Narrowing the domestic refining cost gap  

Illustrative example of battery recycling cost premiums and de-risking measures ($/ton of blackmass refining) 

Note:
Cost premium and gap reduction ranges are illustrative, based on the following assumptions:
1. Baseline refining costs, capital cost, and operating costs premiums are considered from Argonne National Lab's Everbatt model. An additional 3% financing premium is assumed and added to the domestic premium stack.
2. Capital costs can be reduced by 35% and operating costs by 25% through innovative, modular refining techniques.
3. Market premiums and price support policies make up the remaining cost gap against incumbents.
Source: EverBatt-Argonne National Lab, Battery Circular Economy Initiative Dashboards