Recently, CNGR Corporation, a listed company under CNGR Group, officially signed an equity investment agreement with CRONIMET Group, a leading global recycling enterprise in Germany, and completed the equity transfer. According to the agreement, CNGR Corporation will acquire a 25% stake in Revomet Bitterfeld, a battery materials and recycling subsidiary of CRONIMET Group. The two parties will jointly invest in the construction of a waste battery recycling plant in Bitterfeld, Germany. This marks a substantial stage of cooperation between the two parties in the European battery recycling business, further improving CNGR's new energy materials industry ecology of "resource development - material intelligent manufacturing - global circulation", and supporting the sustainable development of the local battery recycling industry in Europe.

Strong Alliance to Build European Battery Recycling Benchmark Factory

Based on the deep accumulation and high compatibility of both parties in the recycling field, in December 2023, CNGR Corporation signed a preliminary agreement with CRONIMET in Karlsruhe, Germany, laying the foundation for this cross-border cooperation. In the following year, both teams carried out multiple rounds of detailed consultations around core issues such as technology integration, resource integration, and market layout, with a common pursuit of green and circular economy. From conceptual consensus to scheme refinement, from resource matching to process connection, every step of promotion embodies the professional wisdom and cooperation sincerity of both parties. Now, with the official signing and effectiveness of the agreement, this long-awaited deep cooperation has finally achieved substantial implementation. This is not only the result of both parties' polishing and striving for excellence, but also lays a clear path for future cooperation. According to the agreement, both parties will jointly build a lithium battery recycling and dismantling factory in Bitterfeld, Germany through Revomet Bitterfeld. The factory's electrode line has been put into operation, and the battery line has been planned and is expected to be put into production in 2026. The company's business and production line development pace will be highly consistent with the European battery retirement time. As a new energy materials enterprise with the dual qualifications of "hierarchical utilization and recycling" from the Ministry of Industry and Information Technology, CNGR Group has accumulated profound technical strength in the field of new energy battery materials, and has built a closed-loop ecosystem of "resource development material intelligent manufacturing global circulation". It has also established a full process production system in Tongren, Guizhou, from dismantling and crushing waste batteries to lithium extraction and recycling of nickel, cobalt, and manganese elements. CRONIMET Group, founded in 1981, is a leading global metal waste recycling enterprise headquartered in Karlsruhe, Germany, with over 70 branches worldwide. Its subsidiary Revomet Bitterfeld is deeply involved in sustainable battery material recycling and has accumulated rich green and efficient recycling technology and industry experience in Europe. The complementary advantages and resource integration of both parties will inject strong impetus into the smooth progress of the cooperation project, jointly drawing a new blueprint for the European and even global waste battery recycling industry, and becoming a leader in the global waste battery recycling industry. Deepening the circular economy and promoting the sustainable development of the global new energy industry. The implementation of this cooperation means that CNGR's lithium battery supply chain closed-loop construction in Europe will be comprehensively accelerated, and we will establish a complete and sustainable recycling solution in the European market. "said the international recycling manager of CNGR Group in Europe, America, and Africa. According to statistics, the current available waste battery processing capacity in Europe is extremely limited, while the amount of waste and scrapped batteries is steadily increasing. The cooperation between CNGR and CRONIMET is based on this market reality. The construction and operation of this waste battery recycling factory will effectively alleviate the current situation of insufficient waste battery processing capacity in Europe. It is worth mentioning that this factory will also become the first battery recycling factory to operate in Western Europe, providing professional and harmless waste battery recycling and reuse services for the European region. At the same time, this cooperation is also a concentrated manifestation of CNGR and CRONIMET, two leading companies in the industry, taking the initiative to undertake the responsibility of recycling waste batteries and practicing the green, zero waste, low-carbon, and recyclable concepts. It will promote the construction of the new energy materials industry ecology, provide strong support for the healthy development of the global new energy industry, lead the industry towards a more environmentally friendly, efficient, and sustainable direction, and contribute to addressing global resource shortages and environmental issues. As a representative leading enterprise in the field of new energy materials in China and Germany, the cooperation reached between CNGR and CRONIMET after more than a year is of great significance for the deep integration and collaboration of Chinese and European enterprises in the new energy industry chain, and sets an example for the coordinated development of China and Europe in the field of green industry. The joint efforts of both sides will not only inject strong momentum into the green transformation of Europe's new energy industry, but also provide a practical and feasible cooperation paradigm for achieving carbon neutrality goals globally, promoting the circular green development of the global new energy industry.