M2i Global commences setting up pilot plant planning, approvals in Australia

M2i Global (MTWO) commenced setting up the pilot plant planning and approvals in Australia. Next-Gen Energy Technology and M2i Global are operating under a collaboration agreement that was signed in August 2024 that will accelerate plans to establish the first Lithium cathode materials manufacturing plant outside of China. The advantages are based on patented technology; granted patent for a preparation method of spherical nickel-cobalt aluminate lithium cathode material for lithium-ion batteries and Australian patent for production of lithium nickel cobalt aluminate for lithium batteries. This technology planned for this facility represents the first time such will be utilized outside of China.The pilot plant is targeted to be commissioned by the end of 2025 and scaled up to full production throughout 2026, from 2,000 tons/year to full production of 10,000 tons/year. This full production would generate approximately $140M revenue per year. The collaborative agreement covers 10 years, so represents a total potential of $1.4B. Next-Gen Energy Technology intends to replicate and scale new facilities in the U.S., Malaysia, Thailand and Indonesia, potentially aggregating to upwards of 200,000 tons over ten years. The two companies executed an offtake contract in November 2024 for M2i Global in the U.S.