Latest Pure Battery Technologies News
Jan 26, 2021
Ashurst advised Pure Battery Technologies Pty Ltd. on the deal. Pure Battery established a joint venture with Cronimet Holding Group via its Singapore based subsidiary Battery Metals Ltd. The joint venture is formed through Pure Battery Technologies Germany AG, whereby Pure Battery holds the majority in such joint enterprise. After advising Pure Battery on the acquisition of all shares in Königswarter & Ebell Chemische Fabrik Gesellschaft mit beschränkter Haftung (K&E) in 2020, the joint venture establishment is the second project in which Ashurst advised Pure Battery. Pure Battery, a Brisbane based nickel and cobalt refiner, uses a cutting-edge proprietary Selective Acid Leach (SAL) process to upgrade Mixed Hydroxide Precipitate (MHP, a laterite nickel intermediate, or similar hydroxides) into battery ready nickel and cobalt precursor materials with very low environmental footprint. Cronimet Holding Group is a global specialist in stainless steel scrap, ferroalloys and primary metals. Through this joint venture with Cronimet, Pure Battery opened a direct access to the recycling industry in Europe and in particular in Germany. Ashurst worked very closely with the business team of Pure Battery, in particular Björn Zikarsky (Managing Director/CEO), Stephen Wilmot (Chairman), and Thomas Fahrner (CEO of PBT Germany). The Ashurst team was led by partner Dr Thomas Sacher (Picture – Corporate M&A) and counsel Volker Germann (Corporate M&A, both Munich). They were supported by partner Dr Maximilian Uibeleisen (Regulatory, Frankfurt), counsel Dr Maria Held (Competition), associate Armin Müller (Corporate M&A, both Munich), counsel Dr Fabian Klein (IP), as well as associate Dr Simon Groneberg (Regulatory, both Frankfurt).