Neometals Ltd, an innovative battery materials recycler, has successfully closed a placement, raising approximately A$9.0 million. The placement involved the issuance of 47,380,239 new fully paid ordinary shares. The funds raised will be used to support the development and commercialization of Neometals' lithium-ion battery recycling technology through its Primobius joint venture with SMS group. Neometals is looking forward to delivering its maiden plant to Mercedes-Benz and expanding its revenue base and forward order book for plants supplied under technology licensing business models. The company aims to ensure that its flagship business is funded to fulfill current and future purchase orders while continuing the commercialization of its other projects through partnerships and technology licensing.