Iondrive (ASX:ION) signed a collaboration agreement with PEM, a division of RWTH Aachen University, and PEM Motion in Germany for the commercialization of battery recycling technology in Europe, according to a Monday filing with the Australian bourse.
The non-binding agreement is a key step in formalizing a strategic partnership in Europe and emphasizing the benefits of Iondrive's sustainable battery recycling technology, the filing said.
Over the next three months, PEM and Iondrive will develop a detailed project plan and investment case for a pilot plant using Iondrive's recycling technology, it added.
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