Neometals

What Neometals does

Neometals Ltd (ASX:NMT, formerly Reed Resources, founded 2001, headquartered in Perth, Western Australia) is a public project developer and technology licensor focused on the sustainable recovery of critical materials — lithium, cobalt, nickel, manganese and vanadium — from waste streams and conventional feedstocks, alongside a near-term gold mining operation. The company's core technology portfolio comprises three proprietary processes: the ELi Process™ electrolysis route to battery-quality lithium hydroxide (commercialised through the 70/30 Reed Advanced Materials JV with Mineral Resources Ltd); a patented hydrometallurgical lithium-ion battery recycling process (commercialised through the 50/50 Primobius GmbH JV with SMS group GmbH, with anchor plant for Mercedes-Benz in Germany and a 21,000 t/y North American licence to Stelco); and the patent-pending Vanadium Recovery Process VRP1, producing high-purity V2O5 from steel slag (held via wholly-owned Avanti Materials Ltd and 86.1%-owned Novana Oy in Finland, targeting 9,000 t/y by 2027–2028).

Neometals monetises these technologies primarily through a low-capital royalty/licensing and JV-partner model, with industrial partners — SMS group, Mineral Resources, Rio Tinto, H2 Green Steel, STEGRA, Salzgitter and Stelco — supplying plant fabrication, feedstock and downstream offtake. Complementary mining assets include the Barrambie Gold Project (Ironclad deposit, 15,000 oz Indicated/Inferred Resource, 335k–775k oz JORC Exploration Target), the Barrambie VTM Project (in divestment), and the recently acquired Utah Brine Project (51% interest, 1.9–6.5 Mt LCE / 94–325 Mt MOP Exploration Target).

The company is pre-revenue with negative EBITDA, holds approximately USD 9.3 million in net cash following an August 2024 USD 3 million equity raise, and is funding multi-jurisdiction development through a mix of equity, EU grants (EUR 48.7M Business Finland grant) and conditional debt (EIB cornerstone finance for VRP1). It employs 11–50 people across operations in Australia, Germany, Finland and the United States.

Name

Neometals

Legal name

Neometals Ltd

Website

https://neometals.com.au

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Neometals Ltd is a Perth-based, ASX-listed project developer that commercialises proprietary processing technologies — lithium-ion battery recycling (Primobius JV with SMS group), lithium chemical production (ELi Process™), and vanadium recovery from steel slag (VRP1) — through JVs and licensing to automotive OEMs, mining majors, and steel producers across Australia, Europe and North America.

Ownership category

akta.pro rank

Product category

Critical Materials Processing Technologies

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Chemical Manufacturing (325)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330), Gold And Silver Ores (1040), Metal Mining (1000), Industrial Inorganic Chemicals (2810)

akta.pro primary industry

Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE)

akta.pro secondary industries

Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI), Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

Keywords

• Lithium-ion battery recycling
• Critical materials recovery
• Vanadium recovery processing
• Lithium hydroxide production
• Mineral resource development

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. IP Licensing and Royalties: Neometals commercialises its proprietary processing technologies (ELi Process, LiB recycling, vanadium recovery) through a low-capital royalty/licensing model. Revenue is generated through technology licensing fees, plant supply contracts, and ongoing royalties from commercial deployments by industrial partners.
2. Gold Mining Operations: Developing the Barrambie Gold Project in Western Australia with near-term production potential from the Ironclad gold deposit. Planned mining services joint venture with BML Ventures will fund and manage mining operations for 50:50 profit share after cost recovery, generating cashflow for the company.
3. Lithium-Potash Brine Extraction: Utah Brine Corporation joint venture evaluating lithium and potash production from brine in the Paradox Basin, Utah. Revenue expected from mineral extraction and sale once maiden resource is defined and commercial production commences.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Neometals develops and commercializes proprietary sustainable processing technologies for the recovery of critical materials, including lithium-ion battery recycling (via the Primobius JV with SMS group), lithium chemical production via the ELi Process electrolysis technology, and vanadium recovery from steel slag (VRP1). The company also develops mineral resource projects including the Barrambie Gold Project and the Utah Brine Project for lithium and potash extraction. Revenue is generated primarily through technology licensing, joint ventures with industrial partners, and planned mining production.

Product overview

Neometals is an innovative project developer commercializing sustainable processing technologies and developing mining projects. The company's technology portfolio centers on three main offerings: (1) Lithium-ion Battery Recycling Technology commercialized through the Primobius joint venture with SMS group GmbH, (2) the ELi Process™ for producing battery-quality lithium chemicals via electrolysis, and (3) the Vanadium Recovery Process for producing high-purity V2O5 from steel slag. These technologies are commercialized through low-capital royalty/licensing models. In parallel, Neometals is developing mining assets including the Barrambie Gold Project (near-term production opportunity), the Barrambie VTM Project (titanium/vanadium, in divestment), and the Utah Brine Project (lithium/potash in USA). The company operates through various joint ventures including Reed Advanced Materials (ELi Process), Novana Oy (vanadium recovery), and Utah Brine Corporation.

Differentiator

Problem solved

Functional benefit

Products and services

• Primobius Lithium-ion Battery Recycling

Quantifiable outcome

• ELi Process offers lower OPEX and CAPEX versus conventional lithium hydroxide production methods
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core, major and supporting.

