executive Director of Redivium and CEO Europe, explains:
We are excited about the opportunity to expand our UK operations with the support of Oval. Battery raw materials from sustainable sources are essential to the UK's resilience and strategic autonomy. The UK is seeking critical raw materials from sustainable sources that are proven to be consistent with its energy security interests. We are delighted to have Oval supporting us on our journey to position ourselves as a supplier of high quality battery materials to the UK's domestic battery manufacturing supply chains.
This ASX announcement has been released for publication by the Board of the Company.
For further information please contact:
Michael O'Leary-Collins
Managing Director
Redivium GmbH
Email: [email protected]
About Redivium Limited (www.redivium.com)
Redivium's mission is to provide advanced battery recycling technologies across Europe. The company also has the commercialisation rights for the UK and Ireland, Scandinavia, Italy and South East Europe of a technology developed by Neometals and licensed from ACN 630 589 507 Pty Ltd. This technology is jointly owned by Neometals Ltd. (ASX & AIM: NMT) and German engineering company SMS Group GmbH.
The company's safe recycling processes are used to eliminate waste from lithium-ion batteries and recover valuable materials such as lithium, nickel, copper and anode components for reuse in new battery production. Against the backdrop of strict EU regulations and EU funding to support innovative recycling processes as the automotive industry electrifies, Redivium's goal is to establish itself as a leading European battery recycling company.
About Oval Advisory Limited
Oval Advisory Limited is a consultancy specialising in strategic financial advisory and project management in the critical minerals & metals and decarbonisation sectors. With its expertise in corporate development strategies and project finance solutions, including financing, structuring and strategic partnerships, Oval assists its clients in executing complex transactions and achieving their key business objectives.
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