INTERVIEW: Momentum Technologies focuses on growing critical minerals recycling in US, says CEO

Mahesh Konduru, CEO of Texas-based Momentum Technologies, shared insights on the dynamic evolution of battery recycling in the US during a recent conversation with S&P Global Commodity Insights, emphasizing the company's commitment to localizing the value chain and enabling communities to maintain control over their resources.

"Momentum's strategic focus is to secure a sustainable supply of critical minerals while fostering growth in domestic [US] markets," said Konduru in an interview with Commodity Insights Oct. 18.

The company's approach reflects a broader global shift towards local recycling of essential minerals, fostering an optimistic outlook for battery recycling.

When asked how the Inflation Reduction Act (IRA) and other trade policies had influenced their business strategy, Konduru said: "The IRA and other trade policies enhancing domestic production directly bolster our strategy aimed at improving the US and Western capacity to produce critical minerals essential for the energy transition." He added that Momentum's focus was on onshoring the recovery of these minerals.

"The recent governmental initiatives, regardless of geographical origin, amplify our optimism towards battery recycling. Our strategy centers on empowering local communities to autonomously manage their critical mineral resources, aligning with the global desire for domestic control," he said.

Momentum's competitive advantage lies in its modular technology which is known as the MSX system. This innovative design allows flexible scaling -- an advantage over traditional, rigid systems.

Konduru highlighted the system’s adaptability to varying demands. "The advantage of Momentum’s technology is that it has the lowest number of challenges to scale up ... We'd like to describe the core MSX technology as Lego blocks, where you can layer them on as needed. When you don't need them, you can unlayer them. This technology offers significant advantages compared to larger, more rigid systems," Konduru said.

Momentum’s technology stands out in three key areas and they are, "effective recovery of valuable metals from lithium battery waste, even at small operational scales; the flexibility regarding the raw materials utilized during production; and minimal permitting requirements. This allows us a rapid transition from concept to operational status due to the simplicity of our processes," he said

Regarding the timeline to bring a plant online, Konduru said: "The timeline to operationalize a facility hinges on its size. For a 2,000 mt/year black mass processing plant, following the establishment of the foundational design, we estimate a launch timeframe of six to nine months."

Strategic partnerships

The key to Momentum's trajectory also lies in its strategic partnerships.

"Our success is underpinned by a diverse range of partnerships, which we categorize as financial, supply chain, technical, and strategic. Financially, we align with long-term capital providers who bring a wealth of credible experience in the critical metals landscape," Konduru said.

On the technical front, its core technology has evolved through collaborations with national labs, enabling it to build intellectual property and advance innovations. In terms of supply chain, it engages with various stakeholders “to secure high-quality, economically feasible materials."

Looking ahead, Momentum is pursuing multifaceted growth opportunities, including the launch of refining facilities. They plan to inaugurate a commercial facility in Ohio in 2025 and are currently in discussions with several partners to explore additional sites in the US, Europe, Southeast Asia, and Australia.

As demand for sustainable energy solutions intensifies, Momentum is poised to meet the challenges through innovative technology and strategic partnerships.

Additionally, Momentum plans to unveil a new facility in Carrollton, Texas, on Oct. 22, 2024, marking a significant milestone in its commitment to advance critical minerals recycling.

In related market insights, Platts, part of S&P Global Commodity Insights, reported that the Ni-Co black mass DDP US daily price assessment remained stable as of Oct. 21, with payables for Nickel and Cobalt at 65% and lithium at 0%.