They have to do the feasibility study, run the numbers to check...

They have to do the feasibility study, run the numbers to check costs & make sure the project can turn a profit. You have to prove you have a viable business before anyone will give you money to build it.

The different battery chemistries in each plant will generate different profit margins. For example, a Spoke LFP plant will have a different profit margin than a Spoke LCO battery plant.

Look at the example below, the profit margin for an LCO Spoke plant is higher than an NMC Spoke plant when compared to OPEX (the black line). The LCO Spoke plant well & truly makes a profit, whereas the Spoke plant for NMC batteries barely break even. The real money is in the Hub refinery, where battery grade chemicals are refined.



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The different battery chemistries being gathered with these collection schemes in the UK & Romania will determine how viable the business is. So that's what they're trying to work out now with the feasibility studies.