Up 418% in 1-year, why the Neometals (ASX:NMT) share price is surging 14% today

As the world embraces EVs, the mountains of used batteries need to be addressed.

The Neometals Ltd (ASX: NMT) share price is rocketing in early trade, up more than 14.69% to $1.015 cents per share. That's smashed the all-time closing high of 95 cents reached on 24 September.

Below we take a look at the battery recycling update released to the ASX this morning.

a man sits on a rocket propelled office chair and flies high above a city

Image source: Getty Images

What battery recycling update was announced?

Neometals' share price is soaring after the company reported its joint venture company Primobius GmbH has completed the commissioning of its lithium-ion battery recycling demonstration plant.

Primobius is jointly owned by Neometals and SMS group GmbH.

According to the release, all leaching, purification, and recovery circuits of the Stage 2 hydrometallurgical refinery were successfully wet commissioned at the German-based demonstration plant.

Neometals' share price could also be getting a boost from the report that the demonstration plant's trial on electric vehicle lithium-ion batteries will kick off early in November, as planned. The trial is intended to demonstrate the "safe, efficient, green recycling process to potential feedstock supply and product offtake partners".

Commenting on the progress, Neometals' managing director Chris Reed said:

This is another important milestone for Primobius. The demonstration trial is the conclusive phase of our evaluation with SMS and represents the key step in bringing our pipeline of potential plants into commercial reality.

Inbound interest from the global EV supply chain in our efficient, green recycling process is exceptional. This interest coupled with the scalability and deliverability from our partnership with a leading global plant builder in SMS, augurs well for the achievement of our goal to become the leading recycling solution in the Western world.

Neometals share price snapshot

The Neometals share price has been a standout performer over the past 12 months, soaring 418%. To put that into some context, the All Ordinaries Index (ASX: XAO) is up 22% year-on-year.

Over the past month Neometals' shares have gained 4%.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

A female scientist in a laboratory setting using a tablet to review data, with a male scientist working in the background.
Technology Shares

Should I buy Pro Medicus shares after its big news?

Another US contract adds to a growth story I think still has a long way to run.

Read more »

Man lying down on sofa and trading on his laptop.
Technology Shares

Zip to consolidate shares 5-for-1 in 2026: What shareholders need to know

Zip plans to consolidate shares 5-for-1, pending shareholder approval at its 2026 AGM.

Read more »

Woman with her kitten on a laptop in her home office.
Technology Shares

Should I buy WiseTech shares after today's big news?

I take another look at the tech stock after an important source of uncertainty was removed.

Read more »

a man sits at a computer in deep thought with hand on chin in a darkened room as though it is late and night and he is working on cybersecurity issues.
Technology Shares

Down 11% in a month: Is it time to buy Xero shares?

Have the ASX tech shares now bottomed? Or is there more downside coming?

Read more »

A group of seven young people of different genders and cultural backgrounds stand in a group with serious expressions wearing casual young persons' attire.
Technology Shares

Nextdc vs WiseTech: Which ASX tech stock is better for a 25 year old investor?

Weighing Nextdc vs WiseTech Global for a young investor? Here’s which ASX tech stock I think deserves the spot in…

Read more »

Man analysing data on his laptop.
Technology Shares

Why this rapidly growing ASX drone stock could rise 36%

Bell Potter has a lot of good things to say about this company.

Read more »

Happy mum and dad with daughter smiling on couch after relocation to new home.
Technology Shares

Down almost 40%, are Life360 shares a strong buy in October?

Bell Potter thinks this tech stock could deliver big returns.

Read more »

A group of seven young people of different genders and cultural backgrounds stand in a group with serious expressions wearing casual young persons' attire.
Technology Shares

Xero vs Megaport: Which ASX tech stock suits young investors better?

I break down Xero vs Megaport shares for young investors — with a clear verdict on which tech stock I’d…

Read more »