• Rio TintocoreStrategic or Co-development Partner · 26 June 2025Neometals and Rio Tinto extended a lithium brine-processing pilot project by 12 months to continue testing Reed Advanced Materials' ELi Process technology, including field trials with brine from Rio Tinto's assets. The extension signifies ongoing engagement but also delays data crucial for potential commercial scale-up. The trial results could influence future investments or development decisions.
• SMS group GmbHcoreStrategic or Co-development Partner50:50 incorporated joint venture called Primobius GmbH with SMS group GmbH commercialising Neometals' lithium-ion battery recycling technology globally through plant supply and technology licensing. Primobius operates its own LiB disposal service in Germany and is building a 2,500 t/y recycling plant for Mercedes-Benz.
• Mineral Resources LtdcoreStrategic or Co-development Partner70:30 incorporated joint venture called Reed Advanced Materials Pty Ltd is commercialising the ELi Process for sustainable lithium hydroxide production. Mineral Resources Ltd holds 30% interest in the joint venture.
• H2 Green SteelmajorStrategic or Co-development PartnerMemorandum of understanding with H2 Green Steel for potential vanadium recovery operations in Sweden, targeting sustainable vanadium supply for green steel production.
• STEGRAmajorStrategic or Co-development PartnerNovana Oy (majority-owned by Neometals) has a MoU with STEGRA for vanadium-bearing feedstocks for a second potential VRP operation in Boden, Sweden.
• Salzgitter Flachstahl GmbHmajorStrategic or Co-development PartnerNovana Oy has a MoU with Salzgitter Flachstahl GmbH for feedstock supply for the VRP vanadium recovery project, leveraging German steel slag as feedstock.
• Mercedes-BenzcoreStrategic or Co-development PartnerLong-term cooperation agreement with Mercedes-Benz for the construction and operation of a 2,500 t/y lithium-ion battery recycling plant in Germany through the Primobius joint venture, currently in industrial validation stage.
• StelcomajorChannel Partner/ Reseller/ DistributorNorth American licensee for the first commercial 21,000 t/y Primobius lithium-ion battery recycling plant, targeted for Q2 2025 deployment.
• Utah Brine CorporationcoreStrategic or Co-development PartnerIncorporated joint venture (51% Neometals, 49% Omaha Value Inc) evaluating a lithium/potash brine project in the Paradox Basin, Utah. UBC has entered into an access and use licence with American Helium LLC and Ascent Resources plc over 23 inactive wells.
• American Helium LLCsupportingStrategic or Co-development PartnerUBC has entered into an access and use licence with American Helium LLC (and its affiliates) over 23 inactive wells, data and associated infrastructure in Utah's Paradox Basin for brine extraction.
• Ascent Resources plcsupportingStrategic or Co-development PartnerUBC has an access and use licence with Ascent Resources plc over oil and gas leases in the Paradox Basin, Utah for brine-based lithium and potash extraction.
• BML Ventures Pty LtdcoreStrategic or Co-development PartnerMining services joint venture with BML Ventures Pty Ltd for development of the Ironclad gold deposit at Barrambie. BMLV will fund the majority of pre-mining activities and manage mining and haulage operations for a 50:50 profit share after cost recovery.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• American Battery Technology Company: US-listed developer of battery materials recycling and primary resource processing technologies with a similar pre-revenue, technology-licensing and JV-oriented model to Neometals.
• Li-Cycle: Public, pre-revenue lithium-ion battery recycling company pursuing hydrometallurgical processing at scale — closely comparable to Neometals' Primobius hydrometallurgical LiB recycling technology and JV-driven commercialisation approach.
• Redwood Materials: Private but well-funded LiB recycling company founded by a former Tesla CTO, also targeting closed-loop supply for automotive and battery OEMs — directly comparable end-market and technology positioning to Primobius.

Broad incumbents

• Ecobat: Largest European battery recycling group with expanding Li-ion processing capacity, competing for the same EU automotive and OEM recycling offtake opportunities as Primobius.
• Energy Fuels: US-listed critical minerals processor with vanadium, uranium and rare earth operations and growing recycling offtake; comparable to Neometals in vanadium recovery from secondary feedstocks.
• Umicore: Large Belgian materials technology group with established battery materials and precious metals recycling businesses, serving the same automotive and battery OEM customers Neometals targets via Primobius.
• Glencore: Global mining and commodities major with a growing battery materials recycling footprint including LiB black-mass processing; competes with Neometals in the same critical-minerals recycling supply chain.

Emerging players

• Green Li-ion: Singapore-headquartered Li-ion battery recycling technology company licensing hydrometallurgical processes to battery manufacturers — parallels Neometals' licensing model via Primobius.
• Princeton NuEnergy: Emerging LiB recycling company using plasma-based and hydrometallurgical processes to recover critical materials from end-of-life batteries, overlapping with Primobius' recycling focus and pre-revenue stage.
• Largo Resources: Public pure-play vanadium producer developing high-purity V2O5 for energy storage and aerospace markets — directly comparable to Neometals' VRP1 sustainable vanadium recovery process.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/neometalsltd
• LinkedInlinkedin.com/company/neometals

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neometals