Neometals Ltd (ASX:NMT, OTC:RDRUY, AIM:NMT) shares jumped 6% to 23.5p after saying it can better assert its commercial rights after being awarded a patent in Australia for its battery material recycling process.
It is the first of 17 patents the company's 50% owned recycling intellectual property subsidiary has applied for around the world for the LiB Recycling Technology.
The patent was awarded for the second stage of the LiB's two-part approach, where following the separation of the nickel, cobalt, lithium and manganese components in the first 'Spoke' stage, the 'Hub' storage involves leaching, purification, precipitation or solvent extraction and crystallisation of the active materials suitable for further use.
Neometals says the LiB process "prioritises maximum safety, environmental sustainability, and product recoveries, to support the circular economy and decarbonisation".
Managing director Chris Reed said the patent award "cements our competitive advantage as a leading provider of recycling solutions and allows Primobius to accelerate its recycling plant supply and licensing business model. The validation also provides encouragement that our portfolio of applications in other jurisdictions will similarly be granted."