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Steel News

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Home Steel News Atlas Materials secures financing for new nickel technology applied in EV batteries
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Atlas Materials secures financing for new nickel technology applied in EV batteries

29 Sep 2023 15:14 reported by Margaret Yeh

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Atlas Materials has developed a new technology to create low-grade nickel that can be applied in EV batteries without waste and with low emissions.

The company has raised US$27 million, and the money will be used to launch a pilot plant at one of three possible sites in either Canada or the United States by 2027 with 1,800 metric tons of annual nickel output. But they still need more funding to actually run the plant.

Atlas' new technology can process saprolite nickel ores into mixed hydroxide precipitate (MHP) for batteries. Saprolite ores are usually turned into ferrochrome to be used in stainless steel. This new processing technology does not result in waste products.

The company said the processing of ore into MHP will result in two byproducts, magnesium hydroxide and a certain material that can replace portland cement in buildings, both of which can be sold on the market. This new technology is basically with zero carbon dioxide emissions.

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Metal Price Index

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  • Created with Highcharts 4.0.41. Apr1. May1. Jun2200240026002800
  • Created with Highcharts 4.0.41. Apr1. May1. Jun800085009000950010,00010,500
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LME Official Bid Price

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