Türkiye's conglomerate Cengiz Holding said on Tuesday that its cobalt and nickel end product manufacturing facility ICoNiChem has partnered with Canadian battery materials and technology company Novonix to develop nickel-based cathode active materials for electric vehicles (EV) batteries.

In a statement from the company, it was noted that the project, which will be funded under the U.K. and Canada Critical Minerals 2024 Program, covers the production of new recycled batteries by recovering nickel, cobalt and lithium from waste battery powders.

In the statement, it was noted that Cengiz Holding's cobalt and nickel end product manufacturing facility ICoNiChem, located in Widnes, England, will produce cathode active materials for electric vehicle batteries with Canadian battery materials and technology manufacturing company Novonix.

Novonix is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials and more efficient production methods, operating in the U.S. and Canada.

In the project, where ICoNiChem will recover nickel, cobalt and lithium from waste battery powders (black mass) of end-of-life vehicle batteries, Novonix will synthesize metals and produce cathode active materials.

The statement also noted that ICoNiChem was awarded funding of 160,000 pounds (nearly $210,000) from the U.K.’s Faraday Institute, which operates in electrochemical energy storage research, for the two-year project funded under the U.K. and Canada Critical Minerals 2024 Program.