Neometals Ltd. (Neometals or the Company) announced the execution of a formal agreement governing the formation and operation of an incorporated 50:50 joint venture (JV) with SMS group GmbH (SMS group), called Primobius GmbH (Primobius). Primobius will commercialise Neometals' proprietary lithium-ion battery (LiB) recycling technology, which offers a unique and sustainable method for recovering valuable lithium, nickel, cobalt and other materials from spent and scrap electric vehicle and consumer electronic LiB's. Recovered and refined product materials will be in a form that can be reused in the battery supply chain. The creation of the JV follows extensive due diligence by SMS group on Neometals scale-up activities for its patent-pending hydrometallurgical process, including its recently completed successful pilot trials (Pilot). Neometals previously executed a binding memorandum of understanding (MOU) with SMS group allowing SMS group to complete exclusive due diligence on a transaction to co-fund final stage process evaluation before co-developing commercial LiB recycling operations with Neometals. Next steps for the JV will include construction and commissioning of a Demonstration Plant (DP) at a SMS group facility in Germany. The DP will rely on Neometals piloted commercial-scale comminution (shredding) and hydrometallurgical circuits. The comminution circuit (20ktpa capacity) is currently en-route from the US and the DP will generate results for a formal feasibility study with commercial feedstock, offtake and financing activities occurring in parallel.