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BASF (BASFY) & Stena Partner for Europe's EV Battery Recycling
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BASF SE (BASFY - Free Report) , a prominent global battery materials producer and battery recycler, joined forces with Stena Recycling, a leading European recycling company, in a black mass purchase agreement. This collaboration is part of a broader initiative by BASF and Stena Recycling to establish a comprehensive battery recycling value chain for the European electric vehicle battery market.
The primary focus of this partnership is the development of enhanced black mass production processes, aiming for high recovery rates of metals like lithium, nickel and cobalt. The ultimate goal is to support closed-loop solutions within the European electric vehicle battery market. The initial steps in the battery recycling process involve the collection, assessment and pre-treatment of end-of-life lithium-ion batteries, followed by black mass production.
Black mass is generated through the mechanical treatment of end-of-life lithium-ion batteries and scrap from battery production. Subsequently, valuable metals such as lithium, nickel, cobalt and manganese can be chemically recovered from the black mass.
Following the collection and production stages carried out by Stena Recycling in Halmstad, the black mass will undergo further processing in BASF's prototype metal refinery in Schwarzheide. The broader vision is to replicate this model in BASF's planned commercial-scale battery recycling metal refinery in Europe.
Stena Recycling Group emphasized the importance of industry collaboration in promoting a circular approach to battery production amid the ongoing electrification of society. With this agreement, Stena Recycling solidifies its position as a key recycling partner in Europe for battery manufacturers and the vehicle industry.
The use of recycled metals in new battery production significantly reduces the carbon footprint of batteries. Under this collaboration, Stena Recycling will handle the collection of end-of-life lithium-ion batteries and battery production scrap, along with dismantling, discharging and black mass production. BASF, on the other hand, will recover valuable metals from the black mass and produce new cathode active materials for fresh lithium-ion batteries.
This collaboration strengthens BASF’s capacity to offer an expanded battery collection network, particularly in the Scandinavian countries, as part of the company's commitment to providing individual and closed-loop solutions for battery producers and electric vehicle manufacturers in Europe. This collaboration is viewed as a crucial step toward achieving a circular economy for the European electric vehicle battery market.
In the past year, BASF’s shares have lost 11% compared with the industry’s 10.2% fall in the same period.
Cameco has a projected earnings growth rate of 156% for the current year. The Zacks Consensus Estimate for CCJ’s current-year earnings has been revised upward by 6.7% in the past 60 days. The stock is up around 76.2% in a year.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.96, indicating a year-over-year surge of 247.4%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have rallied 53.2% in the past year.
The Zacks Consensus Estimate for CBT’s current-year earnings has been revised upward by 4.4% in the past 60 days. CBT beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 2.3%, on average. The stock has gained around 7.8% in a year.
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BASF (BASFY) & Stena Partner for Europe's EV Battery Recycling
BASF SE (BASFY - Free Report) , a prominent global battery materials producer and battery recycler, joined forces with Stena Recycling, a leading European recycling company, in a black mass purchase agreement. This collaboration is part of a broader initiative by BASF and Stena Recycling to establish a comprehensive battery recycling value chain for the European electric vehicle battery market.
The primary focus of this partnership is the development of enhanced black mass production processes, aiming for high recovery rates of metals like lithium, nickel and cobalt. The ultimate goal is to support closed-loop solutions within the European electric vehicle battery market. The initial steps in the battery recycling process involve the collection, assessment and pre-treatment of end-of-life lithium-ion batteries, followed by black mass production.
Black mass is generated through the mechanical treatment of end-of-life lithium-ion batteries and scrap from battery production. Subsequently, valuable metals such as lithium, nickel, cobalt and manganese can be chemically recovered from the black mass.
Following the collection and production stages carried out by Stena Recycling in Halmstad, the black mass will undergo further processing in BASF's prototype metal refinery in Schwarzheide. The broader vision is to replicate this model in BASF's planned commercial-scale battery recycling metal refinery in Europe.
BASF SE Price and Consensus
BASF SE price-consensus-chart | BASF SE Quote
Stena Recycling Group emphasized the importance of industry collaboration in promoting a circular approach to battery production amid the ongoing electrification of society. With this agreement, Stena Recycling solidifies its position as a key recycling partner in Europe for battery manufacturers and the vehicle industry.
The use of recycled metals in new battery production significantly reduces the carbon footprint of batteries. Under this collaboration, Stena Recycling will handle the collection of end-of-life lithium-ion batteries and battery production scrap, along with dismantling, discharging and black mass production. BASF, on the other hand, will recover valuable metals from the black mass and produce new cathode active materials for fresh lithium-ion batteries.
This collaboration strengthens BASF’s capacity to offer an expanded battery collection network, particularly in the Scandinavian countries, as part of the company's commitment to providing individual and closed-loop solutions for battery producers and electric vehicle manufacturers in Europe. This collaboration is viewed as a crucial step toward achieving a circular economy for the European electric vehicle battery market.
In the past year, BASF’s shares have lost 11% compared with the industry’s 10.2% fall in the same period.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Cameco Corporation (CCJ - Free Report) and Carpenter Technology Corporation (CRS - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) at present and Cabot Corporation (CBT - Free Report) , currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cameco has a projected earnings growth rate of 156% for the current year. The Zacks Consensus Estimate for CCJ’s current-year earnings has been revised upward by 6.7% in the past 60 days. The stock is up around 76.2% in a year.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.96, indicating a year-over-year surge of 247.4%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have rallied 53.2% in the past year.
The Zacks Consensus Estimate for CBT’s current-year earnings has been revised upward by 4.4% in the past 60 days. CBT beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 2.3%, on average. The stock has gained around 7.8% in a year.