Freeport, Texas, June 16, 2022 – Aleon Metals, North America’s leading producer of critical materials announced that its wholly-owned subsidiary, Aleon Renewable Metals (“ARM”), has closed $75 million debt financing using tax exempt bonds. ARM is a Texas-based recycling Company that is constructing a world class commercial scale hydrometallurgical facility capable of manufacturing approximately 60,000 tons per year of battery grade materials from sustainable supplies of polymetallic materials such as spent EV auto batteries.
The location of the battery recycling complex is in Freeport, Texas, about 60 miles south of Houston, on land adjacent to Gladieux Metals Recycling (“GMR”), a sister company to ARM. With an operational history spanning over 50 years, Gladieux Metals Recycling is North America’s largest recycler of spent catalyst. The Aleon battery recycling complex is a scalable opportunity that builds upon the experience of one of the industry leaders in polymetallic materials recycling, GMR, and the significant existing industrial infrastructure with multi-modal logistics capability.
The project development capital was issued through Brazoria County Industrial Development Corporation. The muni financing was led by Citibank. According to Al Salazar, Aleon Metals’ Chairman, “The large-scale production of battery grade materials is anticipated to spur the development of domestic supply chains, create economic stimulus and jobs, and enhance the nation’s energy security while providing eco-friendly solutions for polymetallic materials otherwise disposed in landfills. We appreciate the strong support received from the community as we plan the launch of a world class battery recycling program geared to provide economic benefits in the State of Texas while paving the way to a clean and sustainable future for our country.”
ARM’s initial product slate includes battery grade chemicals such as cobalt sulfate, nickel sulfate, manganese sulfate, and lithium carbonate and/or lithium hydroxide depending on end user demands. The Company has plans to bolt on downstream processing units to manufacture pCAM (precursor Cathode Active Material) and CAM (Cathode Active Material) from the battery grade chemicals produced at the site. “This project is a response to the challenges introduced by the energy transition and should offer a long-term solution that addresses North America’s decarbonization ambitions” according to Tarun Bhatt, CEO and President of Aleon Renewable Metals.
About Aleon Renewable Metals
Headquartered in Freeport, Texas, Aleon Renewable Metals is developing a world class hydrometallurgical plant to manufacture battery grade materials from end-of-life lithium-ion batteries and other polymetallic materials. The Company aims to be a North American leader in the transition to a clean energy economy and plans to strategically partner with like-minded companies focused on ESG-centric growth opportunities.