Contract with the Wałbrzych Special Economic Zone

We are pleased to announce that Rare Metals has signed an agreement with the Wałbrzych Special Economic Zone.

At the end of March 2022 in Poland we had less than 43.5 thousand electric cars. Is this result which is satisfying for us?

The topic is very hot and we can argue about it endlessly. One thing is certain - the number of electric cars will be growing and in the same time on the market will appear parts that can be reused - all for the benefit of the environment.

We are pleased to announce that our company Rare Metals Sp. z o.o. - Recycling for Elektromobilności and Automotive today signed a decision on support with the Wałbrzych Special Economic Zone "INVEST-PARK". We are starting the construction of a modern lithium-ion (li-ion) battery processing plant, components for their production, and comprehensive service for this segment.

Redwood Materials, founded by former Tesla CTO JB Straubel, has achieved over 95% efficiency in recovering important metals from 1,268 battery packs collected from various BEV and Hybrid models. The company has partnered with Audi and the rest of the VW Group, and has already entered into an agreement with Panasonic to sell the results of this recycling in the form of high-nickel cathode materials. With the EV market growing rapidly, recycling of old batteries will become increasingly important in the coming years.

Redwood's strategy is to partner directly with automakers to keep costs down, increase safety and efficiency, and improve the competitiveness of recycled materials in the US versus freshly mined.

Lithium is currently a "must-have" in the production of electric vehicles because it is used in their batteries. However, its use goes beyond that and is found in many everyday devices such as telephones, laptops and vacuum cleaners. Engineers around the world highly value its unique properties, and there is no prospect of it being replaced in the future. Lithium is also used in the manufacture of glass, ceramics, rocket fuel, and even in medicine to treat conditions such as depression and bipolar disorder.

Australia, Chile and China are world leaders in lithium production, accounting for over 90% of the world's lithium production in 2021. Although lithium mining is evenly spread over several continents, its exports are mainly directed to the Asian market, where South Korea, China and Japan buy several times more than the rest of the world combined.

Unfortunately, lithium mining is currently costly, time-consuming and environmentally unfriendly due to the large amounts of water and electricity used.

Lithium production has increased significantly in recent years, with large-producing countries seeking to maximize their production to meet global demand and make substantial profits. Australia's Minister for Resources pledged more than $100 million for research and development programs to extract minerals.

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