Atlas raises $27 million for new nickel technology for EV batteries
Atlas Materials, which has developed a new technology to process low-grade nickel that can be used for electric vehicle batteries, has raised $27 million ahead of building a pilot plant in North America, the start-up firm said on Thursday.
U.S.-based Atlas said it has come up with a way to treat a type of nickel ore usually used as an ingredient in stainless steel into a form that can be used for EV batteries with low emissions and no waste.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitIIM LucknowIIML Executive Programme in Data ScienceVisit The company aims to launch production at a pilot plant at one of three possible sites in either Canada, or the United States, by 2027 with 1,800 metric tons of annual nickel output, CEO Jeremy Ley told Reuters.
Atlas came up with new technology to process saprolite nickel ores, which account for about a third of global nickel resources, into mixed hydroxide precipitate (MHP) for batteries, Ley added.
«This would be the first production of MHP in North America,» he said.
Saprolite ores are usually turned into ferrochrome for use in stainless steel.
The company expects to source ore from New Caledonia and has had discussions with major mining firms about possible future collaboration, Ley said.
The new processing technology uses hydrochloric acid and caustic soda to leach the ore, but does not need high pressure or high temperatures and does not result in waste products.
The processing of ore into MHP results in two
