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    JMAT   GB00BZ4BQC70

JOHNSON MATTHEY PLC

(JMAT)
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Delayed London Stock Exchange  -  05/27 11:35:20 am EDT
2113.00 GBX   -6.75%
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Johnson Matthey partners with European Metal Recycling (EMR) on a sustainable, circular solution for lithium-ion battery recycling in the UK

01/21/2022 | 09:22am EDT

Decarbonising transportation is a critical step in helping societies and industries meet their ambitious net zero emission targets to tackle the climate crisis. Here, battery electric vehicles for light-duty transport are a key solution. The challenge is recovering the critical materials from the batteries at end-of-life without harming the environment.

To tackle this, Johnson Matthey, a global leader in sustainable technologies, has signed a Memorandum of Understanding with European Metal Recycling (EMR), one of the world's largest material recyclers and a leading recycler of end-of-life vehicles, to develop an efficient value chain in the UK for recycling lithium-ion batteries and cell manufacturing materials.

Recycling the batteries from end-of-life electric vehicles will produce significant quantities of strategic materials such as lithium, nickel and cobalt with a fraction of the carbon footprint of the same materials from mined sources.

EMR operates the UK's largest network of Authorized Treatment Facilities where vehicles are collected in 50 sites and recycled in compliance with strict environmental legislation. EMR is developing new, collection and recycling processes for electric vehicles and their batteries, to recover intermediate materials containing the strategic battery metals for further processing and where possible, closed loop return of materials.

Johnson Matthey is developing additional processes to produce fully refined materials suitable for direct use in lithium-ion battery manufacturing, increasing the recycled content of new batteries. The full closed loop recycling service that Johnson Matthey and EMR will develop together will help to deliver the future resource security and carbon-reduction aspirations of battery producers and vehicle manufacturers.

Jane Toogood, Chief Executive of Johnson Matthey's Efficient Natural Resources Sector, said:

'We are excited to partner with EMR in delivering an efficient battery refining solution to the UK market. Embedding circularity into this growing industry is essential if it is to become a truly sustainable solution. Battery recycling perfectly complements JM's core expertise in the refining of strategic metals, strengthening our position in developing a sustainable and circular battery value chain.'

Roger Morton, Managing Director for Innovation and Technology at EMR added:

'EMR is making major investments in the battery recycling supply chain. We are providing quality solutions right now for end-of-life battery materials and we are innovating to deliver higher material recovery rates in future. We look forward to working with Johnson Matthey. The novel technologies they are developing will deliver high yields of recovered battery precursor materials, ready for use back in lithium-ion battery manufacturing.'

Contact:

Johnson Matthey

Email: jmpr@matthey.com

Telephone: +44 207 269 8001

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 4 049 M 5 108 M 5 108 M
Net income 2022 270 M 340 M 340 M
Net Debt 2022 963 M 1 215 M 1 215 M
P/E ratio 2022 15,2x
Yield 2022 3,55%
Capitalization 3 861 M 4 871 M 4 871 M
EV / Sales 2022 1,19x
EV / Sales 2023 1,17x
Nbr of Employees 13 258
Free-Float 94,0%
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 2 113,00 GBX
Average target price 2 219,17 GBX
Spread / Average Target 5,02%
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Managers and Directors
Liam Condon Chief Executive Officer
Stephen Oxley Chief Financial Officer & Executive Director
Patrick Webster Thomas Chairman-Supervisory Board
Paul Jonathan Coby Chief Information Officer
Maurits van Tol Chief Technology Officer
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