Competitive Advantages
Westwin competes against alternative producers by offering superior efficiencies, accessibility, ESG compliance, IRA compliance, diversity of inputs and quality outputs, permitting advantages, proven technologies, experienced technical and operating team, first mover advantage while supplying a rapidly growing TAM, supported by USG policy and programs.
Efficiencies
Lower OPEX
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Comparative Analysis: Engaged Wood to produce a scoping study revealing a lower OPEX via the carbonyl process to produce high purity nickel product than a traditional hydrometallurgical process.
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Balance of Plant, Cost Savings: Integration yields cost savings via the shared balance of plant, and omission of crystallizing OPEX and CAPEX, as sulfate pipes directly into a pCAM circuit
Accessibility
U.S. production translates to faster and more reliable fulfillment, lower transport expenses, and increased transparency and communication between buyer and seller.
ESG and IRA Compliance
Westwin’s production of IRA compliant products in line with US ESG standards allow downstream OEMs to take advantage of the IRA sponsored Clean Vehicle Credits.
Rapidly Growing TAM
US CAM demand to increase by more than 300% between 2022 and 2030: 275,000 tpa to 1,162,000 tpa. Forecasts indicate a future deficit of precursor cathode active material (pCAM) to supply cathode active material (CAM) in North America. Additionally, the global market share of NCM high-nickel for electric vehicles (EVs) is projected to grow from 15% in 2024 to 33% by 2040.
Permitting and
Regulatory Environment
The demonstration plant was permitted through ODEQ in 3 months and construction permits through the ODEQ and the City of Lawton in a short period of 2 months. The permitting through ODEQ and the City of Lawton ran concurrently so all permits were accomplished in 3 months. Westwinanticipates 6-12 month timelines for commercial permit awards, while also expecting to complete apermit application for the carbonyl commercial circuit in August, 2024 and dissolution and pCAM commercial applications in October, 2024. Westwin anticipates awards of commercial carbonyl permits as early as December, 2024 and no later than March, 2025. If Westwin is awarded USG grant funding, additional regulatory burdens may apply. Westwin works closely with Oklahoma Department of Environmental Quality and local stakeholders to ensure a successful permitting process.
Proven Technology Operated and Designed by Experience
Westwin will produce class 1 nickel powder utilizing the commercially proven carbonyl technology. The Westwin technical team boasts more than 250 years of experience in designing, commissioning, and operating commercial carbonyl facilities. Westwin relies on Metso to provide piloting, basic engineering, equipment, process, and training support for dissolution and production of pCAM. Worley will provide the Bank Feasibility Study for the integrated commercial design to produce pCAM.
First Mover Advantage
Westwin’s design, development, and implementation of the first major integrated nickel refinery in the United States serves to satisfy current and projected future demand for nickel metal products and precursor cathode active materials. With zero major nickel refineries currently located within the United States, and as the 6th largest importer globally of nickel, Westwin seeks to capitalize on the first mover advantage within the total domestic addressable market.
Product Quality and Diversity
Using a carbonyl-based technology, Westwin will produce high purity nickel powder (Class 1). These high purity powders can be grouped into three major categories: filamentary powders, discrete, with spiky surface morphology, and discrete, with a smooth surface. Westwin’s product suite will be diverse to include specialty powders, briquettes, NMC 811 pCAM, and other specialty products.
Future-Proof Asset
The ability to process various inputs (MHP, matte, black mass) and produce diverse outputs (powder, briquettes, sulphates, and pCAM) makes Westwin’s integrated plant future-proof. This strategic positioning ensures the company is well-equipped to navigate industry transitions and is ideally positioned for the shift towards recycling.